- Operating Profit before Interest and taxes (EBIT) reached to 2,432 Million Taka, a significant increase of 90% despite challenging market conditions.
- Net Sales Growth of 37% backed by new products and innovative solutions.
Mr. Iqbal Chowdhury, CEO of the company said:
“The first quarter’s performance demonstrates the strength of our diverse product portfolio and strategic presence driven by innovative products, high-value solutions, digital footprint and new channels. We are also supporting our customers with sustainable waste management solution through Geocycle. I wholeheartedly thank all employees of LafargeHolcim Bangladesh along with our valued channel partners and stakeholders for this strong start to the year. In the given market context, we shall continue to focus on expansion of channels, aggregates business, new products and solutions in the market and at the same time enhance our digital footprint in Bangladesh to ensure sustainable growth.”
Operating EBIT reached mBDT 2,432 a growth of 90% over last year. Net sales increased by 37% to 8,546 mBDT compared to 6,259 mBDT in 2022. Earnings per Share (EPS) increased by 102% to BDT 1.64 compared to BDT 0.81 in 2022.
Geocycle continued to offer a long-term solutions to country’s waste management challenges. More than ~8,000 tons of diverse waste streams were safely disposed of during this period that clearly accelerated the green growth agenda of the company. Our journey for cost leadership remained as a focal point during the quarter and had a very positive impact on the overall result.
The rest of 2023 will be challenging as geopolitical uncertainty and inflationary pressure continues. Despite that we are optimistic and well poised to deliver strong performance, as we demonstrated in the previous quarters.
About LafargeHolcim Bangladesh:
LafargeHolcim Bangladesh Ltd. (LHBL) is a frontline cement producer in Bangladesh. Operating for almost two decades, it has invested ~ US$ 500 million in building one fully integrated cement plant and three grinding plants, the largest foreign direct investment in the sector. It is a joint venture of Holcim Group based in Switzerland and Cementos Molins based in Spain. With state-of-the art technology and well groomed staff, the company produces world class cement to meet the growing demand generated by massive infrastructure development programs and improved socio economic conditions. The company has provided direct and indirect employment opportunities for over 3000 people.
With its grip on global standards and strength in innovations, LafargeHolcim Bangladesh Limited is also regarded as a dependable solution provider in construction materials. It is producing and supplying customized cement for high profile projects in the country.