HBM Nigeria Revenue Hits N928bn in 9 Months On Volume Growth

HBM Nigeria Plc, has recorded a 19 per cent growth in revenue to N928 billion in the nine months ended September 30, 2026, driven by volume growth, operational stability and improved distribution efficiency.

The cement maker disclosed this in its nine months 2026 unaudited results. According to the results, operating profit grew by 28 per cent to N383 billion during the period, supported by healthy top-line growth and efficiency gains across the business, while operating margin rose to 41 per cent from 38 per cent in 2025. Profit after tax closed at N272 billion, representing 31 per cent growth compared to last year.

The GMD/CEO of HBM Nigeria, Lolu Alade-Akinyemi, said the performance confirms the company remains on track to deliver its full-year objectives.

“Net Sales grew 19 per cent year-on-year to N928 billion, Operating profit rose 28 per cent to N383 billion, and profit after tax increased 31 per cent to N272 billion. This performance reflects sustained volume growth, improved distribution efficiency, and disciplined cost management,” he said.

He explained that third-quarter performance was moderated by planned extensive maintenance at existing plants to correct output restrictions and unlock capacity, resulting in Q3 net sales of N250 billion and PAT of N64 billion, a decline of five per cent and 15 per cent respectively compared to Q3 2025.

Alade-Akinyemi said the maintenance work will strengthen reliability and utilization of existing assets, positioning the company to capture stronger demand in Q4.

He added that expansion projects at Sagamu, Ogun State (3.5MTPA) and Ashaka, Gombe State (2MTPA) are at an advanced stage and expected to be delivered in Q1 2027, while engineering design has commenced for a third production line – a 3-million-ton integrated facility in Calabar.