BUA Cement Plc has posted a revenue of N290.8bn for the first quarter ended March 31, 2025, marking a massive increase of 80.5 per cent compared to the N161.1bn it recorded during the same period in 2024. This was revealed in the company’s unaudited financial statement filed with the Nigerian Exchange Limited recently.
The rise in revenue was largely driven by increased sales of cement products within the review period. The numbers showed that despite facing tough economic conditions, BUA Cement was able to grow its business significantly.
However, the company’s cost of sales also went up by 31.2 per cent to N152.4bn, from N116.1bn recorded in the first quarter of 2024. This increase was blamed on higher costs of energy, raw materials, repairs, and maintenance. Even with the rising expenses, BUA Cement still recorded a higher gross profit of N138.5bn, compared to the N45bn posted in the same period last year.
The cement company also reported an operating profit of N119bn for the first three months of 2025, which is way higher than the N33.5bn made in 2024. However, BUA Cement’s finance costs jumped significantly during the period. It recorded a net finance cost of N17.8bn, compared to N1.8bn in the previous year. The main cause of this increase was a rise in finance costs from N4.9bn to N19.3bn.
In terms of foreign exchange, BUA Cement reported a net exchange loss of N836.8m, a notable improvement compared to the heavy N10.1bn loss it suffered in the first quarter of 2024.
Profit before taxation rose sharply to N99.7bn from N21.3bn recorded during the same period in 2024. After taxes were deducted, BUA Cement still posted a profit after tax of N81.1bn, representing a growth of 351.4 per cent from N18bn in 2024.
The company’s total comprehensive income for the period also stood at N81.1bn, showing that it had a strong performance despite facing macroeconomic challenges such as inflation and exchange rate fluctuations.
Looking at its statement of financial position, BUA Cement’s total assets increased slightly to N1.58tn as of March 31, 2025, up from N1.57tn as of December 31, 2024. The company’s equity rose from N388.5bn to N469.7bn over the same period, showing stronger financial strength.
Meanwhile, BUA Cement’s total liabilities dropped to N1.11tn from N1.18tn at the end of December 2024, indicating better management of its debt levels.
For shareholders, BUA Cement’s basic earnings per share rose to 239.56 kobo for the first quarter of 2025, up from 53.65 kobo in the first quarter of 2024, meaning more returns for investors.
BUA Cement recorded a profit after tax of N73.91bn for the full year ended December 31, 2024. That was a 6.4 per cent rise from the N69.45bn profit recorded in 2023, showing that the company had been consistently growing its profits over time.
The strong performance of BUA Cement comes at a time when many Nigerian companies are struggling with rising operational costs, naira devaluation, and tough economic conditions. Despite all these, BUA Cement seems to be maintaining its growth path in the cement manufacturing sector.
