By BUA Cement Plc has kicked off 2025 with a massive financial leap, reporting an 80.5% surge in revenue to ₦290.9 billion for the first quarter ending March 31. This marks a sharp jump from the ₦161.1 billion it posted in the same period last year.
According to its unaudited Q1 financials, the cement giant also saw a 31.2% rise in cost of sales, which climbed to ₦152.37 billion from ₦116.09 billion in 2024. Despite the higher costs, BUA Cement recorded an operating profit of ₦119.03 billion—an astonishing 255.6% increase compared to ₦33.48 billion a year ago.
The profit figures only got better: profit before tax soared by 368.6% to hit ₦99.7 billion, while profit after tax rose to ₦81.1 billion from ₦18 billion, representing a 351% rise. Earnings per share also followed suit, hitting ₦239.6, up from ₦53.6 in Q1 2024.
Reacting to the performance, Managing Director/CEO Yusuf Binji said, “I am extremely delighted about our first quarter performance which has seen us sustain our continued growth in earnings. This is evidence of trust, consistent quality and product delivery, aided by our commitment to excellence.”
Looking to the future, Binji expressed confidence in BUA’s growth trajectory. “We expect a similar impressive performance, supported by the cost reduction initiatives being implemented,” he said.
Chief Financial Officer Chikezie Ajaero echoed the optimism. “The quarter was not just a strong one, but a recovery from our performance in the first quarter of 2024. Our margins are recovering to acceptable levels,” he stated, adding that exchange rate stability played a key role in managing operating costs.
BUA Cement remains Nigeria’s second-largest cement producer, with a total installed capacity of 17 million metric tonnes per annum across its strategic locations in Edo and Sokoto States. With a new greenfield plant underway in Ososo, Edo, the company aims to raise its capacity to 20 million metric tonnes, reinforcing its leadership in key regions and its stronghold on the Nigerian Exchange (NGX).
