Lafarge Africa reiterates commitment to sustainable growth

Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, has reiterated its commitment to sustainable growth.

At the 66th Annual General Meeting (AGM) of the company in Lagos, the Chairman of Lafarge Africa Plc, Gbenga Oyebode MFR, stated that the success recorded in the 2024 financial year reflects the shared vision and trust of the company’s shareholders.

“Today’s AGM reflects the strength of our shared vision and the trust of our shareholders. Our remarkable performance amidst economic headwinds underscores our commitment to excellence and sustainable growth. We are well positioned to drive sustainable growth, empower communities, and shape Nigeria’s infrastructure for generations to come,” he said.

The AGM, attended by shareholders, board members, and stakeholders, reviewed the company’s exceptional 2024 financial results and set the stage for accelerated growth.

In the 2024 financial results released in February, Lafarge Africa announced a remarkable revenue of N696.76 billion for the 2024 financial year. The growth in revenue represents an increase of 72 per cent from N405.50 billion recorded in 2023. Operating profit grew by 89 per cent from N102 billion in 2023 to N193 billion in 2024, while profit after tax surged to N100 billion from N51 billion, representing an increase of 96 per cent over 2023.

During the AGM, shareholders approved a final dividend of N1.20 kobo per share, reinforcing the company’s commitment to delivering value. The recent agreement by Holcim Group to sell its 83.81 per cent stake in Lafarge Africa to Huaxin Cement Ltd was also acknowledged, marking a pivotal step towards future expansion and innovation.

Also speaking at the AGM, the Group Managing Director/Chief Executive Officer of Lafarge Africa Plc, Lolu Alade-Akinyemi, stated, “Our 66th AGM celebrates a year of remarkable achievements spurred by innovation and sustainability.

Achieving 76 per cent revenue growth in the face of economic challenges attests to our dedication and strategic focus. We remain committed to innovation, sustainability, operational excellence, and delivering superior value to our stakeholders.”

Mr Eric Akinduro, Chairman of the Ibadan Zone Shareholders’ Association, ratifying the outcome of the AGM, remarked: “This is indeed a remarkable time for the shareholders of Lafarge Africa Plc, owing to the commitment, discipline, dedication, and professionalism demonstrated by the leadership of the organisation. The profit declared demonstrates that Nigerians can achieve excellence when given an enabling environment. With the current trajectory, I am confident that the company’s financial performance will continue to improve year after year.”

Lafarge Africa continues to prioritise sustainable practices, with initiatives aimed at reducing carbon emissions and accelerating green growth. This is highlighted by the company’s adoption of calcined clay in cement production, eco-friendly products, and the expansion of its green logistics framework.

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