Lafarge Africa Plc’s (NGX: WAPCO) profit after tax for the half-year period ended 30 June, 2025 has surged by 352% to ₦132.67 billion, from ₦29.35 billion posted for the same period in 2024.
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The Company, a member of Holcim Limited, reported double digit percentage growth in net sales, and triple digit growth in operating profit and earnings per share.
- Net Sales: Q2 2025 ₦268.62Bn, up 70% YoY, H1 2025 up 75% to ₦516.97Bn ; fueled by improved volumes, on the back of enhanced plant stability.
- Operating Profit: Q2 and H1 2025 up 153% and 144% YoY to ₦120.61Bn and ₦192.27Bn, respectively, on the back of topline growth and operational efficiencies.
- Operating Margin: Q2 2025 45%, up from 30% PY, with H1 Closing at 37% vs 27% PY.
- Profit After Tax: Q2 2025 ₦84.03Bn, up 248%; H1 2025 ₦132.67Bn, up 352%; strengthened by relative stability of the Naira. Prior year was heavily impacted by FX losses.
Lolu Alade-Akinyemi, CEO of Lafarge Africa, commented, “Following our impressive Q1 results, Q2 performance further showcases the strength of our team, market positioning, operational efficiency, cost
management, and dedication to value creation. We achieved excellent financial results in Q2, with Net Sales growth of 70%, Operating Profit up 153%, and Profit After Tax of N84bn, up 248% vs prior year.
With this strong Q2 result, we closed H1 with sales and operating profit growth of 75% and 144% respectively; driven by volume growth, operational excellence, innovative product offerings and our
proactive market Initiatives.
Looking ahead and mindful of the ever-evolving macroeconomic conditions, we are confident in our ability to continue to deliver value by focusing on our strategic priorities, while leveraging innovation and green growth, in line with our sustainability ambitions.
I am deeply grateful to our exceptional team, valued customers, and loyal stakeholders for their unwavering contributions and support of Lafarge Africa. Despite the challenging macroeconomic environment, your commitment continues to inspire us and strengthen our confidence in the future”.
Of the Group’s ₦516.97Bn H1 revenue, ₦504.36Bn came from the sale of cement, ₦12.03Bn came from the sale of aggregates and concrete while the remaining ₦577.90Mn came from other products like sale of mortar and power.
With ₦221.20Bn reported as cost of sales, ₦77.40Bn reported as selling and distribution costs, and ₦30.73Bn spent as administrative expenses, amongst others, Lafarge posted an operating profit of ₦192.27Bn, a profit before tax of ₦199.73Bn and a profit after tax of ₦132.67Bn.
It’s Earnings per Share (EPS) went from ₦1.82 reported for the same period in 2024, to ₦8.24.
Lafarge Africa Plc has 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 Plc has a current installed cement production capacity of 10.5Mtpa.
As at 30 June, 2025, the Company has assets totaling ₦1.02Trn (31 Dec. 2024: ₦990.50Bn). Of this asset value; ₦619.22Bn (31 Dec. 2024: ₦576.50Bn) is non-current, mostly property, plant and equipment worth ₦422.25Bn, while ₦407.73Bn are current assets, predominant amongst the items are inventories valued at ₦115.76Bn, and cash and cash equivalent valued at ₦210.01Bn.
Total liabilities stood at ₦473.40Bn ((31 Dec. 2024: ₦485.86Bn), comprising of ₦393.92Bn current liabilities and ₦79.47Bn non-current liabilities. Trade and other payables and contract liabilities are the biggest components of the Company’s liabilities with ₦193.59Bn and ₦130.83Bn respectively.
Shareholder’s equity stood at ₦553.55 (31 Dec. 2025: ₦504.64Bn), comprising of Share premium ₦435.14Bn, retained earnings ₦364.48Bn, share capital ₦8.05Bn and a negative “other reserves” amounting to ₦254.12Bn.
The Company reported a healthy cash flow, generating ₦93.06Bn from operations, while closing with a cash and cash equivalent of ₦207.44Bn at the end of the period (30 Jun. 2024: ₦90.84Bn).
The issued and fully paid-up Share Capital of the Company as at 31 December 2024 was 16,107,795,721 ordinary shares of 50kobo each (31 December 2023: 16,107,795,721 ordinary shares of 50 kobo each).
The Register of Members shows that two companies: Associated International Cement Limited (AIC UK) and CariCement BV, each held more than 5% of the Company’s Issued share capital.
Holcim Limited is an international investor holding its shares in the names of its subsidiaries: AIC UK (27.77%) and CariCement BV (56.04%). Total shareholding of Holcim Limited in the Company was 83.81% as at 31 December 2024.
The remaining 16.19% of the issued shares were held by other individuals and institutions.
Holcim announced on 1 December 2024 that it had signed an agreement to sell its entire 83.81% in Lafarge Africa Plc to
Huaxin Cement Ltd. The transaction is subject to customary and regulatory approvals.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
