Julius Berger Nigeria Plc achieved a major financial breakthrough in 2024, as its total assets surpassed the N1 trillion mark for the first time in the company’s history, signalling robust growth and operational resilience.
The feat was announced at the company’s inaugural strategic forum under the leadership of Dr. Peer Lubasch, who became Managing Director in October 2024. He was joined by Christian Hausemann, the Executive Director of Finance.
Lubasch described 2024 as a landmark year in which Julius Berger delivered record revenue and profit, while expanding its footprint and strengthening its balance sheet.
“Group revenue grew by 27.8% to N567.7 billion, driven by intensified project execution and higher contributions from our subsidiaries,” Lubasch stated.
“Profit before tax rose by 34.1% to N29.6 billion, supported by cost efficiency measures, exchange rate hedging, and solid investment returns.”
Total assets rose by 48.9% to N1.023 trillion, a milestone that reinforces the company’s growing scale and financial soundness. This expansion enabled the company to deliver its highest-ever dividend of N3.25 per share, translating to a total payout of N5.2 billion to shareholders.
Reflecting these gains, credit rating agency Agusto & Co. upgraded Julius Berger’s rating from A- to A (Stable Outlook), citing its strong governance practices and solid financial fundamentals.
The company also reported that 44.63% of its shares are now held by a broad mix of institutional, pension, and retail investors, underscoring its diversified ownership base.
In line with its strategy of expanding beyond Nigeria’s borders, Julius Berger secured a second international contract in the Republic of Benin, deepening its West African footprint.
On the technology and sustainability front, the company made significant strides with investments in solar power deployment, real-time digital fuel monitoring, and a full migration to the SAP S/4HANA ERP system, enhancing efficiency and sustainability reporting.
“2024 was a challenging year economically, with inflation, forex volatility, and rising input costs,” Lubasch said. “Yet, Julius Berger remained resilient, adapted quickly, and delivered its best financial results to date.”
Lubasch highlighted the role of the company’s subsidiaries in broadening technical capacity and diversifying revenue sources. Julius Berger International GmbH, based in Germany, was instrumental in securing European clients and providing foreign exchange inflows.
Environmental, social, and governance (ESG) initiatives remained a key focus, with the company committing N555 million to projects in education, healthcare, rural infrastructure, and reforestation. Efforts to reduce diesel reliance and adopt clean energy solutions are ongoing across multiple operational sites.
Lubasch said the company is also working towards publishing its first ISSB-compliant sustainability report by 2027, showing a clear commitment to transparency and long-term ESG goals.
In his remarks, Finance Director Christian Hausemann pointed to the company’s low-debt profile and N162 billion in cash reserves as evidence of its sound financial management and capacity for future investments.
“Our performance in 2024 shows that Julius Berger remains a top-tier investment destination,” Hausemann noted.
“With stable cash flows, historic earnings, and a strategic outlook focused on diversification and sustainability, we are well-positioned for the future.”
With over 750 completed projects in Nigeria and more than six decades of experience, Julius Berger remains a dominant player in the country’s engineering and construction sector—trusted for its quality, innovation, and long-term value delivery.
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