BUA Cement Plc has posted a strong set of unaudited results for the nine months ended September 30, 2025, buoyed by a rebound in foreign exchange gains and tighter cost management.
Despite higher finance costs and energy expenses, the company’s earnings surged to record levels, supported by improved margins and stable sales volumes.
Foreign exchange gains and improved efficiency offset higher input costs in Q3 2025.
The sharp turnaround in profitability was largely driven by exchange rate gains, improved production efficiency, and stable volumes, despite persistent cost pressures from energy and maintenance inputs.
The company’s third-quarter result reflected higher pricing and cost discipline across its production plants, even as energy costs rose 14.6% year-on-year to N35.5 billion.
Energy and raw material costs remain the largest expense items, accounting for roughly 40% of total production cost, but efficiency gains and process optimization helped contain overall spending.
The company’s debt profile remains manageable, supported by solid cash generation and moderate leverage levels.
During the period, BUA Cement paid N69.4 billion in dividends, representing N2.05 per share, maintaining its commitment to shareholder returns.
Shareholding remains concentrated, with Abdul Samad Rabiu and BUA Industries Limited jointly controlling over 95% of issued shares.
A key driver of BUA’s improved performance was the N21.6 billion foreign exchange gain, reversing the heavy losses recorded in 2024. The stronger naira and reduced dollar liabilities helped improve net finance costs and overall margins.
“Despite the inflationary pressures on input costs, we have maintained a strong focus on operational efficiency and cost optimization,” said Engr. Yusuf Binji, Managing Director/CEO of BUA Cement Plc.
“Our strategy remains centred on sustaining our production efficiency, strengthening logistics, and supporting the growth of Nigeria’s infrastructure and housing sectors.”
(Source: BUA Cement Plc Q3 2025 Financial Statement, October 2025)
BUA Cement delivered a strong nine-month performance despite cost headwinds, underscoring its ability to protect margins through pricing and efficiency measures.
The profit rebound was primarily driven by foreign exchange gains and disciplined operations rather than volume growth. Sustaining this performance will depend on managing energy costs and macroeconomic stability through the final quarter of 2025.