BUA Cement Unmoved Despite Healthy Q1 Earnings
BUA Cement Plc’s market value remained unchanged despite its strong earnings performance in the first quarter of 2025. There was no market-related reaction after the cement company filed its first quarter earnings release, keeping its price at N83.7.
One of the members of Nigeria’s cement oligarchy has N2.834 trillion in market value, spread over its 33.864 billion shares outstanding. The cement company is, however, strapped to its founder’s neck.
The shareholding structure reveals that its founder, Abdul Samad Rabiu, and his company, BUA Industries Limited, own 95.78% of the cement company’s outstanding shares as of December 2024.
BUA Cement Plc with a free float value of ₦72,171,767,895 as of 31 December 2024 is compliant with the free float requirement for the Main Board of the Nigerian Exchange, according to details from its audited report for 2024.
In Q1-2025, BUA Cement profit spiked strongly, signaling the previous trend has started to reverse. Its net income rose by 351.4% to N81.124 billion from N17.97 billion posted in the comparable period in 2024.
The impressive uptick was driven by strong revenue growth, efficient cost management, and a significant reduction in exchange losses, according to analysts.
BUA Cement revenue grew by 80.5% year-on-year to N290.812 billion in Q1, according to the company’s unaudited financial statement, from N161.131 billion in the similar period in 2024.
Analysts said the revenue growth was driven by higher volumes, supported by strong infrastructure-led demand and improved production from both existing facilities and recently commissioned plants.
The company is expected to sustain the positive trend amidst sustained capital expenditure and recent capacity boost. #BUA Cement Unmoved Despite Healthy Q1 Earnings
