Redwood Consulting, a solution-driven marketing firm and member of The Republicom Group, held the maiden edition of Winning the Channels Series tagged Power of Consumer Data to stimulate and promote the importance of making data-driven decisions to achieve set business objectives.
The breakfast session, which held at the Civic Centre, Lagos, on 29 January 2020 had in attendance about two hundred Industry leaders and managers in marketing and sales across sectors.
In her opening remarks, Hannah Oyebanjo, Managing Director, Redwood Consulting, and host of Winning the Channels Series, disclosed the idea behind the series was to stir up the industry by shedding more light on the role consumers play in meeting organizational goals such as market share, margins etc.
She added that the series which is an avenue to discuss pressing issues across retail, sales and distribution channels is first of its kind in Nigeria and will continue to lead the conversation in order to help brands and companies achieve proper growth and not paper growth.
In his keynote address, Dr. Doyin Salami, Chairman, Economic Advisory Council, stated that most companies don’t use data in decision making. He also noted that appreciating the need for data collection will enhance investments in gathering useable data, capacity to use such data and the ability to generate actionable insights which will help in making the right business decisions to achieve set goals.
Dr. Salami, further disclosed that, every in-road to gathering consumer data must have specific target either brand or corporate specifics. As the challenges in Nigeria have been around non-availability, incompleteness, invalidity, timeliness and apathy towards use of data.
He added that for a firm or brand to win the competitive war, they must have clear understanding of the evolution trends, that is, know where your consumers earn from, how they spend, because whoever is paying for a good or services knows what is valuable for them.
Also, on the agenda was a panel discussion which was moderated by Adewale Arikawe, CDSM Director, FrieslandCampina. Participating in the robust discussion were panelists: Chandana Fernando, Commercial Manager at Nestle Nigeria; Ifeoma Dozie, Director Marketing and Communications Sub-Saharan Africa MasterCard; Olubayo Adekanmbi, Chief Transformation Officer, MTN Nigeria, and Olayinka Ijabiyi, Head, Brand, Product and Stakeholder Management, all of whom contributed immensely to the discussion on Evolution of Data, Need for Data and Revolutionizing Data.
During the panel discussion, Olubayo Adekanmbi, Chief Transformation Officer, MTN said, “There’s what I’ll call nano segmentation where every single customer is unique so, having contextual behaviour at different times. So, different behaviour, same person. Apart from traditional segmentation, there are other segmentations, such as technographic segmentation which is how you behave in relation to technology at different times. Thus, it is important for us as a business, in fact, every business to use data to understand its customer’s behaviour.”
In his remarks, Olayinka Ijabiyi, Head, Brand, Product and Stakeholder Marketing, First Bank also stated that data helps businesses know the customer and understand the needs of the customer and then help develop products that will meet these needs. A win-win for everyone.
Founded in 2010, Redwood Consulting Ltd. has remained an Insight-led marketing solutions company, providing Marketing advisory, Communication Management services and Capacity Development to businesses across sectors. With over 70years of cumulative experience across key leads, the company has worked for businesses across sectors and at different levels.
BUA Cement Plc posts impressive unaudited H1, 2020 financial results
Revenue increase by 12.7% to N101.3 billion; Profit After Tax (PAT) rises by 13.74% to N34.82 billion.
One of Africa’s largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenues of N101.3billion and a Profit After Tax of N34.82billion representing an increase of 12.7% and 13.74% respectively from the corresponding period in 2019. This was contained in a filing to the Nigerian Stock Exchange.
Speaking on the results, Yusuf Binji, Managing Director of BUA Cement said that the continued impressive performance in 2020 despite the challenging operating environment occasioned by the COVID-19 pandemic, was a pointer to the value and strength of the BUA Cement brand and product offerings as well as a nod to the excellent implementation of the company’s Business Continuity Plan which ensured that BUA Cement was able to withstand the impact of the pandemic in the period under review.
“Our resilient performance continues to showcase the value and strength in our product offering alongside our strategic business model. Our revenues increased by 12.7% to N101.3 billion from the corresponding period in 2019 whilst Operating profits increased by 7.0%, from N38.1 billion in H1’2019 to N40.8 billion in H1’2020. Equally, EBITDA margin improved in this quarter to 48.1% – an improvement from 45.6% in Q1, 2020.”
“In a bid to further drive cost efficiencies and sustainability, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) at the Kalambaina, Sokoto State and the management of our mining operations. Given these deliberate and strategic choices amongst other cost management efforts, we continue to combine development and innovation into our offerings and activities,” Binji added.
On the impact of the pandemic on the business, Binji noted that, “despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused distribution strategy.”
It should be noted that BUA Cement has also been actively involved in alleviating the impact of the virus on the most vulnerable in society while also supporting the government’s efforts by providing foodstuff, PPEs and medical equipment to host communities amongst others.
- Revenue increases by 12.7% from N9 billion in H1’2019 to N101.3 billion, as at H1’2020
- EBITDA increases by 5.8% from N8 billion in H1’2019 to N47.4 billion, as at H1’2020 (Quarter-on Quarter (q/q), EBITDA margin increases from 45.6% in Q1’2020 to 48.1%, as at Q2’2020)
- Operating profit up 7.0%, from N1 billion in H1’2019 to N40.8 billion in H1’2020
- Profit before Tax (PBT) increases by 9.8% from N7 billion, as at H1’2019 to N39.2 billion, as at H1’2020.
- Profit after Tax (PAT) up by 13.7%, from N61 billion in H1’2019 to N34.8 billion, as at H1’2020,
- Earnings Per Share (EPS) increases by 14.4% from N90 kobo in H1’2019 to N1.03 Kobo, as at H1’2020
- Cement volume dispatched up 7.9% from 2,282 kt in H1’2019 to 2,463 kt, as at H1’2020; underpinned by growing market acceptance, our COVID business continuity plan and particularly, a business environment not inundated by the Coronavirus pandemic
- To boost energy efficiency and reduce energy costs, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) for the Kalambaina operations and management of our mining operations
- Continued push to ‘new markets’ aided by a focused distribution strategy
Conference call details
BUA Cement Plc will hold a conference call for analysts and investors on 06 August 2020 at 14:00hrs Lagos (09:00hrs New York, 14:00hrs London, 15:00hrs Johannesburg). To pre-register, please click on this Registration link to receive the dial-in details, which includes the passcode.
A copy of the presentation will be made available before the call and can also be downloaded from the Company’s website at http://www.buacement.com/presentations/
About BUA Cement Plc
BUA Cement Plc is Nigeria’s second-largest cement company and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 8 mmtpa and with plans underway to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant by the first half of 2021 in Sokoto State, Nigeria. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.
BUA Cement Plc is the third most capitalised company on the floor of the Nigerian Stock Exchange.
BUA Cement is committed to quality – a differentiating attribute, driven by its people, innovation and technology; and positioned to solving Nigeria and Africa’s challenges while driving economic growth and development.
More information can be found at www.buacement.com
Zenith Bank rewards customers with massive giveaways in the “Zenith Beta Life” weekly promo
The Promo is open to existing and new Zenith Bank customers.
Zenith Bank Plc, Nigeria’s leading financial institution, has commenced its “Zenith Beta Life” Promo to reward customers of the Bank with gifts every week starting from 31st July 2020 to 30th July 2021.
During this period, fifty (50) customers will be selected via raffle draw each week and rewarded with gifts worth NGN30,000.
The Promo is open to existing and new Zenith Bank customers with the following raffle qualifying criteria:
- maintain a minimum deposit of NGN5,000 for the period;
- request and collect a Zenith Bank Card; and
- download and register on the Zenith Mobile App or register for *966# EazyBanking.
Zenith Bank Plc is recognised as one of the most customer-focused financial institutions in the country and was voted the most customer-focused bank in Nigeria for the retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).
A clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions, Zenith Bank has clearly distinguished itself in the Nigerian financial services industry through superior service quality, unique customer experience and sound financial indices.
In recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto and Co. The Bank was also recognised as Bank of the Year and Best in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards.
More recently, the Bank emerged as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the Banker Magazine “Top 500 Banking Brands 2020”, number one Bank in Nigeria by Tier-1 Capital in the “2020 Top 1000 World Banks” Ranking published by The Banker Magazine, Best Bank in Nigeria 2020 in the Global Finance World’s Best Banks Awards 2020, and Bank of the Decade (People’s Choice) at the ThisDay Awards 2020.
Corporate Finance and Business Valuation redefined by Coronation Capital
Professor Aswath Damodaran took his time to provide practical guidance on the entire valuation process.
The word ‘valuation’ has been mistaken by several experts and audiences around the world as the process of pricing an asset. While some believe it is an opportunity for bargaining or negotiation between parties involved, lessons from the just concluded 2nd edition of the Coronation Capital Masterclass, which was tagged Corporate Finance and Business Valuation, suggests otherwise and the expert trainer provided a simplified process for carrying out company valuation.
The facilitator of the Masterclass, Professor Aswath Damodaran of New York University Sterns Business School took his time to provide practical guidance on the entire valuation process to the participants. According to him, “Valuation is not a science or an art, it is a craft that provides a bridge between values and numbers. Valuing an asset is not the same as pricing that asset. Valuation is driven by Cash-flows from existing assets, the growth in those cash flows and quality of the growth (which represents the risk in the process).
The Second edition of the Coronation Capital Masterclass which discussed “Corporate Finance and Business Valuation” with Professor Aswath Damodaran of the New York University Sterns Business School, unlike the first edition was hosted virtually due to the impact of the novel coronavirus on the globe which includes sustained travel restrictions.
Giving his opening remarks the Chairman of Coronation Capital Mr. Aigboje Aig-Imoukhuede said the masterclass was an attestation to the value placed by the Coronation Capital and its ecosystem on valuation of assets and its culture of continuous learning and development. He described himself as a student of Professor Aswath Damodaran and believed it was a privilege to learn from the scholar.
Here are 10 key takeaways from the NYU Finance Professor’s classes during the Coronation Capital Masterclass session.
- Valuation Is not a Science or Art, but a Craft
- Valuing an Asset is not the same as Pricing an Asset
- A Good Valuation is the expression of a Possible, Plausible and Probable story in numbers
- When developing stories from numbers, ensure to connect all drivers of value to valuation and keep the feedback loop open
- All Valuations are biased. The only question is how much and in which direction is the bias
- There is no precise valuation and “You don’t have to be right to make money, you just have to be less wrong than everybody else”
- As companies get larger, it gets more difficult to sustain value-adding growth
- The payoff to Valuation is greatest when it is least precise
- Simpler valuation models do much better than complex ones
- Always question but respect markets. The market is always right
“Valuation is a process that needs to developed, through understanding what the #company does, and ensuring the story is possible, probable, and plausible, it should not sound too abstract”. – @AswathDamodaran
Every Valuation starts with a narrative. In developing that narrative, the critical assessment of the following is crucial in providing a strong base of understanding about the business.
- The company (products, management & history)
- Present and future competition
- Macro environment in which it operates.