Lafarge Africa has recorded net sales of NGN162 billion for 1H18, NGN82 billion for 2Q18, and NGN72 billion for 3Q18. In addition, the company has recorded NGN234 billion for the nine month period. This is an increase of 5% from 2017 in both the nine month period and 3Q18 results, where the 2Q18 result is an increase of 11%.
It is thought that this positive performance was driven by a strong volume growth in Nigeria, as well as favourable pricing trends in South Africa. As a result of improved performance in South Africa, EBITDA for 3Q18 increased significantly. However, EBITDA was down for the nine month period due to South Africa’s performance in 1Q18 and 2Q18.
“We continued to deliver strong margins in our Nigerian business as a result of our successful commercial and energy strategies, with improved product visibility and the fast tracking of the new route to market,” said Michel Puchercos, CEO of Lafarge Africa. “Our energy efficiency plan translated into increased use of alternative fuel and coal. Our South African operations delivered positive recurring EBITDA and are focused on executing its turnaround plan.”
Lafarge Africa is a member of the LafargeHolcim Group, which is the biggest building and concrete solutions company in the world.
Read the article online at: https://www.worldcement.com/africa-middle-east/19102018/lafarge-africa-records-net-sales-for-1h18-2q18-and-3q18/