Five industrial goods companies on the Nigerian Exchange with assets above N20 billion reported a combined N9.31 trillion asset base in FY 2025, up from N9.1 trillion in 2024, while their average return on assets nearly doubled from 10.4% to 20.3%, underscoring stronger profitability from existing capacity.
Dangote Cement Plc led with N6.04 trillion in assets (64.7% of sector assets) despite a 5.7% dip from 2024, lifting ROA from 7.86% to 16.80% on 109% pre-tax profit growth to N1.53 trillion and 20% revenue rise to N4.31 trillion, driven by N2.9 trillion domestic cement and clinker sales and lower finance costs.
BUA Cement followed with N1.85 trillion in assets (up 18.2%), ROA jumping from 4.7% to 19.2%, and pre-tax profit soaring 367% to N465.2 billion on 34.56% revenue growth to N1.17 trillion mainly from bagged cement, giving it 19.9% of sector assets.
Lafarge Africa ranked third at N1.20 trillion in assets (up 21.9%), with non-current assets of N648.5 billion and ROA rising to 22.61% as pre-tax profit hit N411.3 billion on N1.06 trillion revenue, 97.19% from cement, while its stock gained over 70% year-to-date to N3.6 trillion market cap.
Beta Glass posted N184.3 billion in assets (up 37.2%), ROA up to 18.15%, and 155% pre-tax profit jump to N50.65 billion on strong local bottle and glassware sales, with current assets of N115.1 billion dominated by N72.3 billion receivables and a 34%+ year-to-date share price rise to N229 billion valuation.
Chemical and Allied Products (CAP) rounded out the list with N24.7 billion in assets (up 25.5%), ROA improving to 24.7%, pre-tax profit up 50.51% to N9.1 billion, and revenue up 23.36% to N44.8 billion almost entirely from paint, while its stock advanced over 43% year-to-date to N80.6 billion market cap.
Collectively, these five firms hold 99.7% of the NGX Industrial Goods Index’s N9.34 trillion assets, with N5.9 trillion in non-current and N3.3 trillion in current assets, signaling deep capital investment and efficient asset use driving sector earnings.
