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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)

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2012 2013 2014 2015 2016 2017E 2018F

Cameroon Congo Ethiopia Ghana Nigeria

Senegal Sierra Leone South Africa Tanzania Zambia

Ce

me

nt

con

sum

pti

on

(M

t)

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₦ ₦

₦B

₦ ₦ ₦

₦ ₦

₦₦ ₦

₦₦ ₦

₦ 19,780

₦ 23,743

₦ 25,738

₦ 28,192

₦ 37,817

₦ 40,412

₦ 45,070 ₦ 44,960 ₦ 44,023₦ 43,816

₦ 12,060

₦ 14,674 ₦ 13,729

₦ 12,407₦ 24,859

₦ 26,175

₦ 29,630₦ 28,972

₦ 29,176 ₦ 29,059

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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)

61.8% 53.3%44.0%

65.7%

64.8%

61.0%

65.7%

64.4%

66.3%

66.3%

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Cameroon Congo Ethiopia

Ghana Senegal Sierra Leone

South Africa Tanzania Zambia

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1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Manufactured Imported

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