BUA Cement makes N16.57bn from foreign exchange gains

BUA Cement made a net foreign exchange gain of N16.57 billion in the first half of 2026. This is a big jump from just N782.8 million during the same time last year. In the full financial year of 2025, the company faced a foreign exchange loss of N9.70 billion.

This change shows that the exchange rate environment is more stable now after the sharp currency changes seen in the last two years.

The better exchange rates helped cut down overall net finance costs to only N3.41 billion. In the same period of 2025, these costs were N31.37 billion, even though the company still has a lot of borrowings.

Finance income also grew a lot to N18.73 billion. This was due to higher interest earned on cash balances.

Strong Cash Flows

BUA Cement kept bringing in good cash flows from operations. This happened even while paying large dividends and spending a lot on expanding capacity.

Net cash from operating activities reached N278.45 billion. This shows how well the business converts its cash. The company spent over N60.67 billion on capital expenditure, mainly for property, plant, and equipment as it works to increase production capacity.

The value of property, plant, and equipment went up to N1.22 trillion from N1.18 trillion at the end of 2025. This shows ongoing investments in production assets and projects still in progress. Construction work-in-progress alone rose to around N183.86 billion, pointing to active expansion efforts.

The earnings report mentioned that BUA Cement is moving ahead with plans to grow its production capacity from 17 million metric tonnes per year to 20 million metric tonnes. This includes building a new cement plant in Ososo, Edo State.

Company Comments

Yusuf Binji, the managing director and CEO, talked about the results. He said the company is focused on finding new growth opportunities while keeping costs in check.

"We have delivered a strong quarter despite the constraints encountered," Binji said.

He pointed out that the company’s growth plans and cost-cutting efforts are starting to show results. Binji is confident that ongoing improvements will lead to better productivity and cost management in the next quarters.

"I am very encouraged by our outlook and performance over the next quarters," he added.