BUA Cement Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	1,151,798	876,470	459,999	360,989	257,327	209,443
Revenue Growth (YoY)	62.79%	90.54%	27.43%	40.28%	22.86%	19.33%
Cost of Revenue	602,998	576,213	276,043	198,380	136,390	113,965
Gross Profit	548,800	300,257	183,956	162,609	120,937	95,479
Selling, General & Admin	87,094	65,305	41,564	30,189	19,426	15,621
Other Operating Expenses	726.04	1,765	-784.82	-209.67	-830.02	-93.84
Operating Expenses	87,820	67,070	40,779	29,979	18,591	14,172
Operating Income	460,980	233,187	143,177	132,630	102,346	81,307
Interest Expense	-80,177	-56,115	-18,088	-9,538	-1,113	-3,116
Interest & Investment Income	13,480	18,191	12,882	1,941	620.6	859.62
Currency Exchange Gain (Loss)	-13,041	-92,105	-69,956	-5,501	-	-
Other Non Operating Income (Expenses)	-3,542	-3,542	-1,649	-860.74	-511.61	-286.95
EBT Excluding Unusual Items	377,700	99,615	66,365	118,671	101,342	78,763
Gain (Loss) on Sale of Assets	0.95	0.9	-	-	-	-
Asset Writedown	-	-	-	-139.66	-	-
Other Unusual Items	-	-	-	1,433	1,434	-
Pretax Income	377,719	99,630	67,228	120,154	102,873	78,873
Income Tax Expense	62,925	25,721	-2,227	19,143	12,794	6,529
Net Income	314,794	73,909	69,455	101,011	90,079	72,344
Net Income to Common	314,794	73,909	69,455	101,011	90,079	72,344
Net Income Growth	643.14%	6.41%	-31.24%	12.14%	24.51%	19.36%
Shares Outstanding (Basic)	33,864	33,864	33,864	33,864	33,864	33,864
Shares Outstanding (Diluted)	33,864	33,864	33,864	33,864	33,864	33,864
EPS (Basic)	9.30	2.18	2.05	2.98	2.66	2.14
EPS (Diluted)	9.30	2.18	2.05	2.98	2.66	2.14
EPS Growth	643.14%	6.41%	-31.24%	12.14%	24.51%	19.36%
Free Cash Flow	347,396	115,526	36,695	46,236	141,343	-62,901
Free Cash Flow Per Share	10.26	3.41	1.08	1.36	4.17	-1.86
Dividend Per Share	2.050	2.050	2.000	2.800	2.600	2.067
Dividend Growth	2.50%	2.50%	-28.57%	7.69%	25.79%	18.11%
Gross Margin	47.65%	34.26%	39.99%	45.05%	47.00%	45.59%
Operating Margin	40.02%	26.61%	31.13%	36.74%	39.77%	38.82%
Profit Margin	27.33%	8.43%	15.10%	27.98%	35.01%	34.54%
Free Cash Flow Margin	30.16%	13.18%	7.98%	12.81%	54.93%	-30.03%
EBITDA	508,795	268,582	168,540	155,089	117,710	96,733
EBITDA Margin	44.17%	30.64%	36.64%	42.96%	45.74%	46.19%
D&A For EBITDA	47,815	35,395	25,364	22,459	15,365	15,427
EBIT	460,980	233,187	143,177	132,630	102,346	81,307
EBIT Margin	40.02%	26.61%	31.13%	36.74%	39.77%	38.82%
Effective Tax Rate	16.66%	25.82%	-	15.93%	12.44%	8.28%
Advertising Expenses	-	62.28	129.69	92.9	52.74	428.96

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.