LafargeHolcim Bangladesh saw a drop in sales and profits in 2024 amid the political changeover and a challenging macroeconomic environment.

In 2024, the net sales of the cement producer stood at Tk 2,754 crore, a 3 percent decrease from the previous year.

Net profit stood at Tk 381 crore, a 36 percent decrease from the previous year. This brought the earnings per share (EPS) down to Tk 3.29 from Tk 5.12 in 2023.

Based on the profit drop, the board of directors of LafargeHolcim, a leading listed multinational cement producer, announced a 38 percent cash dividend, including a 19 percent interim cash dividend.

In the previous year, it provided a 50 percent cash dividend to its shareholders.

The company said its new business involving aggregates and special products played a positive role in its overall performance.

"Bangladesh experienced an eventful year in 2024, yet the company successfully navigated the challenges," said Iqbal Chowdhury, CEO of the company.

It has progressed in its innovative and unique channel expansion through direct-to-retail and net retail outlets.

The contribution of special products also increased to 8 percent of total revenue, he said, adding that operating profit from the new business involving aggregates grew by 25 percent.

Through its global platform Geocycle, the company said it had co-processed more than 45,000 tonnes of diverse waste streams, which substituted more than 10 percent of fossil fuels to accelerate its green growth agenda.

"Looking ahead, we are prioritising the expansion of sales channels, further advancing digitalisation throughout our operations, focusing more on the aggregates business, and expanding sustainable waste co-processing through our Geocycle division," said Chowdhury.

He hopes to deliver strong results in the future with a steadfast commitment to operational excellence, cost optimisation, and innovation.

Regarding its outlook, the company said, "Looking ahead to 2025 and beyond, the company is actively seeking to broaden its reach and access to new markets."

"Furthermore, increasing interest in special and innovative new products from customers is leading us to focus sharply on these two areas," it said.

"LafargeHolcim Bangladesh PLC remains well poised to continue delivering strong financial results with industry-leading margins in 2025 and beyond," it added.

Stocks of LafargeHolcim dropped 0.20 percent to Tk 48.90 at the Dhaka Stock Exchange yesterday.