Lafarge Africa CEO speaks on FY’21 earnings
CEO of Lafarge Africa, Khaled El Dokani says the company’s 2021 performance showed significant improvement from the previous year, as revenue from sales rose by 27 per cent to 293 billion naira in 2021. He joins CNBC Africa to unpack the recently released earnings.
Mon, 07 Mar 2022 14:38:57 GMT
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AI Generated Summary
- Lafarge Africa's 2021 performance showed significant improvement with a 27% rise in revenue, driven by increased cement sales and favorable pricing dynamics.
- The company has navigated challenges such as inflation, currency fluctuations, and energy costs by focusing on cost management and sustainability initiatives.
- Lafarge Africa remains optimistic about sustaining growth momentum, doubling dividends for shareholders, and investing in capacity expansion projects for future growth.
Lafarge Africa, one of the leading cement companies in Nigeria, has delivered an impressive performance in 2021, showcasing significant improvement in revenue and profits compared to the previous year. The company's CEO, Khalid El-Dokani, shared insights in an exclusive interview with CNBC Africa, highlighting the key drivers behind the stellar performance and outlining the strategies for sustaining growth in the future. El-Dokani attributed the company's success to a combination of factors, including increased cement sales, favorable pricing dynamics, and a focus on cost management and sustainability initiatives. The robust demand for cement in Nigeria, driven by infrastructure development projects at both the federal and state levels, has been a key contributor to Lafarge Africa's strong financial results. El-Dokani emphasized the importance of controlling controllable factors and remaining focused on core business strategies to navigate challenges like inflation, currency fluctuations, and energy costs. Despite these hurdles, Lafarge Africa managed to double its dividends for shareholders in 2021, reflecting a commitment to maintaining a healthy balance sheet and rewarding investors. Looking ahead, El-Dokani expressed confidence in the company's ability to sustain its growth momentum and deliver favorable results in the coming quarters. The CEO also provided insights into key projects in the pipeline for 2022, focusing on capacity expansion and operational efficiencies. As Lafarge Africa continues to invest in enhancing its production capabilities, El-Dokani remains optimistic about the future growth prospects for the company and the cement industry in Nigeria. With a long-standing presence in the Nigerian market and a strong focus on community development and sustainability, Lafarge Africa is poised to capitalize on the country's infrastructure needs and drive growth over the next five years. Despite uncertainties in the macroeconomic environment, El-Dokani's outlook remains positive, emphasizing the company's resilience and adaptability to external challenges. As Lafarge Africa looks to the future, the focus remains on delivering value to shareholders, driving innovation in cement production, and contributing to the country's economic development.
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