Dangote Cement, International Breweries top firms with highest shareholders’ equity in H1

Dangote Cement, International Breweries and Lafarge Africa have recorded the highest shareholders’ equity out of twelve manufacturing firms in the first half of 2024, BusinessDay analysis shows.

Eight firms which are Dangote Cement, International Breweries, Lafarge Africa, BUA Foods, Unilever Nigeria, Nascon Allied Industries, Champion Breweries and Cadbury Nigeria recorded a positive shareholders equity which totalled N3.51 trillion.

On the flip side, four manufacturing firms which are Nigerian Breweries, Dangote Sugar Refinery, Nestle Nigeria and BUA Cement recorded a negative shareholders’ equity of N608 billion in the first half of 2024.

Shareholders’ equity represents the net worth of a company, which is the naira amount that would be returned to shareholders if a company’s total assets were liquidated, and all of its debts were repaid.

Firm analysis

Dangote Cement

Dangote Cement recorded the highest shareholders equity of N2.11 trillion in the first half of 2024.

The firm’s shareholders’ equity in the first half of 2024 was driven by a currency translation reserve of N1.35 billion, retained earnings of N789.8 billion, share premium of N42.4 billion, share capital of N8.52 billion, capital contribution of N2.88 billion while treasury shares stood at a negative of 86.6 billion.

International Breweries

International Breweries’ shareholders equity stood at N452.4 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by other reserves worth N514.2 billion, share premium of N159.8 billion, employee benefit reserves of N33.4 million, share capital of N13.4 billion while there was a retained loss of N235.1 billion.

Lafarge Africa

Lafarge Africa’s shareholders equity stood at N433.8 billion in the first half of 2024.

The firm’s shareholders’ equity in the first half of 2024 was driven by a share premium of N435.1 billion, retained earnings stood at N244.7 billion, share capital amounted to N8.05 billion while other reserves arising on the business combination and reorganisations amounted to negative N254.1 billion.

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BUA Foods

BUA Foods’ shareholders equity stood at N392.9 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by retained earnings of N384.9 billion and share capital of N9 billion while reorganisation and other reserves stood at a negative of N943.2 million.

Unilever Nigeria

Unilever Nigeria’s shareholders equity stood at N74.6 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by a share premium of N56.8 billion, retained earnings of 14.9 billion and ordinary share capital of N2.87 billion.

Nascon Allied Industries

Nascon Allied Industries’ shareholders equity stood at N32.3 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by retained earnings of N30.5 billion, share capital of N1.35 billion and share premium of N434 million.

Champion Breweries

Champion Breweries shareholders equity stood at N10.8 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by share capital of N3.91 billion, other reserves of N3.7 billion, retained earnings of N2.67 billion and share premium of N519.1 million.

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Cadbury Nigeria

Cadbury Nigeria’s shareholders equity stood at N2.53 billion in the first half of 2024.

The firm’s shareholders’ equity in the first half of 2024 was driven by other reserves which stood at N23.1 billion, share premium of N7.1 billion, share capital of N1.14 billion and share-based payment reserve of N201.6 million while retained loss amounted to N201.6 million.

Nigerian Breweries

Nigerian Breweries shareholders equity stood at a negative of N22.1 billion in the first half of 2024.

The firm’s negative shareholders equity in the first half of 2024 can be attributable to a negative retained earnings of N111.3 billion. However, share premium contributed N82.9 billion, share capital amounted to N5.14 billion and share based payment reserve which stood at N1.15 billion.

Dangote Sugar Refinery

Dangote Sugar Refinery’s shareholders equity stood at a negative of N64.7 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by negative retained earnings of N77.1 billion while share premium contributed a positive N6.32 billion and share capital contributed a positive N6.07 billion.

Nestle Nigeria

Nestle Nigeria’s shareholders equity stood at a negative of N104.9 billion in the first half of 2024.

The firm’s negative shareholders equity in the first half of 2024 was driven by negative retained earnings of N255.5 billion. However, the revaluation reserve contributed a positive of N150 billion, share capital (N396.3 million), share based payment reserve (N222.5 million) and share premium of N32.3 million.

BUA Cement

BUA Cement’s shareholders equity stood at N419.5 billion in the first half of 2024.

The firm’s shareholders equity in the first half of 2024 was driven by retained earnings of N203.8 billion, re-organisation reserve of N200 billion, share capital of N16.9 billion while actuarial reserves stood at a negative of N1.23 billion.