HBM Nigeria PLC 9M 2026 Results: Revenue Up 19%, PAT Up 31%

HBM Nigeria PLC has released its 9M 2026 performance update, disclosing net sales of ₦928 billion, up 19% year-on-year, driven by volume growth and improved distribution efficiency. Operating profit rose 28% to ₦383 billion, lifting the operating margin to 41% from 38% in 9M 2025. Profit after tax grew 31% to ₦272 billion, with earnings per share of ₦16.89 compared to ₦12.90 in the same period last year.

Q3 2026 performance declined relative to Q3 2025, with net sales falling 5% to ₦250 billion and profit after tax dropping 15% to ₦64 billion. The company attributed this to planned annual maintenance at its existing plants, carried out to correct output restrictions and unlock effective capacity.

On the expansion front, the company disclosed that its Sagamu, Ogun State plant (3.5MTPA) and Ashaka, Gombe State plant (2MTPA) are at an advanced stage and expected to be delivered in Q1 2027. Engineering design for a third production line at Calabar, a 3-million-ton integrated cement facility, has commenced, with completion expected within 12 months of construction start.