Lafarge Africa Plc recently announced its 2024 audited financial results, revealing N696.76 billion in revenue.
As a leader in innovative, sustainable building solutions, the firm continues to drive progress while maintaining robust financial growth.
By prioritizing transparency and efficiency, Lafarge strengthens its market position, showcasing resilience and commitment to advancing Nigeria’s construction sector through groundbreaking initiatives.
This marks a significant 72% increase compared to the N405.50 billion recorded in the corresponding period of 2023.
The company’s operating profit also saw substantial growth, rising by 89% to N193.01 billion, up from N102.02 billion in 2023. Additionally, earnings per share (EPS) for the year surged by 96%, moving from 3.17 in the previous year to 6.22 in 2024, according to the financial statement released by the Nigerian Exchange Group (NGX).
Resilience Amidst Economic Challenges
Lolu Alade-Akinyemi, Chief Executive Officer of Lafarge Africa Plc, attributed the company’s strong performance to its strategic initiatives and market positioning. Despite inflationary pressures and a challenging macroeconomic environment, the Nigerian infrastructure and construction sector has experienced remarkable growth, which contributed to Lafarge Africa’s robust results.
“Our outstanding financial performance is a testament to our strong market positioning and our ability to drive volume growth while maintaining a focus on sustainability. We have successfully leveraged innovation and operational efficiency to deliver high-quality products and solutions to the building market,” Alade-Akinyemi stated.
He further highlighted the company’s commitment to decarbonization efforts, including reducing emissions and converting waste into energy, as part of its sustainability strategy. “We remain steadfast in creating a great environment for our people to thrive and delivering value to our stakeholders,” he added.
Sustainability at the Core
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Lafarge Africa’s performance underscores its dedication to sustainable practices and green growth. The company has continued to align its operations with its “Accelerating Green Growth” strategy, focusing on innovative building solutions that are environmentally friendly.
“Our leadership position in providing sustainable building solutions remains a priority as we aim for long-term profitability,” Alade-Akinyemi emphasized. He expressed optimism for 2025, projecting continued market recovery and similar growth trends as observed in 2024. The company plans to maximize volume opportunities across its markets while actively managing costs and advancing its sustainability ambitions.
Acknowledgment of Stakeholders
The CEO extended his gratitude to Lafarge Africa’s customers, employees, and stakeholders for their unwavering commitment amidst industry-wide macroeconomic headwinds. “Their support has been instrumental in enabling us to achieve these remarkable results,” he noted.
About Lafarge Africa Plc
Lafarge Africa Plc is a prominent Sub-Saharan African building solutions company and a member of Holcim Limited, a global leader in sustainable construction solutions. Listed on the Nigerian Exchange Group, Lafarge Africa plays a pivotal role in Nigeria’s urbanization and economic development as the largest economy in Africa.
With cement operations across key regions in Nigeria—Ewekoro and Sagamu (South West), Ashaka (North East), Mfamosing (South East)—and Ready-Mix operations in Lagos, Abuja, and Port Harcourt, Lafarge Africa boasts an installed cement production capacity of 10.5 million metric tons per annum (Mtpa). The company leverages its innovative expertise to deliver value-added products and services in the construction industry.
Holcim Limited is a global leader in sustainable building solutions with net sales of CHF 27 billion in 2023. With a workforce of over 63,000 employees worldwide, Holcim is committed to improving living standards through advanced solutions such as ECOPact, ECOPlanet, and ECOCycle®, as well as Elevate’s roofing and insulation systems.
Lafarge Africa’s exceptional performance in 2024 reinforces its position as a key player in Nigeria’s building solutions market while advancing its sustainability agenda for the benefit of people and the planet.
