• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Updates

FMN demonstrates good credit rating in the Debt Capital Market

NM Partners by NM Partners
July 10, 2023
in Corporate Updates
FMN demonstrates good credit rating in the Debt Capital Market (DCM)
Share on FacebookShare on TwitterShare on Linkedin

RelatedStories

commercial paper

Nigerian companies raise N162.51 billion from commercial papers in September

September 29, 2022
Commercial paper issuance

Nigerian companies raise N215 billion from Commercial Papers in August 2022

September 2, 2022

• Flour Mills of Nigeria (FMN) remains one of the largest consumer conglomerates in Nigeria. With operational capability in flour milling, sugar refinery, palm oil production, and packaging materials, the company controls significant market share across its business divisions.
• Flour Mills of Nigeria is an active player in the Debt Capital Market accessing funds to support their working capital needs as well as other short-term expenditures and has a strong reputation for timely repayment at maturity.
• The FMN rating of “A- “by Augusto & Co and “A” by DataPro shows its strong financial position, extensive distribution network, and dominant market share in the Nigerian food industry.
• FMN’s revenue in 2022 achieved over a trillion (N1,114 trillion) revenue demonstrating sustained momentum across all business segments compared to the previous year (N825 billion), joining a select group of Nigerian companies with such a feat. In the past three years, sales have increased at an average rate of 30% owing to impressive demand for the company’s product, its superior product, and its strong ability to determine sales prices. The 9M ’23 results show remarkable revenue growth because of continued focus on retail expansion and proactive pricing to cushion steep input costs.
• We expect FMN to improve in profitability over the coming year.
The acquisition of Honeywell naturally caused a temporary increase in the debt, which is foreseen to be reduced over the next year. Currently, the company’s debt portfolio is dominated by long-term debt (about 60% of total debt). Also, the company has significant liquidity and is highly solvent. As of Q3’22 (end-Dec), the company had an interest coverage ratio of 1.5x as well as a debt-to-capital ratio of 60%.
• Dividend payments in the last decade have been stable and consistently growing. In 2022, the company dividends payment grew 30% y/y to NGN8.82bn.


Why Should I Invest in Flour Mills of Nigeria Ltd?

1. FMN has consistently adopted the Debt Capital Market tools to deleverage the Balance Sheet and enhance company earnings.
2. FMN PLC has invested more than N150 billion over the past ten years to execute its core business strategy to aid the agricultural sector. This signifies that FMN is a key player in the Nigerian agricultural sector and has been a major contributor to ensuring that the agricultural production targets of Nigeria are met.
3. FMN has a good credit history and rating, hence access to bank financing.
4. Flour Mills Strategies to maintain its leadership position in the Market FMN has “A- “by Augusto &Co and “A” by DataPro which reflects their financial position.
5. Strong and loyal customer base.
6. Highly experienced and competent Board and Management Team.
7. Strong supply chain.
8. Plant Capacity utilization level of 70% which is above the industry average of 50%.
9. Strong company pedigree and heritage
10. FMN has Strong brand value and visibility via widely accepted brands i.e. Golden Penny brand of products.
11. FMN is an active player in performing Corporate Social Responsibility duties, for example in ensuring that there is a reduction in carbon footprint which is vital in ensuring that climate goals are met. This is an indication that FMN PLC is committed to a safer future for future generations.


Follow us for Breaking News and Market Intelligence.
Tags: DCMFMN
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

commercial paper
Corporate deals

Nigerian companies raise N162.51 billion from commercial papers in September

September 29, 2022
Commercial paper issuance
Corporate deals

Nigerian companies raise N215 billion from Commercial Papers in August 2022

September 2, 2022
HFMP & FMN transaction: A case study in mergers and acquisitions
Business News

HFMP & FMN transaction: A case study in mergers and acquisitions

June 10, 2022
Next Post
FDIs , telecoms

Capital inflow into telecoms declines by 87% in Q1 2023 

Comments 1

  1. Cryptogobblin03 says:
    July 10, 2023 at 6:17 pm

    This is great, I think it’s a good one for the FMN in my humble opinion.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 
  • GTCO CEO Segun Agbaje: Banks had ample notice on forbearance loans – CBN’s action no surprise
  • Hollywood’s “Jurassic World: Rebirth” debuts N52.5 million in Nigerian cinemas

Follow us on social media:

Recent News

Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 

Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 

July 12, 2025
Top 5 highest paid bank CEOs of 2022 

GTCO CEO Segun Agbaje: Banks had ample notice on forbearance loans – CBN’s action no surprise

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics