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Home Cement
Cement Industry in the Era of Recovery

Cement Industry in the Era of Recovery

admin by admin
April 7, 2021
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Tuesday, April 06, 2021 / 01:10 PM / by CSL
Analysis / Header Picture Credit score: Ecographics

Proshare Nigeria Pvt. Ltd.

Following the elimination of motion restrictions in Q3
2020 and the resumption of financial actions, the affect of such reopening
was evident within the monetary efficiency of the three main gamers within the
cement business (Dangote Cement,
Lafarge
and BUA
Cement
). Particularly, Dangote Cement recorded a 13% y/y enhance in gross sales
quantity (for its Nigerian operations), whereas Lafarge and BUA Cement reported
development of 6% y/y and 13% y/y, respectively. The expansion throughout the board
displays the complete reopening of the financial system as many residential and industrial
initiatives started operations absolutely.

 

Recall that the restrictive measures put in place in
the second quarter of 2020 dealt an enormous blow to the revenues of two (save for
BUA Cement) main cement gamers. Notably, the CBN Manufacturing PMI confirmed
that demand for brand spanking new orders within the cement subsector slowed to 63.6 factors on the
finish of Q2 2020 from 70 factors in Q1 2020.

 

Nevertheless, demand for actual property investments which
improved amid beneficial climate situations and a low rate of interest setting
led to elevated demand for cement. The rise mirrored in the true property
sector evidenced by the posted restoration of two.81% y/y as of This fall 2020.

 

Moreover, there was an elevated stage of
authorities spending on capital initiatives because the sum of N1.74tn was spent for FY
2020, which is barely under the budgeted capital spending of N1.96tn and
interprets to a efficiency ratio of 89% in contrast with N1.21tn (41% of the
budgeted sum of N2.93tn) achieved in 2019.

 

Wanting forward, we count on reasonable development within the cement
sector to be supported by the federal government’s capital spending. Nevertheless, the
pressured family revenue amid the quick declining buying energy leaves the
chance of a muted demand for housing initiatives. Moreover, we anticipate
extra worth reductions from the market gamers to drive quantity development. That stated,
we imagine for the sector’s potentials to be absolutely attained, demand would wish
to be boosted by improved shopper spending.

 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Associated Information

  1. BUACEMENT Declares N72bn PAT in 2020 Audited Results, Proposes
    N2.067K Final Dividend; (SP:N73.50K)
  2. Dangote Cement FY2020 Results: A Revenue Trot and Bottom-line Gallop
  3. DANGCEM Declares N276bn PAT in 2020 Audited Results, Proposes
    N16.00K Final Dividend; (SP:N220.00K)
  4. Lafarge Africa Plc FY2020 Results: Bottom-line Rises as Pandemic
    Gets Plastered
  5. Lafarge Africa Declares N30.8bn PAT in 2020 Audited Results,
    Proposed N1 Final Div; (SP:N22.50k)
  6. Cement Sector Update – In Search of Growth Triggers
  7. Nigerian Cement Sector Update October 2017: Strong Earnings Growth
    Despite Subdued Macro
  8. Cement Sector Update – Forging Ahead Through Macro Headwinds
  9. Nigerian Cement Sector Report – Cement Price: Litmus Test for FY-15E
    Earnings
  10. CSPR Sector Report – Cement Sector – Emerging Prominence From a
    Deficit Past

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd. 

Proshare Nigeria Pvt. Ltd.





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