4,500 140 4,000 120 3,500 100 3,000 80 - PowerPoint PPT Presentation

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4,500 140 4,000 120 3,500 100 3,000 80 2,500 2,000 60 1,500 40 1,000 20 500 0 0 2010 2011 2012 2013 2014 2015 2016E 2017F 2018F Australasia Central America Central Europe Eastern Europe Indian Sub-continent Middle East North Africa North America North Asia South America South Asia Sub-Saharan Africa Western Europe Sub-Saharan Africa (RH scale)

70 60 Cement consumption (Mt) 50 40 30 20 10 0 2012 2013 2014 2015 2016 2017E 2018F Cameroon Congo Ethiopia Ghana Nigeria Senegal Sierra Leone South Africa Tanzania Zambia

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₦ 50,000 5,000 ₦ 45,000 ₦ 43,816 ₦ 40,000 4,500 ₦ 45,070 ₦ 44,960 ₦ 44,023 ₦ 40,412 ₦ 35,000 66.3% ₦ 30,000 4,000 ₦ 37,817 65.7% 66.3% 64.4% 64.8% ₦ 25,000 65.7% ₦ 28,972 ₦ 28,192 ₦ 29,630 ₦ 23,743 ₦ 20,000 ₦ 29,059 3,500 ₦ 29,176 ₦ 25,738 ₦ 15,000 ₦ 19,780 61.8% ₦ 26,175 53.3% 44.0% 61.0% ₦ 10,000 3,000 ₦ 14,674 ₦ 13,729 ₦ 24,859 ₦ 12,060 ₦ 12,407 ₦ 5,000 ₦ 0 2,500 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Revenue per tonne EBITDA per tonne* Volume ('000 tonnes) • •

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Cameroon Congo Ethiopia

Ghana Senegal Sierra Leone

South Africa Tanzania Zambia

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25 Manufactured Imported 20 15 10 5 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017