How Shareholders Of Dangote Cement, BUA, Lafarge Lost N365.6bn In Seven Days

Nigeria’s biggest cement makers have lost N365.6bn in their overall wealth due to the plunge in their stock prices.

As the local bourse closed on a bearish note on Friday, All-Share Index and market capitalisation fell 2.09 per cent to close at 49,664.07 and N26.78trn between August 4 to 12 August 2022.

The Nigerian Exchange Ltd has three Cement makers listed on it namely Dangote Cement, BUA Cement and Lafarge WAPCO.

Analysis by THE WHISTLER showed that Dangote Cement, the country’s largest manufacturer of cement witnessed huge stock losses as share price dipped N6.2 to N258.8 per share on August 12 from N265 on August 4.

The Group’s shareholders lost N6 .2 or an equivalent of N105.65bn last week.

Dangote outstanding share is 17,040,507,405.00, as the market capitalisation stands at N4.4trn.

In the last six months, the Cement maker successfully posted a revenue of N808.03bn as against N690.5bn in first six months of 2021, while profit grew to N172.1bn, down from the N191bn posted in the corresponding period of 2021.

BUA Cement, the second largest manufacturer by market capitalisation lost N5.3 as shares fell from N58.25 to N52.95 between August 4 to August 12, 2022.

BUA shareholders lost N179.48bn within the period. The company is the second largest with market capitalisation of N1.79trn.

Based on BUA six months performance, a total of N188.56bn was realised as revenue, while N61.3bn was its profit during the period, compared to N43.3bn raised in the corresponding period of 2021.

Lafarge WAPCO saw its wealth dropped by N80.53bn in the one week period between August 4 to 12, 2022.

The Group’s share price plunged from N25.45 on April 4 to N24.95 held at the close of trade on April 12 .

With N401.88bn market capitalisation, Lafarge is the third largest Cement manufacturer on the local bourse.

Over the last six months, the company has seen its revenue surge to N186.58bn. Its profit also rose to N37.4bn, up from N28bn in 2021.

The manufacturers have a combined production capacity of 70.6 million tonnes per annum.

Dangote has nearly 48.6 million tonnes per annum acrross Africa, while BUA has a capacity of 11.5 million tonnes per annum.

It is expected that the company’s production will rise to 17 million tonnes per annum by 2023.

Lafarge currently has an installed capacity of 10.5 million tonnes per annum.