Lafarge posts N51bn PAT, N230.5bn revenue

Lafarge has reported a revenue earnings of N293.0 billion in 2021 financial year as against the N230.5 billion it made in 2020. The company’s annual financial statement indicates that its net sales grew by 27.1 per cent when compared to the previous year result and its Net Income rose by 65.4 per cent. The result further showed that the company operated with a robust free cash flow after lease of N43.4 billion signifying it under traded during the period.

Commenting on the result CEO of Lafarge Africa, Khaled El Dokani, said “our 2021 performance showed significant improvement, with net sales of +27.1%, recurring EBIT of +42.6% and net income of +65.4%, compared to FY 2020 results. We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey”.

Lafarge Africa Plc, a leading Sub-Saharan Africa building solutions company is a member of Holcim Limited, a world leader in building solutions accelerating our world’s green transformation. Listed on the Nigerian Exchange Group, Lafarge Africa is actively participating in the urbanization 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.