− Strong Q3 EBITDA (pre-IFRS 16) increase of 32,7% vs LY
− Operating profit multiplied by 2,7x in Q3 vs LY
− Q3 finance costs drop by 70,6%
− Positive Net income for four consecutive quarters
− Successful divestment from Lafarge South Africa Holdings
− Significant deleveraging with Net financial debt reduction by 79.2%
Lafarge Africa Plc released its report this morning, recording a net sales of N214billion for the nine-month period and N53billion for Q3 ‘2019; a decrease of 25.1% over 2018.
Group Quarter 3 and Nine Months
Michel Puchercos, CEO of Lafarge Africa stated: “Our Strategy 2022 « building for growth » in Nigeria is delivering the expected results with strong EBITDA and operating profit improvement, robust net income and operating cash flow development. Our turnaround and cost reduction strategy in Q3 continues to deliver strong margins with improvement in commercial transformation, logistics performance, industrial & energy efficiencies. Our ambition is to continue the acceleration of growth and earnings in Q4.
Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company is a subsidiary of LafargeHolcim, a world leader in building materials. Listed on the Nigerian Stock Exchange, Lafarge Africa is actively participating in the urbanization and economic growth of Nigeria, the largest economy in Africa.
Based on the above trends, with market demand, which is expected to accelerate in Q4 compared to Q3 2019, a stable pricing environment and the successful execution of Strategy 2022, we expect to continue to deliver in Q4 2019.