BUA Cement Plc reported a pre-tax profit of N556.70 billion for the 9 months ended September 30, 2026, representing a 64.43% improve from N338.57 billion within the corresponding interval of 2025.
The unaudited outcomes additionally present that the nine-month revenue elevated by 26.55% to N1.09 trillion, whereas profit after tax rose by 59.77% to N463.10 billion, supported by improved working margins, decrease finance prices and stronger finance earnings.
The efficiency got here regardless of operational challenges, elevated power prices, and disruptions linked to heavy rainfall.
Key Highlights
- Revenue: N1.09 trillion (Up 26.55% YoY from N858.73 billion).
- Gross profit: N620.27 billion (Up 44.19% YoY from N430.16 billion).
- Operating profit: N536.51 billion (Up 46.73% YoY from N365.63 billion).
- Pre-tax profit: N556.70 billion (Up 64.43% YoY from N338.57 billion).
- Profit after tax: N463.10 billion (Up 59.77% YoY from N289.86 billion).
- EPS: N13.68 (Up 59.77% YoY from roughly N8.56).
- Finance prices: N35.52 billion (Down 36.68% YoY from N56.10 billion).
- Total property: N2.06 trillion (Up 10.84% from N1.86 trillion).
- Cash and short-term deposits: N266.42 billion (Down 4.98% from N280.38 billion).
Management Commentary
Speaking on BUA Cement’s nine-month 2026 monetary outcomes, Managing Director/CEO, Yusuf Binji, mentioned:
- “I am delighted with our performance, which demonstrates resilience despite challenging conditions, particularly on account of the heavy rainfall and its impact on road infrastructure.”
He additional highlighted the corporate’s logistics transformation:
- “We surpassed our quarterly performances of 2025 through the addition of bulk customers, the acquisition of LNG trucks, and the further restructuring of our logistics operations.”
On power prices and operational effectivity, Binji famous that the LNG vehicles would scale back the corporate’s environmental footprint and enhance market penetration. He additionally confirmed that power prices, which have been elevated throughout the quarter due to provide constraints, had since normalised.
Looking forward, he acknowledged:
- “We remain committed to achieving our objectives through profitable partnerships with our distributors and sustained efforts to reduce our cost to serve.”
Driving the numbers
BUA Cement’s earnings development was pushed by greater cement gross sales, improved manufacturing margins, and diminished web financing prices.
- Bagged cement revenue elevated by 18.96% to N1.02 trillion from N857.05 billion, accounting for roughly 93.82% of whole revenue.
- Bulk cement revenue surged to N67.17 billion from N1.69 billion, representing development of roughly 3,881.16%.
The sharp improve in bulk revenue helps administration’s commentary on increasing its bulk buyer base.
Despite revenue development of 26.55%, price of gross sales elevated by solely 8.84% to N466.45 billion, lifting gross profit by 44.19% to N620.27 billion.
Consequently, gross profit margin improved to 57.08% from 50.09%, whereas administration reported that EBITDA margin elevated by 6.3 share factors to 52.7%.
Energy consumption remained a serious price stress, growing by 21.53% to N216.62 billion from N178.24 billion.
- However, operation and upkeep service costs declined to N104.58 billion from N121.12 billion, serving to average manufacturing bills.
According to administration, the improved margins have been supported by decrease operation and upkeep costs and price financial savings related to LNG-powered vehicles.
- The firm additionally highlighted logistical disruptions brought on by heavy rainfall and poor highway infrastructure, alongside provide constraints affecting operations.
Selling and distribution bills elevated by 29.01% to N61.30 billion, whereas administrative bills rose by 26.92% to N23.19 billion.
- Nevertheless, working profit expanded by 46.73% to N536.51 billion, reflecting improved profitability from core operations.
Finance prices declined by 36.68% to N35.52 billion, whereas finance earnings elevated to N26.55 billion from N9.94 billion.
- Consequently, web finance prices narrowed to N8.97 billion from N46.15 billion, offering extra assist to earnings.
The firm additionally recorded a web overseas trade achieve of N29.16 billion, in contrast with N21.63 billion within the corresponding interval of 2025.
These actions lifted the pre-tax profit margin to 51.23% from 39.43%, though greater taxation moderated profit-after-tax development.
The steadiness sheet
BUA Cement’s whole property elevated by 10.84% to N2.06 trillion as of September 2026, from N1.86 trillion at December 2025, pushed partly by development in property, plant and gear, which rose to N1.27 trillion from N1.18 trillion.
- The enlargement within the asset base additionally mirrored will increase in inventories, prepayments and different property, and quantities due from associated firms.
Meanwhile, administration disclosed plans to broaden put in cement manufacturing capability from 17 million to 23 million metric tonnes yearly by means of a proposed greenfield cement plant in Ososo, Edo State.
- Cash and short-term deposits declined by 4.98% to N266.42 billion from N280.38 billion, whereas whole exterior debt elevated by 24.73% to N656.85 billion from N526.63 billion at December 2025.
- On the money stream, the corporate generated N304.54 billion in web working money stream throughout the interval, whereas spending N127.50 billion on property, plant and gear and paying N338.64 billion in dividends to shareholders.
Overall, the outcomes mirror stronger profitability and operational effectivity regardless of greater power bills and elevated borrowing obligations.
Market response
BUA Cement shares closed at N293.40 on October 29, 2026, unchanged from the previous buying and selling session.
The inventory has gained 64.40% year-to-date from its opening worth of N178.50, though it declined by 1.21% over the previous week and seven.15% over three months.
