DANGCEM – Dangote Cement Plc sustained its growth momentum in Q1:2022 as the topline improved by 24.21% YoY to NGN413.81bn, despite the numerous technical issues (gas shortages and plant maintenance) across its different operations that led to a fall in sales volume. In its Nigerian business, volume fell by 1.51% to 4.83Mta while volume in its Pan-African business fell by -7.60% to 7.25Mta. However, the upward review of prices in 2021 compensated for the fall in volume and supported the overall revenue growth.
WAPCO – Lafarge Africa Plc (WAPCO) performance remained upbeat in Q1:2022, as revenue advanced by +26.77% YoY to NGN90.61bn in Q1:2022 (vs NGN71.47bn in Q1:2021). The performance was broad-based as all business segments; cement (+25.96%), aggregates and concretes (+62.29%), and sale of mortar (+60.41%) advanced. While the firm’s volume for the period remained flat at c.1,400 Kilotons, top-line growth was majorly anchored on the upward review of cement prices in Q2:2021 necessitated by naira devaluation and inflationary pressures.
