BUA Cement Plc reported a profit after tax of ₦356.04 billion for the year ended December 31, 2025, representing a 382 percent increase from ₦73.91 billion recorded in 2024 as revenue rose sharply and foreign exchange losses moderated significantly.
Revenue from contracts with customers grew 34.6 percent to ₦1.18 trillion, compared to ₦876.47 billion in the previous year.
Despite relatively flat cost of sales at ₦575.26 billion, gross profit more than doubled to ₦604.18 billion, up from ₦300.27 billion.
The strong margin expansion reflects improved pricing dynamics and cost containment, with gross margin rising from approximately 34 percent in 2024 to over 51 percent in 2025.
Foreign exchange losses declined sharply to ₦9.70 billion, compared to ₦92.11 billion in 2024. Distribution and selling expenses increased to ₦63.61 billion from ₦42.86 billion, while administrative expenses rose moderately to ₦27.83 billion.
Operating profit surged to ₦504.55 billion, up from ₦144.30 billion in the prior year, marking a 249 percent increase.
Net finance cost improved slightly to ₦39.28 billion from ₦41.86 billion as finance costs declined to ₦56.29 billion. Profit before tax rose to ₦465.28 billion, compared to ₦99.63 billion in 2024.
Income tax expense increased significantly to ₦109.24 billion from ₦25.72 billion, reflecting higher profitability. Profit after tax stood at ₦356.04 billion, while total comprehensive income reached ₦353.77 billion.
Earnings per share strengthened to ₦10.51, up from ₦2.18 in 2024.
On the balance sheet, total assets expanded to ₦1.86 trillion, from ₦1.57 trillion in 2024, driven by a sharp increase in cash and cash equivalents, which rose to ₦280.38 billion from ₦84.75 billion.
Non-current bank borrowings declined significantly to ₦313.07 billion from ₦444.82 billion, while debt securities issued fell to ₦24.73 billion from ₦57.25 billion, indicating improved debt management and deleveraging.
However, current borrowings increased to ₦156.30 billion from ₦48.31 billion, suggesting short-term liquidity adjustments.
Total liabilities remained broadly stable at ₦1.18 trillion, while shareholders’ equity rose sharply to ₦672.90 billion, compared to ₦388.55 billion in 2024. Retained earnings increased to ₦462.32 billion from ₦175.70 billion.
The 2025 performance underscores BUA Cement’s strong earnings recovery, improved operational efficiency and reduced foreign exchange exposure.
Investors will monitor debt structure adjustments, margin sustainability and pricing strength in 2026 amid broader macroeconomic and energy cost dynamics.