Chairman, Julius Berger Nigeria Plc, Mr Mutiu Sunmonu
Julius Berger Nigeria Plc is currently transiting into a conglomerate. This was stated by the Managing Director of the company, Engr. Dr. Lars Richter, at the
Group Investors Forum held recently via zoom with stakeholders and shareholders satisfied with the growth trajectory of the leading engineering construction company.
While providing participants at the forum with an update on Julius Berger’s business performance, strategy and operations in the 2023, as well as speaking to the outlook for the business of the company, the Managing Director, Engr Dr Lars Richter confidently said: “The company is transiting to a conglomerate by continually driving growth across our core businesses and our subsidiaries, through which we deliver value-added services along the entire value chain of the construction industry.”
According to Richter, “…our core business, which is our first pillar, continues to achieve stable growth and upholds our standards as Nigeria’s leading and most innovative construction company. We continue to drive economic growth and expansion in the country through our infrastructure projects, as well as development of industries through our building arm.”
On the transnational expansion of the company’s business operations, the Managing Director said that “…We are expanding our value delivery to other regions of the continent, and we will continue to maintain our performance standards and drive innovation in the construction industry,” adding that, “the projects in our core business significantly contribute to economic growth and expansion, creating more efficient routes that drive trade and commerce and foster industry development.”
Stressing that Julius Berger’s over 50 years of operation has consolidated with it a reputation for renowned quality delivery in the country and beyond, creating value for its stakeholders, the Managing Director declared that the company’s strategy has been resilient, expanding its portfolio over the decades.
Continuing, the Managing Director assured all of management’s determination to ensure positive transition of the company to “a conglomerate.” Giving an insight into the company’s planned transition into a conglomerate, Richter further revealed: “…at the heart of our conglomerate transition is our diversification pillar, which we successfully kick-started in 2020 through the cashew processing business. We expect to reap significant benefits from our diversification efforts in the medium to long-term. We have achieved notable success so far, including exporting processed cashews to the international market…. We are also looking at other sectors like healthcare, where we can create added value.”
Managing Director, Julius Berger Nigeria Plc, Engr. Dr. Lars Richter
On the Bodo-Bonny Road project and the Second River Niger Bridge, according to the MD, the company continues to make progress in constructing the first road link between Bonny Island and the mainland in River State even as he added that construction continues at a good pace on the milestone project and looks forward to the completion of the project to support the continued advancement of Bonny Island and the Niger Delta in its entirety.
On the recently completed and commissioned Second River Niger Bridge, the Managing Director described it as a key national infrastructure with immense socioeconomic benefits for the contiguous states and indeed the entire nation just as he said the Abuja Kano Road where sections thereof were recently commissioned, only the Abuja to Kaduna section is yet to be completed because of banditry on that section of the busy highway all through last year.
Speaking on the financial highlights of the company within the period to provide additional information to participants at the Forum, Director of Finance, Christian Hausemann said due to management’s rigorous cost management, gross profit, operating profit, and pre-tax margins have improved compared to 2022, despite the local and global inflation environment.
Representatives of Julius Berger at the Investors Forum were: Managing Director, Lars Richter, Director, Administration, Zubairu Bayi, Director Corporate Development, Tobias Meletschus, Company Secretary, Mrs Cecilia Mahueke, Finance Manager, Miss Joy Isen and Chief Risk Officer, Mrs Shakira Mustapha, with shareholders, including Oluwatosin Kalejaiye and Dele Akande actively participating.
