JULIUS BERGER BEATS THE ODDS, ANNOUNCES EXCEPTIONAL FINANCIAL RESULTS FOR 2021
. GROWS REVENUE BY 40%, BOARD RECOMMENDS DIVIDEND OF N2.50K PER 50K SHARE
Despite numerous challenges in the last financial year, with due regard to the ongoing FX scarcity and current global supply chain constraints, both consequences of the COVID-19 pandemic and the ongoing Russia-Ukraine conflict, Julius Berger Nigeria Plc, Nigeria’s engineering construction industry leader, continues to perform brilliantly and has achieved exceptional financial performance in the year ended December 31, 2021.
The favourable result includes and evidences vast improvements in terms of revenue accruals, cash flow stability and positive result for shareholders.
The ever-reliable construction company recently announced the results of its consolidated audited financial statements for the year stating that the Group’s revenue grew from N241.8 billion in 2020 to N338.8 billion in 2021, representing an increase of 40%.
“The rise in revenue underlines the strong position of Julius Berger Nigeria Plc within the construction industry and its ability to execute its projects at an excellent pace and to the satisfaction of its clients,” the company said.
As a further boost to the top-line growth, the Group increased its Profit Before Taxation from N3.9 billion in 2020 to N14.2 billion in 2021 while the Profit After Taxation rose from N1.2 billion to N8.3 billion in the year under review.
Following the commendable financial result and positive cash status for the year ended December 31, 2021, the company’s Board of Directors recommend a dividend of N2.50K per 50K share, resulting in a total gross dividend pay-out of N4 billion.
Highlights of the results show that Julius Berger Nigeria’s revenue grew by 40% to N338.81 billion with Operating Profit rising by 81% to 22.67 billion. Also Earnings Before Interests and Taxes, EBIT margin improved by 154 bps while Finance Cost grew by 14% relative to Revenue Growth (40%) just as the company’s Net cash position improved by 168% to N41.42 billion. The net favourable effect is that, it can be noted that 2021 was a successful business year, and the company was able to return to its 2019 growth path despite the difficulties of the year 2020 given the disruptions occasioned by the COVID-19 pandemic
Deriving from Julius Berger’s impressively successful financial year 2021 results, analysts across the market spectrum are positively upbeat and unanimous in opinion that the Julius Berger Group is well prepared for any new or potential headwinds that may result from a combination of both ongoing supply-chain impediments arising from the COVID-19 pandemic, and multiplier effects of the Russia-Ukraine conflict.
Julius Berger Nigeria Plc is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria. Since its pioneer project in 1965, Julius Berger has played a pivotal role in the development of Nigeria’s industrial and civil infrastructure. The company specialises in executing complex works requiring the highest level of technical expertise and Nigeria-specific knowhow.
FEDERAL GOVERNMENT APPLAUD JULIUS BERGER AS FINANCE MINISTER WATCH ENGINEERING CONSTRUCTION LEADER CAST AND CONNECT LAST SPAN TO COMPLETE CONSTRUCTION OF SOLID 2ND RIVER NIGER BRIDGE
- “Julius Berger has brought some very unique innovations in the construction of this Project and I want to on behalf of the Government and people of Nigeria applaud the skills of the construction workers that have been working on this site…and through the project, the Federal Government has been able to create about 20,000 jobs at the construction site.”
– Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
The Federal Government last Saturday in Onitsha once again applauded the nation’s infrastructure construction leader, Julius Berger Nigeria Plc, for the company’s uncommon and productive commitment to successful projection implementation as well as for its engineering genius, which the government called ‘excellent’.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who was visiting the 2nd River Niger Bridge project to see the extent the works had progressed also witnessed the history-making final concrete casting that connected the last span of the bridge to technically complete the construction of the bridge by Julius Berger.
Mrs. Zainab Ahmed also hailed the Nigerian Sovereign Investment Authority, (NSIA) over its work on the second Niger Bridge. Other senior government officials on the honourable Minister’s entourage to the project site included the Chairman, Board of Directors of the Nigerian Sovereign Investment Authority, Mr. Farouk Gumel, and the NSIA Managing Director, Uche Orji. The Deputy Governor of Anambra state, Gilbert Onyekachukwu Ibezim, also joined in inspecting the Project. The Minister’s visit is the second in approximately three weeks, coming after President Muhammadu Buhari, represented by his Chief of Staff, Professor Ibrahim Gambari, also conducted an inspection visit to the project works. The Project, which is under construction by Julius Berger Nigeria Plc, is being administratively oversighted by the NSIA with funding from the Presidential Infrastructure Development Fund (PIDF).
Speaking shortly with the media after the inspection, the Minister described the second Niger Bridge as a very significant project for the Federal Government, because of the geo-integrative and huge developmental impact, which the project would have on the socio-economic lives of Nigerians. She expressed satisfaction with the timely pace and premium quality of the job done by Julius Berger under the committed administrative oversight of the NSIA.
In the words of the honourable Minister, “Today is a very significant day in the construction circle of the Second Niger Bridge. This is one of the most iconic Projects in the Country … the significance of today is that the two ends of the Bridge are being put together, and this is the final phase of the work in truly completing the project and finishing the work. Technically, I can report to Mr. President that I have seen where all the billions have gone. This is a Project that is very dear to the President and it is designed to uplift the lives and livelihood of people of the South-East and other parts of the Country.”
The minister further said, “We hope that when this Project comes on stream, it will ease traffic, enhance commercial activities and improve the lives of the people.
Commending Julius Berger for its operational gender sensitivity, the honourable Minister said, “I am also happy to see the ladies I am seeing working on the construction site; it’s not all men. Julius Berger has brought some very unique innovations in the construction of this Project and I want to on behalf of the Government and people of Nigeria applaud the skills of the construction workers that have been working on this site.” Ahmed said that through the Project, the Federal Government has been able to create about 20,000 jobs at the construction site.
Turning to the Julius Berger project director for the 2nd River Niger Bridge, the honourable Minister said, “Wieser, congratulations for an excellent job done on this project by you and your workers. You have justified our investment in this project. Well done. We shall visit you again, soon, when we shall escort the President, Muhammadu Buhari to commission this significant bridge.”
Commenting on the Project, also, the Chairman of the Nigerian Sovereign Investment Authority (NSIA), Mr. Farouk Gumel, also expressed satisfaction with the implementation of the project. Gumel said, “…the (NSIA) Board is pleased with the quality and pace of work. Undoubtedly, the 2nd Niger Bridge is a vital piece of national infrastructure. At completion, we expect that it will serve as an enabler to cross-regional economic activities and stimulate growth on a national scale.”
In his remarks at the event, the NSIA Managing Director, Mr. Uche Orji, said, “…the Presidential Infrastructure Development Fund (PIDF) is a special fund set up by President Muhammadu Buhari, and is managed by the NSIA. The NSIA brought some of its own capital and the capital provided by FG.” Other projects funded by the PIDF include the ongoing Abuja-Kaduna-Kano Road (AKR) and the Lagos-Shagamu Expressway (LSE) projects.
The Managing Director of Julius Berger Nigeria Plc, Engr. Dr Lars Richter, who was unavoidably out of jurisdiction, was strongly represented at the honourable Minister’s visit by a delegation led by the company’s executive director, corporate development, Mr Tobias Meletschus. Other senior company officials on the team included the CEO of Julius Berger International in Germany, Dr Pierre Lubasch, Abuja Regional Manager, Engr. Oliver Berger, the 2nd River Niger Bridge project director, Engr. Friedrich Wieser, Senior Management Staff, Dr Abdulazeez Kaita, the Head of Media Relations, Prince Moses Duku and the Head of Corporate Communications, James Agama, amongst others.
JULIUS BERGER INCREASES CSR PROJECTS, BUILDS WATER BOREHOLES AND TOILETS FOR SCHOOLS AT ABUJA-KANO ROAD PROJECT CORRIDOR
In continuation of its determination to touch the lives of communities and strong commitment’s to its Corporate Social Responsibility in its operational sites, Julius Berger Nigeria Plc has again donated boreholes and toilets to schools on its Abuja-Kano Road Project corridor.
At Government Girls Secondary School, Yadakwari, the excitement that enveloped the entire school made up of over 800 students caught up with the teachers and community leaders who also sang praises of Julius Berger Nigeria Plc “for its very healthy sense of Corporate Social Responsibility by which it gives back to benefit its host communities.”
After a brief introduction by the Leader of Julius Berger CSR team at the event, Engr. Yusuf Ibrahim, the Principal of the school, Wasila Shuaibu, who appreciated the gesture stated: “We are very pleased with the outstanding contributions made by Julius Berger. We now have borehole and toilets in our school premises. To others, it might be a small one, but to us here at Government Girl’s Secondary School, it is a very big move made by the company. On behalf of the Management and students, we say a very big thank you to the construction giant for finally putting smiles on our faces.”
The Village Head of Yadakwari, Mohammed Daniya Ibrahim, who was also present at the event said, “Good water has been one major problem of the Community and I’m extremely grateful to Julius Berger Nigeria Plc for extending its effort to provide us with good water that will not just benefit the school, but the Community at large. Now, we can comfortably have good water to take home to our children and families.”
At the Government Junior Secondary School Co-exist, Tariwa, Kano State, it was also commendation galore for Julius Berger’s CSR efforts even as students and National Youth Corp Members danced and sang praises to Julius Berger, displaying appreciation placards.
The Head Teacher of the school, Mallam Iliyasu Ibrahim, was effusively full with thanks and prayers for Julius Berger. “…on behalf of the Staff, Parents and the Pupils of Government Junior Secondary School, Tariwa, I say thank you for what you have done for us, and we pray that God in His infinite mercies bless you richly. The company shall grow higher and God’s favour will not elude you.” An excited Corp member, Mr. James Dantata, said, “we really love the work done here by Julius Berger, the company has a way of doing its Corporate Social Responsibility often and taken it to the rural areas as well. Thank you for bringing quality water to us here. We will also like to extend our sincere gratitude to the Management of Julius Berger, please accept our sincere appreciation and thank you for your kind CSR gesture.”
The Representative of the Village Head of Tariwa, Ado Lawal, who was also present at the event said, “The Village Head extends his gratitude to the management of Julius Berger Nigeria Plc for the newly constructed borehole and toilets. Words won’t be able to show how happy we feel. I pray God rewards the company and continuously bless the works of their hands. Once again, Thank You.”
The Julius Berger delegation to the event was led by the AKR Project Coordinator, Engr. Yusuf Ibrahim. Other JBN Officials included, Content Writer, Corporate Communications, Michael Ashofor; and Press Relations Officer, Olivia Uzoma.
