BUA Cement Revenue Hits N1.1trn In 9 Months

BUA Cement Plc has released its unaudited financial results for the nine months ended September 30, 2026, with revenue growing 26.5 per cent to N1.1 trillion from N858.7 billion in the same period of 2025.

The results released on the Nigerian Exchange showed strong profitability growth despite heavy rainfall and poor road conditions in the third quarter.

Profit before tax rose by 64.4 per cent to N556.7 billion from N338.6 billion in 9M 2025, while profit after tax increased by 59.8 per cent to N463.1 billion from N289.6 billion. Earnings per share also grew 59.8 per cent to N1,367.50 from N855.90.

The company said the performance reflects three consecutive quarters of volume growth compared with corresponding periods in 2025, driven by continued growth in bulk cement sales.

Cost of sales rose by 8.8 per cent to N466.4 billion from N428.6 billion, partly due to adverse energy mix, operational challenges and elevated prices linked to geopolitical tensions in the Middle East.

However, gross profit and EBITDA margins improved by 7.0 and 6.3 percentage points to 57.1 per cent and 52.7 per cent, respectively, supported by lower O&M service charges and cost savings from the introduction of LNG-powered trucks.

Return on Equity and Return on Asset stood at 63 per cent and 27.4 per cent respectively, reflecting improvements in operating margin, asset turnover and interest burden.

Managing director/CEO of BUA Cement, Yusuf Binji said the results demonstrate resilience.

“I am delighted with our performance, which demonstrates resilience despite challenging conditions, particularly on account of the heavy rainfall and its impact on road infrastructure. We surpassed our quarterly performances of 2025 through the addition of bulk customers, the acquisition of LNG trucks, and the further restructuring of our logistics operations,” he said.

Binji noted that the LNG trucks are eco-friendly, reducing the company’s carbon footprint while harnessing Nigeria’s abundant gas reserves.

“This investment will also enhance market penetration and operational efficiency. Energy costs were elevated during the quarter due to supply constraints but have since normalised,” he said.

He added that the company remains committed to achieving its objectives in Q4 through profitable partnerships with distributors and sustained efforts to reduce cost to serve.