- BUA Meals Plc earned N1.53 trillion in income and N266 billion in revenue after tax in 2024.
- Its largest moneymaker is the Flour division, adopted by Sugar, Pasta, and a fast-growing Rice phase.
- BUA Meals operates in important meals markets with secure demand, giving it a defensive edge throughout financial volatility.
BUA Meals Plc has quietly develop into one in all Nigeria’s most worthwhile client items firms.
The Lagos-based meals big operates throughout a number of important meals segments sugar, flour, pasta, rice, and provides each industrial customers and households nationwide.
The corporate was formally established in 2021 after the merger of 5 BUA Group subsidiaries and was listed on the Nigerian Change (NGX) in January 2022.
In simply three years as a public firm, BUA Meals has developed right into a N1.5 trillion-revenue machine and a key participant in Nigeria’s meals safety drive.
Dominating staples
BUA Meals earns practically all its income from the processing and sale of on a regular basis staples consumed throughout the nation. Its operations are grouped into 4 important divisions — Flour, Sugar, Pasta, and Others (which incorporates rice, edible oils and packaged meals).
The Flour division has emerged as the corporate’s largest earner. Income from flour and semolina surged to about N233.9 billion in 2024, greater than doubled the N104.3 billion generated in 2023. This progress was pushed by expanded milling capability and better product pricing amid Nigeria’s inflationary setting.
The Sugar division, lengthy thought of BUA’s spine, recorded N735.4 billion in gross sales, virtually doubling the determine from N422.8 billion in 2023, as pricing strain and uncooked sugar import prices weighed on margins.
In the meantime, the Pasta enterprise greater than doubled its turnover to N541.5 billion, due to rising native demand and elevated market share.
The Others phase—protecting rice and edible oils—delivered a breakout efficiency, with income hovering to N16.9 billion from simply N2.10 billion a yr earlier. The sharp rise displays the corporate’s strategic diversification into high-growth packaged meals classes.
The numbers inform the story
For the total yr ended 31 December 2024, BUA Meals reported N1.53 trillion in income, up 109% from N729 billion in 2023. Revenue after tax jumped to N266 billion, greater than double the prior yr’s N112 billion.
The sturdy efficiency continued into 2025. For the six months ended June 2025, unaudited outcomes confirmed income of N912.5 billion and a internet revenue of N260 billion, with earnings per share rising to N14.45 from N7.27 a yr earlier.
There have been no main shifts within the income combine, underscoring constant progress throughout the corporate’s important enterprise strains.
Market energy and rivals
BUA Meals competes head-to-head with Dangote Sugar Refinery, Flour Mills of Nigeria, and Honeywell Flour Mills (now a part of FMN) in Nigeria’s multibillion-naira staples market.
Its scale, vertical integration, and logistics community spanning refineries and vegetation in Lagos, Port Harcourt, Kwara, and Kano give it a price benefit and nationwide attain that few rivals can match.
The corporate advantages from regular, inelastic demand for fundamental meals merchandise, insulating it from the volatility that impacts discretionary items. As Nigeria’s inhabitants continues to develop, the long-term demand outlook for BUA’s merchandise stays sturdy.
The place the money flows
BUA Meals’ 2024 money circulation assertion exhibits that operations generated N504.8 billion in internet money, reflecting sturdy underlying profitability.
About N31.5 billion was reinvested in new vegetation and tools — significantly within the Flour and Pasta divisions, whereas N624.2 billion went towards dividends and debt servicing.
The corporate declared a N13 per share dividend for 2024, up from N5.50 in 2023, rewarding traders as earnings soared.
Within the first half of 2025, the corporate generated a money circulation of N145 billion from working actions, out of which it spent N57.7 billion on investing and one other N82.3 billion on repaying loans and curiosity repayments.
How the cash it makes is shared
The 2024 value-added assertion reveals how BUA Meals allocates its earnings:
- Suppliers of funds (finance prices): N203 billion
- Authorities (taxes): N18 billion
- Workers (wages and advantages): N6.17 billion
- Reinvestment and depreciation: N9.3 billion
- Retained revenue: N263 billion
In impact, greater than half of the corporate’s worth created was retained for shareholders, whereas substantial sums have been reinvested to assist future growth.
BUA Meals’ enterprise mannequin is constructed on scale and integration — controlling your complete worth chain from uncooked materials sourcing to last distribution. Its merchandise attain shoppers by an in depth community of distributors, wholesalers, and retail companions throughout Nigeria.
The corporate’s diversification into rice and edible oils, alongside continued investments in sugar and flour manufacturing, positions it as one of the balanced gamers within the African meals business.
With a 2024 market capitalization of about N7.4 trillion and a dominant home footprint, BUA Meals continues to strengthen its function as a core pillar in Nigeria’s quest for meals self-sufficiency.
Lastly, BUA Meals Plc makes cash by feeding Nigeria, actually. Its built-in operations throughout sugar, flour, pasta, rice, and oils generate constant revenues and strong earnings.
Flour and sugar stay the core engines, whereas pasta and oils are the fast-growing frontiers.
Amid financial volatility, BUA Meals’ give attention to necessities ensures demand resilience and regular money technology.
The corporate’s speedy rise from a restructuring in 2021 to a trillion-naira-revenue group in 2024 highlights a easy fact in Nigeria’s meals market, few firms are as well-positioned, or as worthwhile, as BUA Meals.
Be First to Comment