Bamburi Cement : Annual Report & Financial Statements 2022

YEARS OF

COMMITMENT TO

ENVIRONMENTAL

SUSTAINABILITY

2022 BAMBURI ANNUAL REPORT

• FINANCIAL STATEMENTS

TABLE OF CONTENTS

BAMBURI CEMENT | ANNUAL REPORT 1

WHO WE ARE	2
About Bamburi Cement Group	4
Our Brands	6
About Holcim	8

2022 OVERVIEW	10
Group - Key Financial Highlights	12
Value Added Statement	13
Chairman's Statement	14
Group Managing Director's Statement	18
Board of Directors	22
Executive Committee Members	26

BUSINESS OVERVIEW	34
Operational Review	36
Health and Safety	55
Our People, Culture and Systems	61
Risk and Control	69

SUSTAINABILITY REVIEW	70
Our Sustainability Framework	54
Nature and Water	55
Circular Economy	56
People and Communities	57
Climate Energy	58

GOVERNANCE	61
Corporate Governance Statement	62
Director's Remuneration Report	71
Shareholder Profile	75

FINANCIAL REVIEW	78
Corporate Information	80
Statement of Directors' Responsibilities	81
Independent Auditors' Report	82
Consolidated Statement of Profit or Loss
and Other Comprehensive Income	85
Company Statement of Profit or Loss
and Other Comprehensive Income	86
Consolidated Statement of Financial Position	87
Company Statement of Financial Position	88
Consolidated Statement of Changes in Equity	89
Company Statement of Changes in Equity	90
Consolidated Statement of Cash Flows	91
Company Statement of Cash Flows	94
Notes to the Financial Statements	95

2

WHO WE ARE

Bamburi Cement is an Industry captain and member of the Holcim Group.

As a leading clinker, cement and concrete producer in Eastern Africa, Bamburi Cement is at the forefront of innovative and sustainable building solutions.

VISION

To be the undisputed leader and the preferred partner providing innovative high quality solutions for nation building.

BAMBURI CEMENT | ANNUAL REPORT 3

Sunset Terrace at Bamburi Forest Trails

OUR

STRATEGY Our Building for Growth Vision is based on 4 Pillars:

GROWTH	PERFORMANCE	PEOPLE	SUSTAINABILITY
Profitable green growth	Be quality cash cost	Become an agile,	Be the most respected
ahead of market	company in the country	lean, performance	company by all
	through innovation &	focused organization by	stakeholders by creating
	operational excellence	empowering our people	shared value with them

4	BAMBURI CEMENT | ANNUAL REPORT	5

4 SUBSIDIARIES

Hima Cement

Limited

A Uganda based subsidiary of Bamburi Cement PLC with 3 plants iin Kasese, Namanve and Tororo.

Bamburi Special Products Limited

The leading supplier of Readymix concrete and Precast concrete blocks with operations in Nairobi and Mombasa.

Lafarge Eco Systems Limited

The environmental arm of Bamburi Cement whose operations are in sustainable land use and quarry rehabilitation.

Diani Estates Limited

Diani's principal activity is management of land reserves on behalf of its parent company, Bamburi Cement.

White-faced whistling ducks in Nguuni Nature

Sanctuary at Bamburi Shale quarry.

OUR PLANTS

The Company operates 5 cement plants from where it serves.

Kenya and Uganda markets as well other export markets.

Operate 2 Plants in Kenya		Operate 3 Plants in Uganda
•	Integrated Plant (Clinkering and Cement) in Mombasa		• Integrated Plant (Clinkering and Cement) in
•	Grinding Plant (Cement) in Athi River			Kasese, Western Uganda
			•	Grinding Plant (Cement) in Tororo
			•	Blending Station in Namanve

6

OUR BRANDS

BAMBURI CEMENT | ANNUAL REPORT 7

Water buck at Bamburi Forest Trails.