| Corporate Results |    6230 VIEWS  |
| Corporate Results | |
| 6230 VIEWS | |
 |
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
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.
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
Signup with Facebook
Signup with Twitter
