Chilanga Cement Reports Strong 2024 Performance, Pays Over K453 Million in Taxes
Chilanga Cement Plc, a subsidiary of Huaxin Group, has reported a strong financial performance for the year ended December 31, 2024, showcasing resilience despite economic challenges.
The company successfully navigated increased competition, an El Niño-induced drought, and load shedding, while expanding its market presence both locally and internationally.
Chilanga Cement recorded a 34% increase in sales revenue, reaching K2,720 million, up from K2,030 million in 2023. Profit before tax also rose by 16%, climbing to K743 million, compared to K640 million the previous year.
Recognizing this growth, the company paid an interim dividend of K1.5 per share in 2024, while the Board of Directors proposed a final dividend of K2 per share, bringing the total dividend payout to K3.5 per share, up from K2.5 per share in 2023.
During the Annual General Meeting (AGM) held at InterContinental Hotel, Board Chairman Mr. Muna Hantuba praised shareholders for their continued trust and commended management for its ability to sustain growth despite external economic pressures.
“2024 was full of surprises—a fluctuating national economy, drought, and power shortages. Yet, Chilanga Cement remained strong, demonstrating resilience in the face of adversity,” he said.
Chief Executive Officer Mr. Chai Jianping reaffirmed the company’s commitment to delivering shareholder value and driving continuous improvement. “Through hard work and careful planning, we remain resolute in 2025 and will continue to improve across all areas,” he stated.
Adding to the company’s strategic direction, Chief Financial Officer Mr. Ezron Lesa highlighted Chilanga Cement’s commitment to investment and diversification beyond cement.
He announced the upcoming launch of dry mortar and a waste shredder under the Eco Unit, reinforcing the company’s focus on sustainability, innovation, and long-term growth.
Shareholders applauded Chilanga Cement’s continued efforts to enhance operational efficiency, financial performance, and diversification into new sectors such as lime and dry mortar production.
The company remains committed to innovation, quality, and sustainability, ensuring sustained growth and value creation for investors while maintaining its leadership in the cement industry.
