Lafarge Forecasts Outlook for African Cement Industry in 2018

Business News

*Paying ShareholdersN13bn Dividend

By Franklin Ocheneyi

“Lafarge Africa Plc is paying out  a dividend of N1.50 per share totaling N13 billion to its shareholders This represents a 43 percent increase growth relative to the dividend paid in 2016..”

In a statement, Bruno Bayet, Chief Financial Officer Lafarge Africa Plc, said that the dividend will be paid from the 2012/2013 pioneer profit reserve”

Michel Puchercos,  the company’s  CEO, added that the strong performance recorded by Lafarge in the year under review was due to recurring EBITDA which  doubled to N57.6 billion in 2017.

According to him, the group’s industrial operations in 2017 were stable with plants operating at high reliability levels..

He also noted that the energy optimization plan for the company has been

successful with increased use of Alternative Fuel and Coal to offset gas shortages in operations in the West while plant operations in the eastern and northern part of the country relied mainly on gas and coal. He said these logistic, commercial and operational initiatives helped to sustain market share in the year under review.

“The expected recovery in the macroeconomic environment in Nigeria is likely to have a positive impact in the overall cement market in Nigeria. Our Business turnaround actions will be consolidated further in 2018 through energy optimisation as well as commercial and logistic improvement.

“For South Africa the economy is expected to grow by 3% in 2018. The turnaround plan of the South African operations is focused on cost containment, commercial transformation and industrial stabilsation. The overall goal is to create value for shareholders through an attractive growth profile and good margins,” he said.

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