39
₦
₦
₦
₦
₦
•
•
•
•
•
•
•
0
20
40
60
80
100
120
140
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2010 2011 2012 2013 2014 2015 2016E 2017F 2018F
Australasia Central America Central Europe Eastern Europe
Indian Sub-continent Middle East North Africa North America
North Asia South America South Asia Sub-Saharan Africa
Western Europe Sub-Saharan Africa (RH scale)
0
10
20
30
40
50
60
70
2012 2013 2014 2015 2016 2017E 2018F
Cameroon Congo Ethiopia Ghana Nigeria
Senegal Sierra Leone South Africa Tanzania Zambia
Ce
me
nt
con
sum
pti
on
(M
t)
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• ₦
•
•
•
₦ ₦
₦B
•
•
₦ ₦ ₦
₦ ₦
•
•
₦₦ ₦
•
₦₦ ₦
•
•
•
•
•
•
₦
₦
₦ 19,780
₦ 23,743
₦ 25,738
₦ 28,192
₦ 37,817
₦ 40,412
₦ 45,070 ₦ 44,960 ₦ 44,023₦ 43,816
₦ 12,060
₦ 14,674 ₦ 13,729
₦ 12,407₦ 24,859
₦ 26,175
₦ 29,630₦ 28,972
₦ 29,176 ₦ 29,059
2,500
3,000
3,500
4,000
4,500
5,000
₦ 0
₦ 5,000
₦ 10,000
₦ 15,000
₦ 20,000
₦ 25,000
₦ 30,000
₦ 35,000
₦ 40,000
₦ 45,000
₦ 50,000
Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
Revenue per tonne EBITDA per tonne* Volume ('000 tonnes)
61.8% 53.3%44.0%
65.7%
64.8%
61.0%
65.7%
•
•
64.4%
66.3%
66.3%
₦
₦
₦
₦
₦
₦
₦
₦
•
• ₦
•
•
₦
₦
Cameroon Congo Ethiopia
Ghana Senegal Sierra Leone
South Africa Tanzania Zambia
•
•
•
•
• ₦
• ₦
•
•
•
•
₦ ₦
₦ ₦
₦ ₦ ₦ ₦ ₦ ₦
₦ ₦ ₦ ₦ ₦ ₦
•
•
•
0
5
10
15
20
25
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Manufactured Imported
