March 21, 2025/Cordros Report In this note, we update our views on BUACEMENT following the release of its 2024FY financial results. The company reported a 90.5% y/y increase in revenue for 2024FY, driven by higher cement prices (+56.8% y/y) and increased sales volumes (+25.7% y/y), resulting in a modest 6.4% […]

March 21, 2025/Cordros Report In this note, we update our outlook and estimates for Lafarge Africa Plc (WAPCO) and present our expectations for 2025E. In 2024FY, WAPCO’s revenue grew by 71.8% y/y, driven by higher pricing (+54.6% y/y) and increased sales volume (+12.0% y/y), leading to a 96.2% y/y rise […]

March 19, 2025/Cordros Report In this report, we update our outlook on Dangote Cement Plc (DANGCEM) and outline our expectations for 2025E. In 2024FY, DANGCEM reported a 62.2% y/y increase in revenue (Cordros estimates: +54.3% y/y) driven by a 59.7% y/y rise in prices and modest volume growth of 1.6% […]