FY 2021: CIMERWA Plc Sales revenue grew by 6.8% year-on-year to Rwf 67.4 Billion

Financial Performance

Sales revenue grew by 6.8% year-on-year to Rwf 67.4 Billion in spite of the difficult operating environment. This can be attributed to the strong COVID-19 crisis management response by the team to sustain operations, helped by cement demand from large infrastructure projects, effective management of route to market channels, robust actions to grow exports as well as better price management. Our export volumes grew by +37% versus prior year with the proportion of exports in our sales mix rising to 19% (15% in 2020). 

We achieved an operating Profit of Rwf 11.2 Billion (+40% versus prior year) and Profit After Tax was Rwf 4.1 Billion (+111% versus prior year). The excellent improvement in profitability was enabled by the topline growth, improved operational efficiencies and our cost savings program. Improved operational efficiencies and cost savings program helped us to contain cost of sales which saw a marginal growth of only +0.1% in spite of the 6.8% growth in revenues.

The Company closed the year with a healthy cash position of Rwf 14.2 Billion and a much heathier retained earnings position of Rwf 4.2 Billion (Rwf 166 M in 2020).

Source: https://cimerwa.rw/press-releases/