Lafarge Africa Q3 revenue up 21.9%

Lafarge Africa, a leading construction company, recently reported a remarkable growth of 21.9% in its net sales for the nine months of 2021, accompanied by a substantial 43.3% increase in net income. Khaled El Dokani, the Country CEO of Lafarge Africa, attributes this impressive performance to a combination of factors driving both the top and bottom lines of the company. The key drivers behind this growth include a significant improvement in volumes, pricing strategies, cost reduction initiatives, and enhanced asset utilization. El Dokani emphasized that pricing in the market is determined by the dynamics of supply and demand, with the company benefiting from the current market trends and inflation rates. Looking ahead to the fourth quarter and beyond, Lafarge Africa expects to see a surge in demand driven by government-led infrastructure projects, housing initiatives, urbanization efforts, and investments in roads throughout Nigeria. One of the critical strategies employed by Lafarge Africa to optimize costs is the adoption of alternative fuels and technologies to reduce energy consumption and lower CO2 emissions. The company plans to invest heavily in alternative fuel techniques, aiming to substitute a portion of coal and gas with more sustainable options, aligning with its commitment to environmental responsibility. As part of a global construction group, Lafarge Africa continually focuses on product innovation and sustainable practices. The company is investing in research and development to introduce more green products, minimize its carbon footprint, and promote gender diversity within the industry. Moreover, El Dokani highlighted the positive outlook on Nigeria's economy, emphasizing the vast potential for growth in infrastructure and housing sectors. Despite the challenges posed by factors such as inflation, forex fluctuations, and post-COVID business environment uncertainties, Lafarge Africa remains resilient and optimistic about the future. With a long-standing presence in Nigeria spanning six decades, the company leverages its experience and strategic positioning to navigate these hurdles. El Dokani stresses the importance of focusing on the country's fundamentals rather than short-term challenges, believing in Nigeria's ability to recover gradually and sustain its position as a key player in the region. Looking ahead, Lafarge Africa plans to maintain its market share through efficient utilization of its capacities, strategic positioning within the industry, and a commitment to continuous improvement. The company aims to capitalize on growth opportunities, drive innovation, and reinforce its leadership position in Nigeria's construction sector.