Julius Berger Q1 revenue drops 64.6% as rising prices and FX losses hit earnings
Julius Berger Nigeria Plc reported a pre-tax revenue of N5.9 billion for the primary quarter ended March 31, 2025, a pointy 64.68% decline from the N16.7 billion recorded in the identical interval in 2024, as rising prices and forex losses eroded the impression of robust topline progress.
Based on the development large’s unaudited {financial} outcomes, income rose by 62.80% year-on-year to N180.5 billion, pushed largely by the corporate’s core civil engineering initiatives.
Civil works contributed N125.1 billion, whereas constructing works and providers accounted for N30.2 billion and N25.2 billion, respectively.
Nevertheless, the robust income progress was matched by a big enhance in prices. Value of gross sales surged to N153.1 billion, consuming into margins and leaving a gross revenue of N27.4 billion, which nonetheless mirrored a 30.69% enchancment in comparison with N20.9 billion in Q1 2024.
Key Highlights
- Income: N180.5 billion, +62.80% YoY
- Value of Gross sales: N153.1 billion, +70.29% YoY
- Gross Revenue: N27.4 billion, +30.69% YoY
- Administrative Bills: N22.6 billion, +46.42% YoY
- Different Positive factors: N75.2 million, -99.22% YoY
- Working Revenue: N3.1 billion, -76.53% YoY
- Pre-tax Revenue: N5.9 billion, -64.68% YoY
- Retained Earnings: N62.6 billion, +6.21% YoY
Julius Berger’s backside line was weighed down by a mix of upper working bills and a reversal in international change positions.
Administrative bills jumped by 46.42% to N22.6 billion, reflecting inflationary stress and price escalations in mission execution.
Moreover, the corporate recorded a web international change lack of N1.8 billion, a stark distinction to the N9.4 billion FX achieve recorded in the identical quarter of 2024.
This reversal considerably impacted the corporate’s different earnings line. ‘Different good points’ plummeted from N9.6 billion in Q1 2024 to only N75.2 million in Q1 2025.
Consequently, working revenue dropped by 76.53% to N3.1 billion, down from N13.2 billion within the corresponding interval final 12 months. Funding earnings additionally declined by 17.52% to N3.7 billion, in comparison with N4.5 billion in Q1 2024.
Regardless of the earnings dip, Julius Berger’s steadiness sheet remained resilient. Whole belongings rose to N1.05 trillion, up 37.31% year-on-year, whereas retained earnings elevated by 6.21% to N62.6 billion, reflecting underlying {financial} stability and retained worth for shareholders.
Julius Berger’s Q1 outcomes replicate the broader challenges going through Nigeria’s infrastructure and building sector, the place rising enter prices, forex volatility, and mission delays proceed to exert stress on profitability regardless of top-line progress.
As of the buying and selling day ended thirtieth April 2025, shares of the corporate have been priced at N137.00, reflecting a YtD lack of 11.76%.
