Lafarge Africa's 9 months net sales up 23.1%

Lafarge Africa Plc, a member of the Holcim Group has announced its 2022 third quarter (Q3) and nine (9) months results.

Over the 9 month period, Lafarge Africa, a global leader in innovative and sustainable building solutions, delivered a net sales growth of 23.1percent and an Earnings before interest and taxes (EBIT) growth of 17.5percent versus last year.

However, In Q3, net sales grew by 12.2percent while EBIT was down 19.3percent versus last year but improved 8percent on a like-for like before exchange rate impact on cost of sales.

Khaled El Dokani, CEO of Lafarge Africa, commented: “In Q3 2022, our Net Sales improved by 12.2percent over Q3 2021. The worsening exchange rate situation impacted our Cost of Sales, specifically key supplies indexed to the U.S dollar. This constrained our recurring EBIT growth. As a result, Q3 EBIT was 19.3percent lower than last year. Without the FX impact, our Q3 EBIT improved by 8percent versus last year.

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“Our 9 months 2022 results underscore the Company’s resilience, with 23.1percent growth in Net Sales, 17.5percent growth in EBIT and 11.2percent growth in Net Income. We remain committed to our sustainability ambitions by utilizing affordable clean energy in our operations and optimising our green logistics strategy; among other initiatives that are in alignment with our net zero pledge journey’’.

According to Dokani “stable demand is expected in fourth quarter (Q4) 2022 and we will continue to maximize volume opportunities across our markets and actively manage our costs through our efficiency initiatives”.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.