Dangote Cement Plc, Lafarge Africa, and BUA Cement recorded the highest shareholder funds out of 11 manufacturers as of the first quarter of 2024, data compiled by BusinessDay shows.
The manufacturers’ latest financial statements show that Dangote Cement Plc, Lafarge Africa, and BUA Cement had N2.26 trillion, N440.2 billion, and N403.2 billion shareholder funds.
Shareholders’ fund represents a company’s net worth, 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.
Further analysis of the statements shows that the 10 manufacturers recorded a 11.9 percent growth (N38 billion) in the value of their shareholders’ funds within three months while only Nestle Nigeria recorded a negative shareholders fund of N670.8 billion in the first quarter of 2024.
“Sustained losses drawing from shareholders’ funds could prompt disinvestment from the economy, triggering a more difficult macroeconomic state through a slowdown in output, unemployment, and even more elevated consumer prices,” Ayodeji Ajilore, an investment research analyst with ARM said.
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The manufacturers analysed are Dangote Cement Plc, Lafarge Africa Plc, BUA Cement Plc, BUA Foods Plc, Unilever Nigeria Plc, NASCON Allied Industries Plc, Nigerian Breweries Plc, Dangote Sugar Refinery Plc, Cadbury Nigeria Plc, International Breweries Plc and Nestle Nigeria Plc.
Analysis of individual firm
Dangote Cement Plc
Dangote Cement’s shareholders’ funds were worth N2.26 trillion in the first quarter of 2024 from N1.73 trillion as of December 2023.
Total assets grew to N5.13 trillion from N3.94 trillion while total liabilities grew to N2.87 trillion from N2.21 trillion.
The firm is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. It is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.
BUA Foods Plc
BUA Foods’ shareholders’ funds were worth N317.9 billion in the first quarter of 2024 from N262.1 billion in December 2023.
Total assets grew to N1.08 trillion from N1.07 trillion while total liabilities grew to N764.6 billion from N808.4 billion.
The firm operates as a food and fast-moving consumer goods company. It processes, manufactures, and distributes food products such as flour and pasta, sugar, refined oil, and rice.
BUA Cement Plc
BUA Cement’s shareholders’ funds were worth N403.2 billion in the first quarter of 2024 from N385.2 billion in December 2023.
Total assets grew to N1.25 trillion from N1.22 trillion while total liabilities grew to N842.7 billion from N830.5 billion.
The firm is engaged in the manufacturing and marketing of cement products. It offers its products under the brand name BUA Cement. The company was founded in 2008 and is headquartered in Lagos, Nigeria.
Unilever Nigeria Plc
Unilever’s shareholders’ funds were worth N77.87 billion in the first quarter of 2024 from N74.5 billion in December 2023.
Total assets grew to N126.1 billion from N116.3 billion while total liabilities grew to N48.2 billion from N41.8 billion.
Its product portfolio encompasses toothpastes, soaps, washing detergents, dishwashing liquids, baby products, lotions and petroleum jelly, margarine, tea, and bouillon cubes.
NASCON Allied Industries Plc
NASCON Allied Industries shareholders’ funds were worth N28.7 billion in the first quarter of 2024 from N27.5 billion in December 2023.
Total assets grew to N84.8 billion from N83.6 billion while total liabilities stood at N56.1 billion from N56.1 billion.
It is a Nigeria-based company that is engaged in the processing of raw salt into refined, edible, and graded salt.
The company’s products include salt, seasoning, and spices. Its salt products include table salt, pure dried and vacuum (PDV) salt, tannery salt, butter salt, edible industrial salt, and non-edible industrial salt.
Lafarge Africa Plc
Lafarge Africa’s shareholders’ funds were worth N440.2 billion in the first quarter of 2024 from N435.1 billion in December 2023.
Total assets grew to N673.9 billion from N681.4 billion while total liabilities grew to N233.7 billion from N246.3 billion.
The firm provides cement products and solutions. The Company offers concrete, aggregates, admixture, store fronts, and other relates products, as well as building and construction materials for landmark projects. Lafarge Africa serves customers in Nigeria and South Africa.
Cadbury Nigeria Plc
Cadbury Nigeria’s shareholders’ funds were worth N5.66 billion in the first quarter of 2024 from a negative N6.51 billion in December 2023.
Total assets grew to N69.3 billion from N63.4 billion while total liabilities grew to N63.6 billion from N69.9 billion.
The firm is a food, sweets, and drink company headquartered in Lagos, Nigeria, and traded on the Nigerian Stock Exchange. It is a subsidiary of Mondelez International, one of the largest snacking companies in the world.
Nigerian Breweries Plc
Nigerian Breweries’ shareholders’ funds were worth N11.41 billion in the first quarter of 2024 from N63.28 billion in December 2023.
Total assets grew to N856.8 billion from N795.9 billion while total liabilities grew to N845.4 billion from N732.6 billion.
The firm engages in the brewing, marketing, and selling of lager, stout, non-alcoholic malt drinks, and soft drinks in Nigeria. It offers its products under the Star, Heineken, Gulder, Star Radler, More, Desperados, 33 Export, Star Lite, Goldberg, Life, Tiger, Turbo King, Legend, Williams, Legend and Climax.
Others are Amstel Malta, Amstel Malta Ultra, ZAGG, Maltina, Malta Goldberg lager, Malta Gold malt drink, Life Continental lager, Hi-Malt, and fayrouz brands. It also provides Climax herbal energy drink and spirits.
Dangote Sugar Refinery Plc
Dangote Sugar Refinery’s shareholders’ funds were worth N10.25 billion in the first quarter of 2024 from N79.2 billion in December 2023.
Total assets grew to N617.8 billion from N600.8 billion while total liabilities grew to N607.6 billion from N521.5 billion.
The firm is an agribusiness firm which specialise in refining raw sugar into edible, fortified, and non-fortified granulated white sugar. Based in Lagos, Nigeria, with a robust annual production capacity of 1.44 million metric tons, the company is committed to Nigeria’s self-sufficiency in sugar production.
International Breweries Plc
International Breweries’ shareholders’ funds were worth N5.35 billion in the first quarter of 2024 from N115.4 billion in December 2023.
Total assets grew to N746.3 trillion from N724.5 trillion while total liabilities grew to N740.9 billion from N609.1 billion.
It is a Nigeria-based brewing company. The principal activities of the Company are brewing, packaging, and marketing of beer, alcoholic flavored/non-alcoholic beverages, and soft drinks. The firm’s geographical segment includes Nigeria with brands that include Budweiser, Trophy Lager, and Trophy Stout. It has four breweries, which are located in different parts of Nigeria.
Nestle Nigeria Plc
Nestle Nigeria’s shareholders’ funds were worth a negative N670.8 billion in the first quarter of 2024 from a negative N78.04 billion as of December 2023.
Total assets grew to N775.5 billion from N581.8 billion while total liabilities grew to N846.3 billion from N659.8 billion.
The firm is a publicly listed food and beverage specialty company headquartered in Lagos. It’s mostly owned by a holding company based in Switzerland and have ties to the company Tolaram Group. The company was founded in 1961 and conducted trading under the name of Nestle Products Nigeria Limited.
