Displaying items by tag: Nigeria
Dangote Cement grows sales and earnings in 2020
25 March 2021Nigeria: Dangote Cement has recorded sales of US$2.52bn in 2020, up by 16% year-on-year from US$2.18bn in 2019. Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 21% to US$1.17bn from US$965m. Total cement sales volumes rose by 8% to 25.7Mt from 23.7Mt and Nigerian cement sales rose by 13% to 15.9Mt from 14.1Mt. Highlights for the year included the start of clinker exports from the Apapa terminal and the commissioning of the Onne cement terminal in Nigeria. The group also commissioned a gas power plant in Tanzania.
Chief executive officer Michel Puchercos said, “Despite the impact of the Covid-19 pandemic, 2020 was a record year for Dangote Cement across the board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance and successful buyback programme. We increased our capacity by 3Mt/yr in Nigeria, commissioned our two export terminals and commissioned our gas power plant in Tanzania. All this was achieved whilst we focused on protecting our people, customers, and communities from the impact of the pandemic.”
Nigeria: Dangote Cement has appointed Guillaume Moyen as its group chief financial officer (CFO).
Moyen joined Dangote Cement in February 2019 as group CFO (operations) and was appointed acting group chief financial officer in March 2019. He is in charge of finance and information technology (IT) and has more than 20 years’ experience in multi-national industrial and services companies notably operating in emerging and frontier markets.
During his career he has worked in finance, risk management, internal control, audit, information technology and procurement working in senior positions in manufacturing, engineering, oil and gas, nuclear energy, mining and consulting sectors notably with the Areva Group, the Ola Energy Group and KPMG. Guillaume is a chartered accountant and holds a Master of Business Administration (MBA) degree from Columbia Business School.
UK: CRH subsidiary Tarmac has appointed Chris Bradbury as the plant manager at its integrated Dunbar cement plant in East Lothian, Scotland. He previously worked at Tarmac’s Tunstead plant in Derbyshire. Bradbury began working in the cement industry as an apprentice in 1994 and has held many roles at plants both in the UK and in Nigeria and the Philippines.
Nigeria: BUA Cement has announced that it will commission the second production line at its Kalambiana cement plant in Sokoto state in July 2021. The Daily Independent newspaper has reported that the upgrade will bring the plant’s cement production capacity to 3Mt/yr. The group intends for the plant to serve the growing domestic cement demand and to stabilise prices.
Nigeria: LafargeHolcim subsidiary Lafarge Africa plans to invest US$8m on an upgrade to the electrostatic precipitator filters at the bagging plant at its Ewekero cement plant. The Punch newspaper has reported that the upgrade requires a six-month shutdown of the unit’s kilns to make the changes. Chief executive officer Khaled El-Dokani said that the investment ‘underscores the company’s commitment’ to sustainability.
LafargeHolcim consolidated sales and recurring earnings fall in 2020
26 February 2021Switzerland: LafargeHolcim’s consolidated net sales in 2020 were Euro21.1bn, down by 5.6% year-on-year on a like-for-like basis from Euro24.4bn in 2019. The group recorded recurring earnings before interest and taxation (EBIT) of Euro3.35bn, down by 2% from Euro3.74bn. Its cement sales fell to 190Mt, down by 7% from 208Mt. It noted an increase in bagged cement sales in emerging markets.
By region the group reported like-for-like growth in sales and earnings in Asia-Pacific driven by recovery in India and China despite weaknesses in the Philippines and Australia. Earnings rose despite falling sales in Europe, Latin America and North America with a resilient market noted in Central Europe and an ‘outstanding’ year reported in Latin America. Middle East Africa reported falling cement demand and adverse market affects from the coronavirus pandemic, although Nigeria remained buoyant.
Chief executive officer Jan Jenisch said, “2020 was an unprecedented year for everyone, challenging us to be more resilient, while stepping up to take care of those around us.” He added, “This crisis has really proven the resilience of our strategy and business model. By the fourth quarter of 2020 we were back to growth, with a 1.5% increase in net sales and over-proportional recurring EBIT of 14%.” The group completed eight ‘bolt-on’ acquisitions in 2020 and signed an agreement to acquire Firestone Building Products, a producer of flat-roofing systems in the US. It also claimed that, “Every tonne of cement we produced in 2020 was more carbon-efficient and contained more recycled material than the year before.”
Dangote Cement warns public against recruitment scam
18 February 2021Nigeria: Dangote Cement has warned the public that confidence tricksters are using its name to offer ‘jobs’ On social media. The Vanguard newspaper has reported that applicants are then being required to pay an ‘administrative fee’ to the scammers.
Corporate communications directorFrancis Awowole-Browne said, “The job advertisements are entirely false and are intended to defraud unsuspecting members of the public. We are clarifying that we have not engaged any individual or job website to advertise job positions on our behalf and none of the contact details, either phone numbers or email, are those of Dangote Cement.” He added, “At Dangote Cement, we fill job positions through a formal procedure with all career opportunities clearly listed on our own website. Furthermore, we never request candidates to pay a fee before they are considered for any position.”
Dangote Cement donates auto rickshaws to host communities
15 February 2021Nigeria: Dangote Cement has donated a total of 10 auto rickshaws to cement plant and limestone mine host communities in Akpata, Iwaa, Obajana and Owo. The Nigerian Tribune newspaper has reported that the aim of the donations is to support business and community transportation. Deputy general manager Ademola Adeyemi said that these fall under the company’s corporate social responsibility.
BUA Cement’s sales and profit after tax rise in 2020
04 February 2021Nigeria: BUA Cement recorded full-year net sales of US$550m in 2020, up by 20% year-on-year from US$460m in 2019. Profit after income taxes was US$185m, up by 16% from US$159m.
In December 2020, Global Cement reported that the company planned to bring three integrated cement plant projects with a total capacity of 9Mt/yr to fruition by the end of 2022. This would bring its installed capacity to 20Mt/yr.
Lafarge Africa to sell 35% stake in CBI Ghana
26 January 2021Ghana/Nigeria: LafargeHolcim subsidiary Lafarge Africa plans to sell its 35% subsidiary Continental Blue Investment (CBI) Ghana. CBI Ghana runs the Supacem brand from the Tema Free Zone near Accra. It reportedly started building a cement grinding plant at the site in 2017 for a cost of US$55m.