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HBM Nigeria

HBMNG · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
HBM Nigeria Plc
Listing
HBMNG on the Nigerian Exchange, active · ISIN NGWAPCO00002 (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. Key audit matter: determination of provision for expected credit losses on trade receivables (PDF p18).
  • Issued under a former name. Issued under the former name 'Lafarge Africa Plc', company registration number RC 1858, TIN 01057508-0001 (corporate information, p3); note 1 (p27) says the company was incorporated on 24 February 1959 and was formerly known as Lafarge Cement WAPCO Nigeria PLC.
Full wording and sources

  • Auditor's emphasis of matter

    Key audit matter: determination of provision for expected credit losses on trade receivables (PDF p18). It does not modify the opinion.

    Source: Lafarge Africa Plc Annual Report For The Year Ended 31 December 2025 (dated 2026-02-25)

  • Issued under a former name

    Issued under the former name 'Lafarge Africa Plc', company registration number RC 1858, TIN 01057508-0001 (corporate information, p3); note 1 (p27) says the company was incorporated on 24 February 1959 and was formerly known as Lafarge Cement WAPCO Nigeria PLC. Identity case HBM NIGERIA PLC / Lafarge Africa Plc (docs/companies/filings/editorial/identity-resolutions.json): same entity, renamed HBM Nigeria Plc in 2026 (NGX notice of 23 Jun 2026; ISIN NGWAPCO00002).

    Source: Lafarge Africa Plc Annual Report For The Year Ended 31 December 2025 (dated 2026-02-25)

  • Revenue

    NGN 1.07 trillion

    1,066,304,773 NGN thousands · p22

    +53.0% vs 2024

  • Operating profit / (loss)

    NGN 392 billion

    392,099,733 NGN thousands · p22

    +103.2% vs 2024

  • Profit / (loss) for the year

    NGN 273 billion

    273,120,312 NGN thousands · p22

    +172.7% vs 2024

  • Total assets

    NGN 1.21 trillion

    1,208,024,398 NGN thousands · p23

    +22.0% vs 2024

  • Total equity

    NGN 694 billion

    693,995,670 NGN thousands · p23

    +37.5% vs 2024

  • Cash from operations

    NGN 293 billion

    292,628,999 NGN thousands · p26

    +36.7% 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

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Revenue 1,066,304,773 696,757,959
Cost of sales (448,936,725) (350,047,400)
Gross profit 617,368,048 346,710,559
Selling and distribution costs (163,852,784) (120,422,668)
Administrative expenses (65,654,149) (40,146,780)
Other income 4,915,808 7,187,559
Impairment loss1 (677,190) (323,454)
Operating profit 392,099,733 193,005,216
Finance income 30,223,893 2,661,858
Finance costs (11,006,998) (43,148,119)
Net finance costs2 19,216,895 (40,486,262)
Profit before minimum tax3 411,316,628 152,518,954
Minimum tax expense4 –5 (254,069)
Profit before tax 411,316,628 152,264,885
Income tax expense (138,196,316) (52,119,604)
Profit for the year 273,120,312 100,145,281
Remeasurements of defined benefit6 (6,808) 58,875
Related tax7 2,042 (10,552)
Other comprehensive (loss)/income, net (4,766) 48,323
Total comprehensive income for the year 273,115,546 100,193,604
  1. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (6)
  1. “Impairment loss” is an issuer-specific line, not mapped to a shared definition: Note 11; within operating profit (impairment on financial assets as printed).
  2. “Net finance costs” is an issuer-specific line, not mapped to a shared definition: Finance income less finance costs (printed subtotal).
  3. “Profit before minimum tax” is an issuer-specific line, not mapped to a shared definition: Printed subtotal before minimum tax (note 14).
  4. “Minimum tax expense” is an issuer-specific line, not mapped to a shared definition: Note 13.1; Nigerian minimum tax, between profit before minimum tax and profit before tax.
  5. “Remeasurements of defined benefit” is an issuer-specific line, not mapped to a shared definition: Note 30.3; OCI item that will not be reclassified.
  6. “Related tax” is an issuer-specific line, not mapped to a shared definition: Note 13.3; OCI item that will not be reclassified.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Property, plant and equipment and right of use assets 448,580,376 409,761,374
Intangible assets 1,625,889 1,666,681
Investments in subsidiaries1 –2 –2
Other assets3 198,315,151 165,078,654
Total non-current assets 648,521,416 576,506,709
Inventories 112,116,985 104,192,035
Trade and other receivables 13,678,086 9,618,820
Other assets4 22,983,588 28,278,677
Other financial assets5 22,657,015 34,054,807
Cash and cash equivalents 388,067,308 237,858,537
Total current assets 559,502,982 414,002,876
Total assets 1,208,024,398 990,509,585
Lease liabilities 367,591 529,641
Employee benefit obligations 3,075,239 2,591,045
Provisions6 16,211,119 14,515,327
Deferred tax liabilities 77,012,148 71,130,833
Total non-current liabilities 96,666,097 88,766,846
Lease liabilities 940,382 1,473,747
Loans and borrowings –7 210,752
Deferred income8 –7 5,653
Trade and other payables 164,557,981 169,987,481
Contract liabilities 115,946,653 212,455,200
Provisions 3,604,655 1,536,298
Current tax liabilities 132,312,960 11,432,946
Total current liabilities 417,362,631 397,102,077
Total liabilities 514,028,728 485,868,924
Share capital 8,053,899 8,053,899
Share premium 435,148,731 435,148,731
Retained earnings 504,922,097 315,567,088
Other reserves arising on business combination and re-organisations9 (254,129,057) (254,129,057)
Capital and reserves attributable to owners 693,995,670 504,640,661
Total equity 693,995,670 504,640,661
Total equity and liabilities 1,208,024,398 990,509,585
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (7)
  1. “Investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 17.1 (printed '-' in the Group columns).
  2. “Other assets” is an issuer-specific line, not mapped to a shared definition: Note 19; within non-current assets.
  3. “Other assets” is an issuer-specific line, not mapped to a shared definition: Note 19; within current assets.
  4. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 18; within current assets.
  5. “Provisions” is an issuer-specific line, not mapped to a shared definition: Note 28.1; within non-current liabilities.
  6. “Deferred income” is an issuer-specific line, not mapped to a shared definition: Note 29; within current liabilities.
  7. “Other reserves arising on business combination and re-organisations” is an issuer-specific line, not mapped to a shared definition: Note 26; within equity.

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Profit before taxation1 411,316,628 152,518,954
Depreciation of property, plant and equipment and right of use assets2 34,784,416 29,299,768
Impairment loss/(reversal) on property, plant and equipment3 –4 (4,671,207)
Amortization of intangible assets5 40,793 76,641
Other non-cash items6 3,721,308 (185,159)
Net unrealized foreign exchange gain7 –4 (600,174)
Net unrealized foreign exchange loss8 5,811,098 –4
Finance costs9 5,195,900 18,276,770
Finance income10 (30,223,893) (2,061,684)
Provisions and net movement on employee benefits11 2,104,021 (578,896)
Change in net working capital12 (129,634,576) 27,741,414
Cash flows generated from operations 303,115,695 219,816,428
Income taxes paid (10,486,696) (5,689,856)
Net cash flows generated from operating activities 292,628,999 214,126,572
Acquisition of property, plant and equipment and right of use asset (74,609,703) (74,667,895)
Interest received 25,079,530 2,061,684
Proceeds from disposal of property, plant and equipment 229,941 1,233,759
Net cash flows used in investing activities (49,300,232) (71,372,452)
Interest paid13 (8,578,062) (16,571,119)
Dividend paid to equity holders of the company (83,760,538) (30,604,812)
Additions to lease liabilities14 –15 2,163,713
Repayment of lease liabilities (715,394) (1,509,801)
Repayment of loans and borrowings (210,752) (28,341,029)
Net cash used in financing activities (93,264,746) (74,863,048)
Net increase in cash and cash equivalents 150,064,020 67,891,071
Cash and cash equivalents at the beginning of the year 235,230,231 165,844,333
Effects of exchange rate changes on cash and cash equivalents held (319,691) 1,494,827
Cash and cash equivalents at the end of the year 384,974,560 235,230,231
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (13)
  1. “Profit before taxation” is an issuer-specific line, not mapped to a shared definition: Starting point of operating activities.
  2. “Depreciation of property, plant and equipment and right of use assets” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 15).
  3. “Impairment loss/(reversal) on property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 15).
  4. “Amortization of intangible assets” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 16).
  5. “Other non-cash items” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 33.3).
  6. “Net unrealized foreign exchange gain” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 12.1).
  7. “Net unrealized foreign exchange loss” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 12.2).
  8. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 12.2).
  9. “Finance income” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 12.1).
  10. “Provisions and net movement on employee benefits” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 33.1.6).
  11. “Change in net working capital” is an issuer-specific line, not mapped to a shared definition: Operating adjustment (note 33.1).
  12. “Interest paid” is an issuer-specific line, not mapped to a shared definition: Within financing activities (note 12.4).
  13. “Additions to lease liabilities” is an issuer-specific line, not mapped to a shared definition: Within financing activities (note 27.3).

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)3 16.961 6.222
Profit / (loss) attributable to shareholders (NGN thousands)4 273,120,312 100,145,282
  1. Printed as 1,696 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 622 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Basic earnings per share (Kobo)”.
  2. Profit / (loss) attributable to shareholders: printed as “- Owners”.

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.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid to equity holders of the company (83,760,538) NGN thousands Annual report, p26
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid to equity holders of the company (30,604,812) NGN thousands Annual report, p26

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.

  • Lafarge Africa Plc Annual Report For The Year Ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Ernst & Young (Lagos, Nigeria), unmodified opinion · signed

    Auditor's sign-off: Ernst & Young; Funmi Ogunlowo, FCA

    Final status: Independent auditor's report to the shareholders of Lafarge Africa Plc (PDF pp17-21): unmodified opinion on the consolidated and separate financial statements (p17); signed for Ernst & Young by Funmi Ogunlowo, FCA (FRC/2013/PRO/ICAN/004/00000000681), Lagos, Nigeria, 25 February 2026 (p21, page image). Statements approved by the board of directors on 24 February 2026 and signed by the Chairman, the Group Managing Director and the Chief Financial Officer (p23, page image).

    Document date
    25 Feb 2026
    Auditor's report
    25 Feb 2026
    Board approval
    24 Feb 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “N'000”)
    • Printed 'Lafarge Africa Plc', 'Company registration number RC 1858' (p3) and 'Lafarge Africa PLC (Lafarge Africa) was incorporated in Nigeria on 24 February 1959 ... formerly known as Lafarge Cement WAPCO Nigeria PLC' (p27); the directory name is 'HBM NIGERIA PLC' (NGX HBMNG, ISIN NGWAPCO00002), the same company renamed.
    • Profit attributable to owners is printed as 100,145,282 for 2024 against profit for the year of 100,145,281 (p22); kept as printed. Cash and cash equivalents at the end of the year in the statement of cash flows (384,974,560; 2024: 235,230,231, note 22.2) differ from the statement of financial position (388,067,308; 2024: 237,858,537, note 22): note 22.2 (p84) defines cash in the statement of cash flows as short-term deposits and cash at bank only, and note 22.1 shows restricted cash (3,205,328; 2024: 2,628,306) held within the balance-sheet line. The two cash checks therefore fail as printed. Interest received is within investing and interest paid within financing activities (p26).
    Technical details
    File
    105 pages, with a text layer
    SHA-256
    cb15b4dd9d0032e09a573d4cfd2ccd9d84899f17be5d429d9208269fd12dc799
    Entity as printed
    Lafarge Africa Plc ("the Company") and its subsidiaries (together "the Group"); RC 1858
    Exchange copy
    retrieved 2026-10-08T18:02:41Z

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) (17 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.

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