…as China’s Huaxin Cement Company Limited takes full control of the cement manufacturing company with the appointment of new non-executive directors and the resignation of the non-executive directors representing the interest of former owners, Holcim Group
Industrial goods manufacturing company, Lafarge Africa Plc has reported a profit after tax of N207.78 billion for the nine months ended September 30, 2025. The amount represents a jump of about 246% compared to the N60.08 billion it posted in the corresponding period of 2024.
Lafarge Africa which manufactures Elephant Cement and other construction materials was acquired by China’s Huaxin Cement Company Limited late last year from Holcim Group, a Swiss firm, at $1 billion.
The performance of the company in the 3rd quarter of 2025 was generally impressive, with the bottomline and topline witnessing remarkable growth.
The company posted revenue of N263.51 billion for the three months ended September 30, 2025, up from N183.92 billion it reported in the 3rd quarter ended September 30, 2024. This represents an increase of 43%.
In the same vein, the company’s operating profit jumped 107% to reach N106 billion at the end of the 3rd quarter of 2025.
The company’s revenue for the nine months ended September 30, 2025 was N780.49 billion compared to N479.50 billion reported in the corresponding period of 2024, representing a growth of 63%.
Following the same growth pattern, the company’s operating profit for the nine months in 2025 jumped by 129% to hit N298 billion compared to the N130.08 billion it achieved in the corresponding period of 2025.
Commenting on the results, Chief Executive Officer of Lafarge Africa, Mr. Lolu Alade-Akinyemi, said: “Building on the performance from previous quarters, Q3 results showcase our cost discipline, strategic market positioning, unwavering commitment to value creation, and strong operational efficiency – demonstrated by a +7% YoY improvement in capacity utilisation. We ended Q3 with Net Sales up 43%, Operating Profit up 107%, and Profit After Tax of N75bn. We closed 9M 2025 with Net Sales and Operating Profit up 63% and 129%, respectively. Our 9M 2025 performance reaffirms our resilience, underpinned by sustained volume growth, operational excellence, innovative product offerings, and agile response to market opportunities. As we look forward, we remain attentive to the dynamic macroeconomic environment, and we are confident that our resilience and strategic focus position us to seize emerging opportunities, drive sustainable growth, and deliver lasting value”.
Meanwhile, the company has informed the Nigerian Exchange (NGX) and the investing public of the resignation of the non-executive directors representing the interest of the former owners, Holcim Group, and the appointment of new non-executive directors representing the interest of the new owners, Huaxin Cement Company Limited.
The non-executive directors that resigned from the board of the company are Messrs Kaspar Theiler, Khaled El Dokani, Rajesh Surana, Grant Earnshaw and Taner Demir, while the new non-executive directors are Messrs Gang Xu, Qian Chen, Jiajun Wang, Xuanqian Wang and Lin Zhang. The appointment of the new non-executive directors is, however, subject to the approval of the members of the company at their next annual general meeting.
