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BUA Cement
On this page
Company details
- Legal name
- BUA Cement Plc
- Listing
- BUACEMENT on the Nigerian Exchange, active · ISIN NGBUACEMENT3 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. No emphasis-of-matter or going-concern paragraph; the auditor states 'We have determined that there are no Key Audit Matters to communicate in our report' (PDF p28).
Full wording and sources
Auditor's emphasis of matter
No emphasis-of-matter or going-concern paragraph; the auditor states 'We have determined that there are no Key Audit Matters to communicate in our report' (PDF p28).
Source: BUA Cement Plc Annual Report and Financial Statements for the year ended 31 December 2025 (dated 2026-02-27)
-
Revenue
NGN 1.18 trillion
1,179,444,900 NGN thousands · p33
+34.6% vs 2024
-
Operating profit / (loss)
NGN 505 billion
504,554,420 NGN thousands · p33
+249.6% vs 2024
-
Profit / (loss) for the year
NGN 356 billion
356,038,275 NGN thousands · p33
+381.7% vs 2024
-
Total assets
NGN 1.86 trillion
1,856,127,006 NGN thousands · p34
+18.2% vs 2024
-
Total equity
NGN 673 billion
672,899,646 NGN thousands · p34
+73.2% vs 2024
-
Cash from operations
NGN 451 billion
451,360,740 NGN thousands · p36
+11.4% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, signed / final; reported for the year · source
- FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue from contracts with customers | 1,179,444,900 | 876,469,849 |
| Cost of sales | (575,263,098) | (576,203,317) |
| Gross profit | 604,181,802 | 300,266,532 |
| Other income | 1,504,754 | 1,063,756 |
| Foreign exchange loss - net | (9,696,264) | (92,105,319) |
| Impairment writeback/(loss) financial assets | 188 | (311) |
| Distribution and selling expenses | (63,609,998) | (42,858,640) |
| Administrative expenses | (27,826,062) | (22,061,895) |
| Operating profit | 504,554,420 | 144,304,123 |
| Finance income | 17,010,577 | 18,190,652 |
| Finance costs | (56,288,777) | (60,051,583) |
| Net finance cost1 | (39,278,200) | (41,860,931) |
| Minimum tax charge2 | –3 | (2,813,008) |
| Profit before tax | 465,276,220 | 99,630,184 |
| Income tax expense | (109,237,945) | (25,720,949) |
| Profit after tax | 356,038,275 | 73,909,235 |
| Re-measurement of defined benefit obligations (net of tax)4 | (2,264,938) | (2,856,442) |
| Other comprehensive loss for the year net of taxation | (2,264,938) | (2,856,442) |
| Total comprehensive income for the year | 353,773,337 | 71,052,793 |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (3)
- “Net finance cost” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of finance income and finance costs.
- “Minimum tax charge” is an issuer-specific line, not mapped to a shared definition: Note 13(a); printed above profit before tax.
- “Re-measurement of defined benefit obligations (net of tax)” is an issuer-specific line, not mapped to a shared definition: Note 14(b)(ii); OCI not reclassified.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 1,179,526,058 | 1,182,476,535 |
| Right-of-use assets | 185,872 | 83,750 |
| Intangible assets | 13,498,148 | 13,355,043 |
| Non-Current Assets (unlabelled subtotal) | 1,193,210,078 | 1,195,915,328 |
| Inventories | 171,763,346 | 159,797,427 |
| Trade receivables | 236,843 | 228,544 |
| Prepayments and other assets1 | 160,125,741 | 106,889,873 |
| Due from related parties2 | 50,411,030 | 22,771,443 |
| Cash and cash equivalents | 280,379,968 | 84,749,250 |
| Current Assets (unlabelled subtotal) | 662,916,928 | 374,436,537 |
| Total Assets | 1,856,127,006 | 1,570,351,865 |
| Bank borrowings | 313,072,476 | 444,824,129 |
| Debt security issued3 | 24,730,823 | 57,252,784 |
| Employee benefit obligations | 9,163,468 | 7,134,372 |
| Deferred tax liabilities | 128,209,105 | 47,973,774 |
| Government grant4 | 936,577 | 1,463,930 |
| Provision for decommissioning liabilities5 | 9,278,688 | 48,600,112 |
| Non-Current Liabilities (unlabelled subtotal) | 485,391,137 | 607,249,101 |
| Lease liabilities | 144,936 | 88,171 |
| Contract liabilities | 105,812,462 | 113,936,226 |
| Trade and other payables | 371,519,896 | 377,073,124 |
| Current income tax liabilities | 29,210,383 | 2,470,056 |
| Bank borrowings | 156,303,553 | 48,314,584 |
| Debt security issued3 | 32,523,438 | 28,489,096 |
| Government grant4 | 527,353 | 640,870 |
| Provision for decommissioning liabilities5 | 1,794,202 | 3,542,402 |
| Current Liabilities (unlabelled subtotal) | 697,836,223 | 574,554,529 |
| Total Liabilities | 1,183,227,360 | 1,181,803,630 |
| Ordinary share capital | 16,932,177 | 16,932,177 |
| Retained Earnings | 462,315,489 | 175,699,140 |
| Reorganisation reserves6 | 200,004,179 | 200,004,179 |
| Defined benefit plan reserve7 | (6,352,199) | (4,087,261) |
| Total equity | 672,899,646 | 388,548,235 |
| Total Equity and Liabilities | 1,856,127,006 | 1,570,351,865 |
Notes and alternative reported figures (7)
- “Prepayments and other assets” is an issuer-specific line, not mapped to a shared definition: Note 21.
- “Due from related parties” is an issuer-specific line, not mapped to a shared definition: Note 31(b).
- “Debt security issued” is an issuer-specific line, not mapped to a shared definition: Note 25.
- “Government grant” is an issuer-specific line, not mapped to a shared definition: Note 26.
- “Provision for decommissioning liabilities” is an issuer-specific line, not mapped to a shared definition: Note 23.
- “Reorganisation reserves” is an issuer-specific line, not mapped to a shared definition: Reserve arising on the reorganisation (statement of changes in equity).
- “Defined benefit plan reserve” is an issuer-specific line, not mapped to a shared definition: Cumulative re-measurements of defined benefit obligations.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash generated from operations | 454,561,875 | 408,599,678 |
| Defined benefit paid during the year1 | (855,702) | (868,867) |
| Tax paid | (2,345,433) | (2,477,726) |
| Net cash from operating activities | 451,360,740 | 405,253,085 |
| Purchase of property, plant and equipment | (79,593,593) | (289,726,899) |
| Interest received - investment | 17,010,577 | 18,190,652 |
| Proceeds from disposal of property, plant and equipment | 17,465 | 4,093 |
| Purchases of intangible assets | (826,352) | (1,146,829) |
| Net cash used in investing activities | (63,391,903) | (272,678,983) |
| Dividend paid to equity holders | (69,421,926) | (67,728,708) |
| Principal and interest repayment on lease liability2 | (206,407) | (72,512) |
| Proceeds from borrowings | 16,565,392 | 22,844,569 |
| Principal repayment of borrowings | (50,126,227) | (190,422,793) |
| Interest repayment on borrowings | (49,452,450) | (94,913,336) |
| Principal repayment of debt securities3 | (28,750,000) | (28,750,000) |
| Interest repayment on debt securities4 | (5,928,210) | (8,085,937) |
| Interest payment on overdraft5 | (712) | (3,864,841) |
| Net cash used in financing activities | (187,320,540) | (370,993,558) |
| Total cash movement for the year | 200,648,297 | (238,419,456) |
| Cash and cash equivalents at the beginning of the year | 84,749,250 | 225,077,529 |
| Effects of exchange rate differences on cash and cash equivalents | (5,017,579) | 98,091,177 |
| Cash and cash equivalents at the end of the year | 280,379,968 | 84,749,250 |
Notes and alternative reported figures (5)
- “Defined benefit paid during the year” is an issuer-specific line, not mapped to a shared definition: Note 14(b); operating activities.
- “Principal and interest repayment on lease liability” is an issuer-specific line, not mapped to a shared definition: Note 16(b); financing activities; principal and interest in one line.
- “Principal repayment of debt securities” is an issuer-specific line, not mapped to a shared definition: Note 25(a); financing activities.
- “Interest repayment on debt securities” is an issuer-specific line, not mapped to a shared definition: Note 25(a); financing activities.
- “Interest payment on overdraft” is an issuer-specific line, not mapped to a shared definition: Note 12(b); financing activities.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend paid to equity holders |
(69,421,926) | NGN thousands | Annual report, p37 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid to equity holders |
(67,728,708) | NGN thousands | Annual report, p37 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
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BUA Cement Plc Annual Report and Financial Statements for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · signed / final
Audit: PricewaterhouseCoopers (Chartered Accountants, Lagos), unmodified opinion · signed
Auditor's sign-off: Yinka Yusuf, engagement partner, for PricewaterhouseCoopers
Final status: Independent auditor's report (image-only scan) signed for PricewaterhouseCoopers, Chartered Accountants, Lagos, by the engagement partner Yinka Yusuf (FRC/2013/PRO/ICAN/004/00000005161), dated 27 February 2026 with the ICAN seal (PDF p30, page image; opinion on PDF p28). Statements approved by the board on 27 February 2026 and signed by the chairman (Abdul Samad Rabiu), the chief finance officer (Chikezie Ajaero) and the managing director/CEO (Yusuf Haliru Binji) (PDF p34, page image).
- Document date
- 27 Feb 2026
- Auditor's report
- 27 Feb 2026
- Board approval
- 27 Feb 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · NGN thousands (printed “₦'000”)
- Non-current asset, current asset, non-current liability and current liability subtotals are printed without labels (p34). A minimum tax charge is printed between net finance cost and profit before tax (p33).
- The auditor's report (PDF pp28-30) is an image-only scan without a text layer; the opinion, signature and date were read on the page images.
Technical details
- File
- 86 pages, with a text layer
- SHA-256
e04188bb03b9ea9e9a6e91d5988b6654b8c5a4e458ce4fa50532a3f878a92305- Entity as printed
- BUA Cement Plc (RC 1193879)
- Exchange copy
- retrieved 2026-10-08T18:02:11Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.