Lafarge Africa Plc has delivered a stellar financial performance for the fiscal year 2024, posting a recordbreaking ₦697 billion in net sales, a 72 per cent year-onyear (YoY) surge, underpinned by robust volume growth and operational efficiency.

The company’s profit after tax (PAT)also skyrocketed by 96 per cent to close at ₦100.145 billion, up from N51.141 billion reinforcing its position as a dominant player in Nigeria’s construction and building materials sector.

An analysis of the financial result filed to the Nigerian Exchange on Thursday showed the cement manufacturer sustained its impressive momentum in the final quarter, with net sales climbing 86% N216.816 billion versus N116.422 billion in the corresponding period in 2023.

Similarly, operating profit soared 103 per cent year-on-year to N66.408 billion up from N32.674 billion while profitability indicators remained strong, with operating margins rising to 28 per cent in FY 2024 (from 25% PY) and 31 per cent in Q4 2024 (from 28% PY).

Lafarge Africa’s remarkable growth trajectory was driven by a diversified product portfolio, strategic cost management, and an unwavering commitment to sustainability.

In a statement filed to the NGX, Lafarge Chief Executive Officer, Lolu Alade-Akinyemi, expressed confidence in the company’s resilience, stating: “I am excited to report our record-breaking revenue of ₦697 billion and PAT of ₦100 billion for FY 2024—a testament to our strong market positioning, operational efficiency, and dedication to value creation.

“Despite macroeconomic headwinds, we have remained agile, leveraging innovation and sustainable growth to drive long-term profitability,” the CEO enthused, citing their product innovation in the review period.

In a bid to redefine industry standards, Lafarge Africa launched several pioneering products in 2024, strengthening its foothold in the market: Watershield Cement (Q1 2024) – A breakthrough cement solution designed to prevent water seepage, enhancing structural durability.

Supa Whyte Plaster of Paris (POP) (Q4 2024) – A versatile, highquality product expanding Lafarge’s decorative and finishing solutions.

Lafarge Africa continued its sustainability drive with the launch of ECOPlanet cement in Q3’24, an innovative low-carbon product aimed at reducing the industry’s environmental impact.

Additionally, the introduction of Calcined Clay in Q4’24 into its manufacturing process marked a milestone in CO₂ emission reduction, reinforcing the company’s green ambitions.

Despite inflationary pressures, Lafarge Africa remains optimistic about the Nigerian infrastructure and construction sector, projecting continued market recovery at a pace similar to 2024.

The company plans to maximize volume opportunities, enhance cost efficiency, and accelerate its green growth strategy through cutting-edge building solutions.