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Bamburi Cement HY15 PAT soars 86%
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Pesa Nane
#1 Posted : Thursday, August 27, 2015 6:22:13 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Applause Applause Applause

Pesa Nane plans to be shilingi when he grows up.
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hisah
#2 Posted : Thursday, August 27, 2015 6:25:17 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Nice. Unlike ARM I can see they managed to dodge the forex bazooka!

@aguy, nice pick here.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Pesa Nane
#3 Posted : Thursday, August 27, 2015 6:34:14 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
BUY!

Quote:
Group Turnover increased to Ksh. 19.3Bn
- Improved market conditions in KE and UG
- Growth in infrastructure and contractor segments
- Strong inland Africa export market

Operating profits increased to Ksh. 4Bn
- Growth in sales
- Better external cost environment
- Positive impact of the progressive cost initiatives and process improvement

Large foreign exchange gains on dollar denominated liquid assets

Continued sound management of working capital generated strong cashflows from operations of Ksh.4.1Bn, after tax payments

Group successfully completed a voluntary early retirement scheme at Lafarge Ecosystems Limited as part of changing the subsidiary's strategic reorientation.

Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#4 Posted : Thursday, August 27, 2015 6:36:31 PM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
BUY!

Quote:
The Board of Directors recommends payment of an interim dividend of Ksh. 6.00 per ordinary share


Payment 30 October 2015
Register closes 25 September 2015
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#5 Posted : Thursday, August 27, 2015 6:41:40 PM
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Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#6 Posted : Thursday, August 27, 2015 6:58:32 PM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
Lovely.

Quote:
2015 Outlook:

The outlook for the rest of 2015 is stable with projected and continued positive growth in all regional East Africa economies underpinned by a robust construction industry.....
The group, having benefitted tremendously from prior cost and process management will continue with such initiatives. Furthermore, we will also strengthen our activities to exceed our customer expectations through innovations.....these together with strong brands, marketing efforts and better external cost environment should leverage the group in these markets.

The group shall also continue with its sound working capital management practices to generate cash. In addition, we will leverage the strength that comes with being part of the world's leader in building materials, LafargeHolcim, and look at all options to continue being the highest performing company in the building materials industry in E.Africa
Pesa Nane plans to be shilingi when he grows up.
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Chaka
#7 Posted : Thursday, August 27, 2015 7:38:05 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Forgive my ignorance,
1.Where are the staff costs in that income statement?
2.Who nominates the shareholder rep. to the board(I hope he does not nominate himself)?Is that nomination subject to ratification at the AGM?
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Aguytrying
#8 Posted : Thursday, August 27, 2015 8:28:11 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
hisah wrote:
Nice. Unlike ARM I can see they managed to dodge the forex bazooka!

@aguy, nice pick here.


Amazing. ARM has tricky debt structures/convertibles. and heavy debt.
Bamburi is actually reclaiming its former profitability, eroded by 2 yr consistent decline.

This year my laggards are performing well.
KK +70% PAT
BAMB +86% PAT

the bear will make the discount sweeter, i now understand why it has hardly moved during this bear, same as KK
The investor's chief problem - and even his worst enemy - is likely to be himself
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alotoftalk
#9 Posted : Thursday, August 27, 2015 8:49:58 PM
Rank: Member


Joined: 8/27/2015
Posts: 138
Location: Harare
Great set of results, this is a solid blue-chip. Effect of SGR on revenue?

Even though yet again the FS is too condensed to make much sense out of the numbers except for the management discussion and analysis. CMA or NSE need to provide minimum guidelines on disclosures for public companies.

They got their financing right in a period of expensive capital unlike ARM which is saddled with both forex and local CCY debt. It's a good time to hold large dollar cash balances; you can ask Bamburi.

Looking ahead, what will be the Dangote effect in the EAC market and other African inland exports from EAC?

Dangote's production (~20mm MT) in Nigeria in now equal to the country's consumption (~20mm MT) in a market with other formidable players (WAPCO, Ashaka etc), so they can only expand outside Nigeria.

Case 1: http://www.bloomberg.com...city-to-80-million-tons

Case 2: http://www.bloomberg.com...st-man-takes-on-lafarge


I saw a quote by a Nigerian that Dangote Cement has led to cement price decreases in all the countries they have set up except their homebase of Nigeria where they are dominant and "protected".

Tanzania comes online next year, and I predict they will slash prices to gain market share from EAC competitors (Bamburi, ARM etc) while funding expansion using their cash-cow which is a protected market (Nigeria).
Investment philosophy development in progress...
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Angelica _ann
#10 Posted : Thursday, August 27, 2015 8:56:09 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,909
At least something to cheer about. Greet set of results.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Boris Boyka
#11 Posted : Thursday, August 27, 2015 10:20:38 PM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,977
Location: Here
Above my expectations and a 6/-.....This bus am not alighting soon..Drool Bamburi will make me Richer.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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sparkly
#12 Posted : Thursday, August 27, 2015 10:37:22 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Zero debt, 4% interim DY, fwd annualised PE 10. This is a real blue chip. for keeps like a good wife.
Life is short. Live passionately.
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Boris Boyka
#13 Posted : Thursday, August 27, 2015 10:37:50 PM
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Angelica _ann wrote:
At least something to cheer about. Greet set of results.

Drool Am taking roll call. Boris...Angelica....Aguy...Pesa nane...As lomg kenyans are doing construction and SGR is ongoing...Bamburi is king...Mucha as other cements are gaining fame...Bamburi remains favourite for external constructions and major projects.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Aguytrying
#14 Posted : Friday, August 28, 2015 8:35:05 AM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
Boris Boyka wrote:
Angelica _ann wrote:
At least something to cheer about. Greet set of results.

Drool Am taking roll call. Boris...Angelica....Aguy...Pesa nane...As lomg kenyans are doing construction and SGR is ongoing...Bamburi is king...Mucha as other cements are gaining fame...Bamburi remains favourite for external constructions and major projects.


I think it's emerging as a dividend stock at NSE joining big brother BAT
The investor's chief problem - and even his worst enemy - is likely to be himself
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heri
#15 Posted : Friday, August 28, 2015 8:52:40 AM
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Joined: 9/14/2011
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Location: nairobi
A Chinese firm has signed a deal worth $1.487 billion with Nigeria-based cement giant Dangote Group to build cement plants in several African countries including Kenya.

Mr Dangote told reporters on Wednesday at the signing ceremony in Lagos work on the plants would be completed within 30 months

http://www.businessdaily...12/-/pjilo1/-/index.html
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Aguytrying
#16 Posted : Friday, August 28, 2015 8:55:26 AM
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Joined: 7/11/2010
Posts: 5,040
[quote=heri]A Chinese firm has signed a deal worth $1.487 billion with Nigeria-based cement giant Dangote Group to build cement plants in several African countries including Kenya.

Mr Dangote told reporters on Wednesday at the signing ceremony in Lagos work on the plants would be completed within 30 months

http://www.businessdaily...2/-/pjilo1/-/index.html[/quote]

I hope Bamburi directors have been taking notes on how to deal with competition from EABL (Vs castle, keroche) Laughing out loudly
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ericsson
#17 Posted : Friday, August 28, 2015 9:04:48 AM
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Joined: 12/4/2009
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Location: NAIROBI
Dangote has no plans of establishing a cement factory in Kenya.
Here its too competitive and the firms deeply entrenched
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Palesa
#18 Posted : Friday, August 28, 2015 9:15:08 AM
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Joined: 7/15/2015
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Location: Nairobi
Ericsson wrote:
Dangote has no plans of establishing a cement factory in Kenya.
Here its too competitive and the firms deeply entrenched




Shame on you Shame on you Shame on you
This has been in the news for a while now.....
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instinct
#19 Posted : Friday, August 28, 2015 9:24:01 AM
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Joined: 8/17/2007
Posts: 294
That dividend yield is no better than safaricom's
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sparkly
#20 Posted : Friday, August 28, 2015 10:15:24 AM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
instinct wrote:
That dividend yield is no better than safaricom's


support your assertion. This is interim.
Life is short. Live passionately.
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