Strong Net Income Growth in Q1 2021

30.04.2021
 

Strong Net Income Growth in Q1 2021

 

  • Prioritisation of Health, Safety and Environment measures for all stakeholders

 

  • Net Sales up 12.2% vs PY with over-proportionate growth in recurring EBIT up 24.2% vs PY

 

  • Strengthened Balance Sheet with net cash position of N22.4bn vs N3.6bn end 2020

 

PERFORMANCE OVERVIEW

 

Group Quarter 1 2021

 

 

Q1 2021

Q1 2020

 

Var. (±%)

 

 

 

 

 

 

Net sales (N'mn)

71,470

63,696

12.2%

 

 

 

 

 

 

Recurring EBIT (N'mn)

14,704

11,840

24.2%

 

 

 

 

 

 

Recurring EBIT margin (%)

21%

19%

 

 

 

 

 

 

 

 

Net income (N'mn)

9,136

8,067

13.3%

 

 

 

 

 

 

EPS (N/share)

57

50

13.3%

 

 

 

 

 

 

 

 

 

 

 

31-Mar-21

31-Dec-20

 

 

Var. (±%)

 

 

 

 

 

 

 

 

 

Net cash (N'mn)

22,407

3,590

524.1%

 

 

 

 

 

 

 

 

 

 

Khaled El Dokani, CEO of Lafarge Africa, commented: “Our Q1 2021 performance was resilient, with net sales of +12.2%, recurring EBIT of +24.2% and net income of +13.3%, compared to previous year. The implementation of our “HEALTH, COST & CASH” action plan continued to deliver results in Q1 2021”.

 

OUTLOOK 2021

 

  • Good demand momentum expected in Q2 2021.

 

  • We will continue to maximise volume opportunities in our core markets and drive our “HEALTH, COST & CASH” action plan to manage costs.

 

  • We will strengthen our efforts in the area of Sustainability.

 

About Lafarge Africa Plc

 

Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company is a subsidiary of LafargeHolcim, a world leader in building materials. Listed on the Nigerian Stock Exchange, Lafarge Africa is actively participating in the urbanisation and economic growth of Nigeria, the largest economy in Africa. Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa. Lafarge Africa leverages on its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria.

 

Additional information is available on the web site at www.lafarge.com.ng

 

 

About LafargeHolcim

 

As the world’s global leader in building solutions, LafargeHolcim is reinventing how the world builds to make it greener and smarter for all. On its way to becoming a net zero company, LafargeHolcim offers global solutions such as ECOPact, enabling carbon-neutral construction. With its circular business model, the company is a global leader in recycling waste as a source of energy and raw materials through products like Susteno, its leading circular cement. Innovation and digitalization are at the core of the company’s strategy, with more than half of its R&D projects dedicated to greener solutions. LafargeHolcim’s 70,000 employees are committed to improving quality of life across more than 70 markets through its four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

 

CONTACT

 

Adewunmi Alode

General Counsel & Company Secretary

Adewunmi.alode@lafargeholcim.com