The company reported a pre-tax profit of N465.28 billion, representing a remarkable 367% increase from the N99.63 billion recorded in 2024. The strong earnings growth was supported by solid revenue expansion and improved cost management across key operational areas.
Strong Revenue Expansion Anchors Growth
Revenue for the 2025 financial year climbed to N1.18 trillion, marking a 34.56% year-on-year increase from N876.47 billion in 2024. The growth reflects robust domestic demand and improved market penetration within Nigeria’s construction and infrastructure sectors.
The company’s domestic sales remained a primary driver of performance, underpinning the substantial improvement in overall profitability during the year.
Profitability Strengthened Across All Levels
BUA Cement’s operational efficiency and improved financial structure translated into significant gains across major profitability metrics:
- Revenue: N1.18 trillion (▲34.56% YoY)
- Cost of Sales: N575.26 billion (▼0.16% YoY)
- Gross Profit: N604.18 billion (▲101.15% YoY)
- Operating Profit: N504.55 billion (▲249.65% YoY)
- Profit After Tax: N356.04 billion (▲381.73% YoY)
- Earnings Per Share: N10.51 (▲382.11% YoY)
The modest decline in cost of sales, despite higher revenue, significantly boosted gross margins. Operating profit more than tripled, reflecting disciplined expense management and improved operating leverage.
A notable contributor to the earnings rebound was the sharp reduction in foreign exchange losses, which fell to N9.6 billion, compared to N92 billion in 2024. This easing of FX pressure provided substantial relief to the bottom line.
Finance costs also declined to N56 billion, down from over N60 billion in the previous year. Interest expenses on borrowings dropped significantly to N52 billion, compared to N99.8 billion in 2024, reflecting improved debt management and a stronger liquidity position.
Strengthened Balance Sheet Signals Financial Resilience
BUA Cement’s balance sheet showed considerable strengthening during the year.
- Total Assets: N1.86 trillion (▲18.20% YoY)
- Current Assets: N662.92 billion (▲77.06% YoY)
- Cash & Cash Equivalents: N280.37 billion
- Total Liabilities: N1.18 trillion (▲0.12% YoY)
- Total Equity: N672.90 billion (▲73.18% YoY)
The expansion in current assets was largely driven by a sharp rise in cash holdings, underscoring improved liquidity and financial flexibility. Meanwhile, liabilities remained largely stable, while equity growth reflected the strong retention of earnings during the period.
Dividend Declaration
In recognition of the strong financial performance, the Board approved a final dividend of N10.00 per ordinary share of 50 kobo each for the 2025 financial year, subject to appropriate withholding tax and shareholder approval.
Shareholders listed in the Register of Members as at the close of business on 8 May 2026 will qualify for the dividend, which is scheduled for payment on 21 May 2026.
Market Performance
On the Nigerian Exchange, BUACEMENT closed at N219.00 per share on 27 February 2026, compared to its year-opening price of N178.50, reflecting a year-to-date gain of 22.7%.
The stock has gained 20% over the past four weeks, ranking 41st on the NGX during that period. In 2025, the shares surged 92%, marking a strong recovery from the modest 4.12% decline recorded in 2024.
Outlook
BUA Cement’s 2025 results underscore a year defined by revenue expansion, margin improvement, foreign exchange stability, and stronger balance sheet fundamentals. With profitability at record highs and liquidity significantly improved, the company appears well-positioned to sustain growth momentum amid Nigeria’s evolving economic landscape.