BUACEMENT delivered a strong top-line performance with a revenue growth of 40.50% YoY to NGN262.59bn as a result of increased price and sales volume during the period. Similarly, EBITDA grew by 31.46% YoY to NGN114.95bn due to the higher growth in revenue which outweighed the increase in energy products cost and distribution cost. The increase in distribution cost was as a result of the spike in AGO prices.
WAPCO sustained its growth momentum as its revenue improved significantly by 23.11% YoY to NGN269.85bn in 9M:2022, with the second quarter (+35.57%) being the major contributor to growth. The growth was broad based across all business segment with the cement segment (+96.89%) accounting for a major part of the growth.
