Elegbede Abiodun
BUA Cement has released its first quarter (Q1) ended March 31, 2026 unaudited financial statements with about N355 billion revenue, representing 22.1 per cent increase over N290.8 billion in the corresponding first quarter ended March 31, 2025.
The cement maker on the Nigerian Exchange Limited in its profit loss figures announced profit before tax of N192.7billion in Q1 2026, representing an increase of 93.2 per cent from N99.7 billion in Q1 2025 with profit after tax at N176.4 billion in Q1 2026, a growth of 117.4 per cent from N81.1billion in Q1 2025.
According to the company, the Q1 2026 result was driven by cost efficiency, reflecting the outcome of earlier strategic alignment, and supported by strong interest income growth and foreign exchange gains.
The company noted that direct cost per tonne declined for the second consecutive year, down 2.1per cent year-on-year, underscoring sustained cost control and operational efficiency.
Total cost, including selling, distribution, and administrative expenses, rose marginally by 1.9per cent to N175.8 billion from N172.5 billion in Q1 2025, remaining below the average inflation rate for the period despite global energy shocks arising from geopolitical tensions.
Overall, business margins held at acceptable levels. Specifically, gross profit and EBITDA margin rose by 9.2per cent and nine percent points, respectively to 56.9per cent and 53.9per cent.
Furthermore, the company reported an EPS of N5.21 in Q1 2026 from N2.40 in Q1 2025, along with a return of equity of 23.2 per cent in Q1 2026 from 18.9per cent in Q1 2025.
Speaking on the results release, the Managing Director, BUA Cement, Mr. Yusuf Binji in a statement said, “It is encouraging to see our results and organisational transformation aligning so well. Revenue growth remained strong as we continue to meet cement demand, including in the bulk segment.
“We also progressed our business transformation programme during the quarter, including the realignment of the Transport Department for greater effectiveness. While the transition presented some challenges, we have now achieved operational stability.
“Following the strategic alignment initiated mid-last year, we expect the benefits to be fully reflected in our bottom line this fiscal year and sustained thereafter.
“Considering the current geopolitical environment, our cost reduction initiatives have proven timely, safeguarding our profitability and reinforcing operational agility.
“Over the coming quarters, our focus will be on further reducing operating costs through optimisation and enhanced monitoring, while increasing brand penetration, particularly within what we define as ‘new markets.”
Investors reacted as the company’ s stock price gained N8.30 per share in its week-on-week (WoW) performance to close at N335.00 per share as of April 24, 2026 from N326.70 per share the stock opened for trading.
