Lafarge Africa Sets New Record with N696 Billion Revenue Growth

Lafarge Africa Plc, a prominent provider of innovative and sustainable building solutions, has announced remarkable financial results for the fiscal year 2024, achieving a record revenue of N696.76 billion. This figure marks an impressive 72% increase from N405.50 billion in 2023. The company’s operating profit surged to N193.01 billion, up 89% from N102.02 billion in the previous year.

The Nigerian Exchange (NGX) report indicates that Lafarge’s earnings per share also experienced significant growth, rising 96% from 3.17 to 6.22. Lolu Alade-Akinyemi, CEO of Lafarge Africa, emphasized that despite the inflationary pressures affecting consumer purchasing power, the Nigerian infrastructure and construction sectors have shown remarkable growth.

Alade-Akinyemi attributed the company’s exceptional performance to its strong market positioning and strategic initiatives focused on volume growth, environmental decarbonization, and waste-to-energy conversion. He underscored the importance of innovation and operational efficiency in delivering quality products and solutions to the building market, enhancing cost management, and fostering a supportive environment for employees.

Despite the challenging economic landscape, Lafarge Africa has demonstrated resilience, leveraging innovative practices and sustainable growth strategies to ensure long-term profitability and stakeholder value. The CEO reaffirmed the company’s commitment to leading the market in environmentally friendly building solutions.

Looking ahead, Alade-Akinyemi expressed optimism for 2025, anticipating continued market recovery and growth similar to 2024. The company plans to capitalize on volume opportunities and maintain a focus on cost management while advancing its sustainability goals through the “Accelerating Green Growth” strategy.

He concluded by thanking customers, employees, and stakeholders for their unwavering support in navigating the current macroeconomic challenges.