WorldStage– BUA Cement Plc sustained its highly leveraged operations in 2025 with no significant change in its volume of debt financing that stood at N1.2 trillion in 2025 and 2024.
According to its 2025 audited financial statement released Friday, BUA total assets rose 19 percent to N1.9 trillion in 2025, from N1.6 trillion in 2024.
Over 60 percent of the assets in 2025 belongs to creditors. The company owners’ stake, about 35 percent of the asset, however, jumped 73 percent to N673 billion compared to about N389 billion in the year before.
The management is making the best of the situation, though, considering its widening profit margin. BUA’s profit after tax rose about 400 percent to N356 billion in 2025—from N73 billion a year before.
For a capital-intensive industry BUA operates in, debt-asset ratio of 0.6 passes for ‘fair’ rating, according to analysts. More so if the company is expanding its profit to meet interest payment obligations.
The risk, however, heightens when inflation rate rises along with interest rates, and assets depreciate.
BUA’s Board of Directors have proposed, for shareholders’ approval, the declaration of ₦10.00k dividend per one ordinary share.
“Dividends approved at the Annual General Meeting will be subject to deduction of withholding tax at the applicable statutory rate at the time of payment,” Hauwa Satomi, company secretary ,said in her note to directors .
