Lafarge Africa Q3 2018 Results - Revenue Grows By 4.8% To N234.3bn (SP:N21.00k)

Wednesday, October 17, 2018   11.58AM  / NSE with additional comments from Lafarge

Lafarge Africa Plc released its report this morning, recording a net sales of N234 billion for the nine month period and N72 billion for Q3 ‘2018; an increase of 5% over 2017 (both versus the quarter and the nine months period).

The positive performance, as represented by the company, was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa.

EBITDA for Q3 ‘2018 increased significantly as a result of improved performance in South Africa (while it was down for the nine months period due to South Africa’s performance in Q1 and Q2).

Source: NSE

CLICK HERE TO VIEW MORE 

The CEO of Lafarge Africa Plc, Mr. Michel Puchercos said: 

“We continued to deliver strong margins in our Nigerian business as a result of our successful commercial strategies with improved product visibility and the fast tracking of the new route to market.  Our energy efficiency plan translated in increased use of Alternative Fuel and Coal. Our South African operations delivered first positive recurring EBITDA and are focused on executing its turnaround plan.’’

He further stated that the company has successfully commissioned a new grinding station in Ghana with a capacity of 600KT.

Outlook

Outlook for the cement market in Nigeria remains favourable in Q4 ‘2018. In South Africa, the company expects the execution of its turnaround plan will continue to yield positive results. All product lines are expected to contribute to the performance.

Debt Restructuring

The Board of Lafarge Africa PLC has approved the refinancing of the shareholder loan to $293m with longer maturity and a Right Issue of up to N90bn. The restructuring is aimed at reducing the Company’s leverage position as well as strengthening its profitability. 

CLICK HERE TO VIEW MORE

Related News

1.       Lafarge Africa Plc Holds Emergency Board Meeting; Notifies of Closed Period

2.      Lafarge Africa Loan Restructuring - Silver Lining Or Same Old Story

3.      Lafarge Africa Plc to Hold Extra-Ordinary General Meeting on Sep 25 2018

4.      Lafarge Africa Plc Series 7 Commercial Paper Closes Today

5.      Lafarge Africa Plc Series 7 Commercial Paper Now Open

6.      Understanding Lafarge’s H1 2018 Results

7.      Lafarge Africa PLC - H1 Fails to Flatter, Rights Issue to Provide Reprieve

8.     Lafarge Africa Plc Q2 18 Results - Unchanged Rhetoric As Earnings Remain Depressed

9.      Lafarge Africa Plc H1 2018 Conference Call and Earnings Presentation - The Key Takeaways

10.  Lafarge Absorbs South Africa Operations’ Loss Off N162.29bn Revenue in H1 2018, (SP:N32.50k)

11.   Lafarge Africa Plc - Still Navigating Murky Waters

12.  Lafarge Africa Q1 2018 Results -Earnings Muted By Leverage and Weakness in SA OPS

13.  Lafarge Africa Plc Reports a Pretax Loss of N2.9bn in Q1 2018 Results

14.  Lafarge Africa Plc - One-Offs Weighed On Q4 2017 Earnings

15.   Lafarge Africa Plc Proposes N1.50k Per Share Dividend

16.  Lafarge Africa Plc Announces Board Changes

17.   Lafarge Africa Plc Announces Delay in Filing FY 2017 Financial Statements Lafarge Africa Plc Announces Postponement of Board Meeting

18.  Lafarge Africa Plc Announces Consideration of Audited Financial Statements and Dividend

19. Lafarge Africa Plc Announces Plan to Discuss Dividend Consideration