Lafargeholcim Bangladesh PlcDSEBD: LHB

2nd Quarter Report 2025

Jul 23, 2025 at 1:03 PM UTC · Issued by Lafargeholcim Bangladesh Plc

‌INTERIM

FINANCIAL

STATEMENTS

as at and for the period ended 30 June 2025

(Un-audited)

‌LAFARGEHOLCIM BANGLADESH PLC.‌

Consolidated Statement of Financial Position (Un-audited) at 30 June 2025

Assets

NOTES

30 Jun 2025

Taka000

31 Dec 2024

Taka'OOO

Non-current assets

Property, plant and equipment

16,467,149

16,603,659

Intangible assets

1,257,245

1,267,827

Employee benefits - funded plan assets

214,9B2

217,463

Total non-current assets

17,939,376

18,088,949

Current assets

Inventories

3,429,224

3,g41,669

Trade receivables

597,138

503,207

Other current assets

5,231,309

4,378,890

Advance income tax

167,575

63,177

Gash and cash equivalents

8,398,282

9,600,898

Total current assets

17,823,528

18,487,841

Total aosets

35,762,904

36,576,790

Equity & liabilities

Share capital

11,613,735

Retained earnings

6,028,871

5,877,40

Other components of equity

29,444

9,329

Foreign currency translafion

1,287,571

1,091,911

Equity attributable to owners of the Company

)8,592,3T6

Non-controlling interests

(495)

(584)

Total equity

18,959,126

18,591,792

Non-current liabilities

Lease liabilities

86,239

102,137

Deferred tax liabilities

1,622,685

1,772,726

Employee benefits - unfunded plan obligations

165,B18

157,424

Provision

104,899

97,410

Total non-current liabilities

1,979,641

2,129,697

Current liabilities

Trade payables

13,623,407

14,348,355

Other current liabilities

979,689

1,054,208

Lease liabilities

28,351

Short-term borrowings

232,579

Unclaimed dividend

192,690

191,808

Total current liabilities

14,824,137

15,855,301

Total equity and liabilities

35,762,904

36,576,7 90

Net Asset Value (NAV Per Share 12

16.33

16.01

The accompanying Notes 1 to J5 form an integral paH of t/jese interim financial statements.

Director Director Ghief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Consolidated Statement of Profit or Loss (Un-audited) for the period ended 30 June 2025

NOTES

Jan-Run 2025

Taka '000

JanUun 2024

Taka '000

Apr-Jun 2025

Taka '000

Apr•Jun 2024

Taka '000

Seven ue

14,981,103

14,418,696

6,466,115

6,161.272

cost of saies

(10,742,598)

(9,813,803)

(4,741,266)

(4,294,369)

Gross profit

4,238,505

4,604,893

J,724,8d9"

1,866.903

General and administrative expenses

(e76,570)

(333,852)

(366,877)

Sales and marketing expenses

(440,586)

(291,fi94)

{208,032)

(172,704)

Other operafing income/(expenses)

25,570

29,082

7,436

22,925

Operating profit

3,4G5,811

1,190,401

1,350,247

(4 28,434)

(4 J4,700)

Finance income 111,434

94,079

47,12fi

49,832

Profit before tax Income tax

2,950,60g

3,14€,19 I

(714,703)

1,210,506

(Z43,179)

1,044,871

(241,044)

Profit for the period 2,430,4B7

Earning Per Share
Basic {Taka)	12	2.03	2.09	0.83	0.69
Diluted (Taka)	12	2.03	2.09	0.83	0.69

Me accompanying ^/odes Y fo TS Fonw an inregra/ part oF tfiese interim financial statements

Company Secretary

Chief Financial Officer

Diregor Director Chief Execulive Officer

LAFARGEHOLC1M BANGLADESH PLC.

Consolidated Statement of Comprehensive Income (Un-audited) for the period ended 30 June 2025

Jan•Jun 202a

Taka'000

Jan•Jun 2024

Tak a'O00

Apr-Jun 2025

Taka '000

Apr-Jun 2024

Taka '000

Profi t for the perio d

2,358,080

2,430,487

967,407

803,827

Items that may be rec iassified sub seguentl y to prodI or loss

Cash flow hedge - net of tax

20,11'2

{28,333)

6,656

Exchange differences on translating foreign operation

19'5,660

459,047

159,105

442,034

Non controlling inlerests- currency Translation ad]uslmeni

(70)

(69)

Other compreh ensi ve income for the period

21S,864

166,064

441,965

TofaT comp rehensi ve income for the penod

2,573.944

y,861,931

4,133,471

1,245,792

Profir attributab Ie to.

Owners of Ihe parenl Company

1,133 366

1,245,861

Non-controlling inleres Is

(70)

(69)

2,573, 944

2,861,931

1,133,471

1,2• 5,797

Chief

utive Officer

Direclor Director

LAFARGEHOLCIM BANGLADESH PLC.

Consolidated Statement of Chan ges in Equity (Un-a udited) for the period ended 30 June 2025

( All figures are in Tk. '000)

				Other	Foreig n	Equity for	Non
Share		Retained components			currency	parent	controlling	Total
	capital	earnings		of equity	trans lation	company	interests	equity
Balance at 1 January 2024	11,613,735	10,071,57		(171,405)	712,912	22,226,816	(527)	22,226,289
Total comprehensive income for the period		2,430,487		(28,333)	459 847	2,862,001	(70)	2,861,931
Dividend for 2023		(5,806,868)				(5,806,868)		(5,806,868)
Balance at 30 June 2024	11,613,735	6,695,193		(199,738)	1,172,759	19,281,949	(597)	19,281,352
Balance at 1 January 2025	11,613, 735	5,877,401		9,329	1,091,911	18,592,376	(584)	18,591, 792
Total comprehensive income for the period		2,358, 080		20,115	195, 660	2,573,855	89	2,573,94^
Dividend for 2024		(2,206,610)				(2,206, 610)		(2,206,610)
Balance at 30 June 2025	11,613,735	6,028,871		29,444	1,287,571	18,959,621	(495)	18,959,126
Company Secretary	Chief Financial 0 fficer		Director			Director	Chief Exec	e Officer

LAFARGEHOLCIM BANGLADESH PLC.

Consolidated Statement of Cash Flows (Un-audited) for the period ended 30 June 2025

	Notes	Jan-Jun 2025 Taka'000	Jan-Jun 2024 Taka'000
Cash flows from operating activities
Cash receipts from customers		15,337,282	14,766,924
Cash paid to suppliers and employees		(12,603,559)	(11,151,511)
Cash generated from operations		2,733,723	3,615,413
Income tax paid		(854,788)	(918,997)
Other receipts		23,743	20,223
Net cash generated by operating activities		1,902,678	2,716,639
Cash flows from investing activities
Payments for property, plant and equipment		(782,473)	(452,382)
Payments for intangible assets		(13,007)
Proceeds from sale of property, plant and equipment		1,702	8,859
Interest income on bank deposits		92,777	117,669
Net cash used in investing activities		(701,001)	(325,854)
Cash flows from financing activities
Repayments of the lease liabilities		(15,898)	(17,287)
Repayment of / (Proceeds from) short term borrowings		(232,579)	332,694
Payment of interest and other finance cost		(2,762)	(81,636)
Interest paid on lease liability		(5,833)	(7,178)
Proceed s from Margin accounts with banks		50,839	(301,376)
Dividend payment		(2,205,728)	(5,405,213)
Net cash used in financing activities		(2,411,961)	(5,479,996)
Net effect of foreign currency translation on cash and cash equivalent		7,668	459,847
Net increase/(decrease) in cash and cash equivalents		(1,202,616)	(2,629,364)
Cash and cash equivalents at beginning of the period		9,600,898	9,345,525
Cash and cash equivalents at end of the period		8,398,282	6,716,161
Net Operating Cash Flow Per Share (NOCFPS)		1.64	2.34

Comoany SeCreta

Chief Financial Officer

Director Director Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Notes to the Condensed Consolidated Financial Statements (Un-audited) for the period ended 30 June 2025

General information
LafargeHolcim Bangladesh PLC. (LHB) - (hereinafter referred to as "the Company") was incorporated on 11 November 1997 as a private limited company in Bangladesh under the Companies Act 1994 having its registered office in Ohaka. At the time of incorporation the name of the Company was "Lafarge Surma Cement Limited". On 07 February 2017 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) approved the name change to "LafargeHolcim Bangladesh Limited" of the Company. On 18 August 2024 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) further approved the name change to "LafargeHo!cim Bangladesh PLC." of the Company. The Company has subsequently been converted into a public limited company on 20 January 2003 and went for Initial Public Offering of shares in November 2003 which was fully subscribed and issued. The shares have since been listed and are being traded in Dhaka and Chittagong Stock Exchanges. Presently the Company has two subsidiaries in India. The main objectives of the subsidiaries are to support the holding company. A brief description of each of the subsidiary is given below:
Lum Mawshun Minerals Private Limited (LMMPL) - incorporated under the Indian Companies Act 1956 on
17 November 1994 as a private limited company with its registered office at Shillong in the State of Meghalaya, India.
Lafarge Umiam Mining Private Limited (LUMPL) - incorporated under the Indian Companies Act 1956 on 22 March 1999 as a private limited company with its registered office at Shillong in the State of Meghalaya, India.
Nature of business
The Company operates cement and aggregates manufacturing plants at Chhatak under Sunamganj district, and three (3) grinding plants near Dhaka and Kñulna. the Company extracts and processes the basic raw materials of limestone from the quarry in Meghalaya, ,India, owned by the Company's fully owned subsidiary Lafarge Umiam Mining Private Limited. A 17 kilometres cross-border conveyor belt links the quarry with the cement plant for transportation of raw materials.
The company is engaged in manufacturing and marketing of building materials in the local market and international market.
Basis of preparation

The consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34 /nferim Financial Reporting.

Comparatives

Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in tfie current year.

Principles of consolidation

The accounts of all the subsidiaries of the Company have been fully consolidated as the Company directly controls more than 50% of the voting shares of these entities.

The Company has made following investments in its subsidiaries which have been eliminated during consolidation:

	30 Jun 2025	31 Dec 2024
Name of subsidiary	Taka'000	Taka'000
Lafarge Umiam Mining Private Limited, India	519,356	519,356
Lum Mawshun Minerals Private Limited, !ndia	537	537
	519,893	519,B93

All inter-company balances between the Company and its subsidiaries are eliminated on consolidation

Scope of consolidation

Name of the subsidiary

Lafarge Umiam Mining Private Limited Lum Mawshun Minerals Private Limited

Country of Incorporation India

India

% of ownership interest 100

The same accounting policies, presentation and methods of computation have been followed in these interim financial statements as were applied in the preparation of the Company's financial statements for the year ended 31 December 2024.

Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in the current period.

7 Gas sales agreement with JGTDS

The amount of other current assets includes an advance of Taka 2,969,755 (in thousands) paid to Jalalabad Gas Transmission and Distribution Systems Limited (JGTDS).

The Company had an Arbitration with JGTDS. On 15 September 2023, the Arbitration Tribunal issued the Final Award in favor of the Company. As per the Award, the Ceiling Price is a valid and enforceable provision of the Gas Sales Agreement (GSA). In March 2024, JGTDS filed an Application before the Honorable High Court Division of the Supreme Court of Bangladesh for supply of gas at a rate fixed by the Bangladesh Energy Regulatory Commission (BERC) from September 2015 onwards. The hearing on the Application filed by JGTDS is ongoing before the Honorable Court.

The Primary Term of the GSA is for 20 years from the Gas Delivery Commencement Date, which is due on 17 January 2026. On June 24, 2025, the Company and JGTDS executed two (2) new Gas Sales Agreements (GSAs), one for supply of gas to the Kiln and the other for supply of gas to the Captive Power Plant at the Company's Plant located at Noarai, Chhatak, Sunamganj. The GSAs are effective for a term of ten (10) years from 18 January 2026 with provisions for successive renewals. This will ensure continuous energy security for the Company.

Short-term borrowings

The company availed short term borrowings (Usance payable at sight) facilities from the banks for settlement of payables against import purchases, which have been settled during the current period.

Segment information- Period: January- June

2025

Reportable segments

Taka'000

Clinker and cement

Aggregates

Total

Sfafemenf o/'pro£if or loss

Segment revenue

11,883,676

3,097,427

14,981,103

Operating profit

1,345,432

1,622,176

2,967608

Assets (as at 30 June 2025) Segment assets

26,809,325

387,722

27,197, 047

Unalfocated assets*

565,857

Total assets

35,762,904

Equity and liabilities (as at 30 June 2025)

Segment liabilities

189,870

14,873,813

Unallocated e uit and liabilities"

20,869,091

and liabilities

35 762,904

2024

Reportable segments

Taka'O00	Clinker and cement	Aggregates	Total

Statement ot' profit or loyy
Segment revenue	,7z5,o‹g	2,643, 677	14,418, 696
Operating profit	2,125,494	1,340,317	3,465,811
Assets (as at 31 DeCem ber 2024) Segment assets	27,356,829	304,218	27,661,047
Unallocated assets*			6,731,268
Total assets			34,392,315
Equity and liabilities (as at 31 December 2024)
Segment liabilities	11,748,372	189,802	11,938,174
Unallocated equity and IiabiIities^			22,454,141
Total equity and liabilities			34,392,315

*Advance tax, deri'vatives instruments and cash and cash eguivalents

*" Borrowings, deferred tax liabilities and unc1aimed dividend.

Finance Cost

Finance costs decreased due to reduced exchange loss during the period.

11	A. Income tax	Jan4un 2025 Taka	Jan-Jun 2024 Taka
	Current income tax expenses	750,779	776,884
	Deferred income tax income	(158, 251)	(62,181)
		92 52	1 70
	B. Reconciliation of effective tax rate (%)
	Average statutory tax rate	25.17	24.56
	Permanent differences	3.30	1.34
	Deferred tax Effect of change in tax rate	(5.36)
	Effect of foreign tax differentials	(3.03)	(3.18)
	Effective tax rate	20.08	22.72
]2	A. Earnings Per Share

The computation of basic earnings per share for the periods ended 2025 and 2024 are as follows:

Numerator

Profit for the period

Denominator

(Thousand Taka)

(Thousands of Shares)

Jan-Jun 2025

2,358,080

Jan-Jun 2024

2,430,487

Weighted average number of shares outstanding 1,161,374 1,161,374

Basic Earnings Per Share

Taka

2.03

2.09

Diluted Earnings Per Share

2.03

2.09

‌B. Net operating cash flow per share (NOCFPS)

The computation of net operating casfi flow per share for the periods ended 2025 and 2024 are as follows: Numerator (Thousand Taka)

Net operating cash flow for the period

Denominator (Thousands of Shares)

Weighted average number of shares outstanding

1,902,678

1,161,374

2,716,639

1,161,374

Net operating cash flow per share

C. Net asset value (NAV) per share

Taka

1.64

30 Jun 2025

2.34

31 Dec 2024

The computation of net asset value per share for the periods ended 2025 and 2024 are as follows: Numerator (Thousand Taka)

Net asset value for the period/year Denominator (Thousand Shares)

18,959,621

18,592,376

Weighted average number of shares outstanding

1,161,374

Net asset value per share

16.33

16.01

Net asset value (NAV) per share

16.33

16.01

30Juu2025

31 Dec 2024

43 Comparative Information for the Shareholders

Taka

Net asset value (NAV) per share

16.33

16.01

Jan-Jun 2025

Jan-Jun 2024

Taka

Earnings Per Share (EPS)

2.03

2.of

Net Operating Cash Flow Per Share (NOCFPS)

1.64

2.34

Profit for the period

2,358,080,000

2,430,487,000

For the period January to June 2025, EPS decreased compared to the previous period, mainly due to decreased cement sales. NOCFPS eroded compared to the same period of last year, due to the payments against local and imported purchases.

14 Related Party Transactions

Except for the regular transactions, there were no significant related party transactions during the period.

		Jan-J un 2025 Ta ka'000	J an-Jun 2024 Ta ka'000
15	Reco nciliation of con solidated Net Profit with cas h flows from	ope ratinp activities
	Net profit for the pe -iod	2,358,080	2,470, 48/
	Income tax expenses	592528	7 4,703
	Net profit befo re tax	2,950,608	3,]45,190
	Depreci a tion and amortization	*1 ,441	658,353
	Other non-cash items	20,910	38,728
	No n-a pera ting items	17,000	320, 621
	Income tax paid	(854,788)	(918,997)
	Ch anges in net work in9 capital	(942,493)	(527,256)
	Cas h flows from ope ratin g activities	1,902,678	2,716,639

Direclor Director Chief Executive Officer

‌LAFARGEHOLCIM BANGLADESH PLC.

Statement of financial position (Un-audited) at 30 June 2025

NOTES	30 Jun 2025 Taka'000	31 Dec 2024 Taka'000
Assets
Non-current assets
Property, olant and equipment	14,504,562	14,725,775
Intangible assets	326,169	327,450
Investment in subsidiaries	519,893	519,893
Employee benefits - Funded Plan assets	214,982	217,464
Total non-current assets	15,565,606	15,790,582
Current assets
Inventories	3,278,941	3,786,536
Trade receivables	597,138	503, 207
Other current assets 5	4,168, 087	3,607,547
Advance income tax	157,399	180,921
Cash and cash equivalents	6,194,419	8,117,607
Total current assets	14,395,984	16,195,818
TotaI assets	29,961,590	31,986,400
Equity & liabilities
Equity
Share capital	11,613,735	11,613,735
Retained earnings	1,463,946	2,242,288
Other component of equity	27,805	14,093
Total equity	13,105,486	13,870,116
Non-current liabilities
Lease liabilities	86,239	102,137
Deferred tax liabilities	1,478,377	1,530,742
Employee benefits - Unfunded Plan obligations	129,753	122,217
Total non-current liabilities	1,694,369	1,755,096
Current liabilities
Trade payables	14,037,923	14,916,249
Other current liabilities	902,771	992,201
Lease liabilities	28,351	28,351
Short-term borrowings 6		232,579
Unclaimed dividend	192,690	191,808
Total current liabilities	15,161,735	16,361,188
Total equity and liabilities	29,961,590	31,986,400
Net Asset Value (NAV) Per Share 10	11.28	11.94

The accompanying Notes 1 to 13 form an integral part of these interim financial statements

Company Secretary Chief Financial Officer Director Director CA ief Executive Officer

LAFA R GEHOL CjM BA5jGLADES H PLC.

Statement of profit or loss (Un-audited) for tile period ended 30 June 2025

NOTES

J an -J un 2025 Ta k n '000

J an -J u n 2024

Ta k a '000

A p r-J un 702'i

Taka '0 0 0

A p r-J un 2024

Taka '00 0

Rev en u e

14, 418, G G

6,4G 6,115

6/6 2?2

Cos I of s al es

t 14 , 8 66, 04 6)

(4 0 73 2 819)

(5, 90 296)

(4,725, 06?)

G ros s p ro fit

5,115.057

275,819

1, 436,210

G eneral a n d ad min is lra live expenses

(885, 88 4 )

(B76,57 0)

(404 ,794)

(366, 876)

Sales and marketing expenses

(4 1 0 , 586)

(29 4 .594)

(208 032)

(4I2704)

0th er o pera ting incorr1e/(expense s)

26.12J

28.8 2

8 043

22.9?0

0 p eratin g profit

1,844,7 11

2,546,525 674,036

919,550

F +nan ce cos1

(I 13 983)

(422 981 )

(?8T24)

Qfl9S4)

Fln ance in cO me

104, 272

93,473

4‹.J?Z

J9.480

P ro fit befo re tax

1,8 85,00 0

2,217,017 690, 084

61 2,776

lncom e tax

{406, 732)

(43 2 1 17)

(157,342)

(4 07. 4 06)

P ro fit for the period

1,428,268

4 ,784, 900

532.742

605,670

la rn ifl gs Per Sfia re

8 as Ic (Ta ka}

1 54

0 46

Diiu ted (+a ka)

1 54

0 46

Compan y Secretary

G h +ef F +n a netat Ottiee r

Director

C fi +ef Executive 0 ttice r

LAFARGEHOLCIM BANGLADESH PLC.

Statement of Comprehensive Income (Un-audited) for the period ended 30 June 2025

Jan -Jvn 202d

Ta ka '000

Jan-Jun 2024 Ap r-Jun 2025

Taka ' 000 Tag a '000

Apry un 2024

Taka '000

Profit for the period 1,784,90 0 532,742

Item s th at may be rec lassIfi ed subs equen tly to profi t a r los s C ash flow hed ge instruments

Income lax on ilems lhal may be reclas sified to profii or loss

7,140

(3.428)

36,308

(3,428)

8,645

64,479

Other c am prehensive loss far the period

13,712

5,217

57,21 7

Tota Tcomprehensive income for the period

1,441,980

Director

M7,959

Chief Exeoutiy e Officer

LAFARGE HOLCIM BANGLADESH PLC.

Statement of Changes in Equity (Un-audited) for the period ended 30 June 2025

(All figures are in Tk;. '000)

	Sfia re cap ita1	Retained earnings	Other component of equity	Total equity
Balance at 1 J an ua ry 2024	11, 613,735	6,533,418	(171,175)	17,975,978
Totel comprehensive in come fo r the period Dividend flo r 2023		1,784,900 (5, 806,868 j	29, 0^6	1, 813,9^6 (5,806,868j
Bal an ce at 30 June 2024	11,613,73s	2,511,450	(142,129)	13,983,056
Balan ce at 1 Jan u ary 2025	11,613,735	2,242,28 8	14,093	13,870,116
*otal comprehensive income for the period		1,428,268	13,74 2	1,^ 1,980
Dive dend to r 2024		(2,206, 610)		(2,206,610)
Balance at 30 June 2025	11, 613,735	1,463,946	27,805	13,105,486

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Statement of Cash Flows (Un-audited) for the period ended 30 June 2025

	Notes	Jan-Jun 2025 Taka'000	Jan-Jun 2024 Taka'000
Cash flows from operating activities
Cash receipts from customers		15,337,282	14,766,924
Cash paid to suppliers and employees		(13,842,092)	(11,725,607)
Cash generated from operations		1,495,190	3,041,317
Income tax paid		(439,002)	(537,418)
Other receipts		24,419	19,953
I'Jet cash generated by operating activities		1,080,607	2,523,852
Cash flows from investing activities
Payments for property, plant and equipment		(668,945)	(355,607)
Proceeds from sale of property, plant and equipment		1,702	8,859
Interest income on bank deposits		79,353	116,798
Net cash used/generated by investing activities		(587,890)	(229,950)
Cash flows from financing activities
Repayments of the lease liabilities		(15,898)	(17,029)
Proceeds from / (repayment of) short term borrowings		(232,579)	332,694
Payment of interest and other finance cost		(7,792)	(299,669)
Interest paid on lease liability		(5,833)	(7,178)
Proceeds from Margin accounts with banks		50,839	(301,376)
Dividend payment		(2,205,728)	(5,405,213)
Net cash used in financing activities		(2,416,991)	(5,697,771)
Net effect of foreign currency translation on cash and cash	equivalent	1,086
Net increase/(decrease) in cash and cash equivalents		(1,923,188)	(3,403,869)
Cash and cash equivalents at beginning of the period		8,117,607	9,011,682
Cash and cash equivalents at end of the period		6,194,419	5,607,813
Net Operating Cash Flow Per Share (NOCFPS)		0.93	2.17

Company Secretary Chief Financial Officer

Director Director Chief EculetOfficer

LAFARGEHOLCIM BANGLADESH PLC.

Notes to the Condensed Financial Statements (Un-audited) for the period ended 30 June 2025

General information
LafargeHolcim Banglades h PLC. - (hereinafter referred to as "the Company") was incorporated on 11 November 1997 as a private limited company in Bang|adesh under the Companies Act, 1994 having its registered office in Dhaka. At the time of incorporation the name of the Company was "Lafarge Surma Cement Limited". On 07 February 2017 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) approved Ihe name change to "LafargeHolcim Bangladesh Limited" of the Company. On 18 August 2024 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) further approved the name change to "LafargeHolcim Bangladesh PLC." of the Company. The Company has subsequently been converted into a public limited company on 2D January 2003 and went for Initial Public Offering of shares in November 2003 which was fully subscribed and issued. The shares haye since been 1isted and are being traded in Dhaka and Chittagong StocK Exchanges.
Nature of bus iness
The Company operates cement and aggregates manufacturing plants at Chhatak under Sunamganj district, and three (3) grinding plants near Dhaka and Khulna. The Company extracts and processes the basic raw materials of limestone from the quarry in Meghalaya, India, owned by the Company's fully owned subsidiary Lafarge Umiam Mining Private Limited. A 17 kilometres cross-border conveyor belt llnks the quarry with the cement plant for transportation of raw materials.
The company is engaged in manufacturing and marketing of building materials in the local market and international market.
Basis of preparation
The interim financial statements have been prepared in accordance with International Accounting Standard 34
Interim ri» cial Report'ng.
Significant accounting policies

The same accounting policies, presentation and methods of computation have been followed in these interim financia| statements as were applied in the preparation of the Company's financial statements for the ye8r ended 31 December 2024.

Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in the current period.

Gas sales agreement with JGTDS

The amount of other current assets includes an advance of Taka 2,969,755 (in thousands) paid to Jalalabad Gas Transmission and Distribution Systems Limited (JGTOS}.

The Company had an Arbitration with JGTDS. On 15 Septem oer 2023, the Arbitration Tribunal issued the Final Award in favor of the Company. As per the Award, the Ceiling Price is a valid and enforceable provision of the Gas Sales Agreement (CPA). In March 2024, JGTDS filed an App|ication before the Honorable High Court Division of the Supreme Court of Bangladesh far supply of gas at a rate fixed by the Bangladesh Energy Regulatory commission (BERC) from September 2015 onwards. The hearing on tfie Application filed by JGTDS is ongoing before the Honorable Court.

The Primary Term of the GSA is for 20 years from the Gas Delivery Commencement Date, which is due on 17 January 2026. On June 24, 2025, the Company and JGTDS executed two (2) new Gas Sales Agreements (GSAs), one for supply of gas to the Kiln and the other for supply of gas to the Captive Power Plant at the Company's Plant located at Noarai, Chhatak, Sunamganj. The GSAS are effective for a term of ten (10) years from 18 January 2026 with provisions for successive renewals. This will ensure continuous energy security for the Company.

Short-term borrowings

30 Jun 2025

Taka'000

31 De c 2024

Taka'000

Short-term borrowings under different facilties will banks

Jan-Jun 2025

Jan-Jun 2024

la ka'000

Taka'000

Revenue

dale of g ray cement

11,866,430

11,745,151

Sale of cement clinker

47,246

29,868

Male of a ggreg a[es

3,097,427

2,G43, 677

14,981,103

14,418, 696

Finance costs

"in ance cos Is decrea sed due to reduced exchange loss during the period

9 A. Inco me tax

Current income lax expenses

462,524

482,119

Deferred income tax income

(55,792)

(50, 002)

406,73 2

432,117

B. Reconciliatio n of effective tax rate (%)

Average statutory tax rate

20.00

20.0 0

Permanent differences

524

1.85

Deferred tax

Effect of change in lax rate

(304)

(2.26)

Effective tax rate

221T

19.59

10 A. Earnings Per Share

The computation of bas ie earnings per share for the periods ended 2025 and 2024 are as follows

Numerat or (Thousand Taka)

rofit for the period Denominato r

(Thousands of Shares)

1,428,268

1,784,900

Weighted average number of s dares oulslanding

1,161,374

Basic Earnings Per Share Diluted Earnings Per Share

Taka Taka

1.23

1.54

B. Net operating cash flow per share (NOCFPS)

The computation of net operating cash flow per share for the periods ended 2025 and 2024 are as follows: Numerator (Thousand Taka)

Net operating cash flow for the period	1,080,607	2,523,852
Denominator (Thousands of Shares)
Weighted average number of shares outstanding	1,161,374	1, 61,374
Net operating cash flow per share Taka	0.93	2.17
C. Net asset value (NAV) per share	30 Jun 2025	31 Dec 2024

The computation of net asset value per share for the periods ended 2025 and 2024 are as follows: Numerator (Thousand Teks)

Net asset value for the period/year

Denominator (Thousand Shares)

Weighted average number of shares outstanding

13,105p86

1,161,374

13,870,1J6

1,161,374

Net asset value per share

Related party transactions

Taha

11.28

11.94

Except for the regular transactions, there were no significant related party transactions during the period.

12 Comparative information for the shareholders	30 Jun 2025 Taka	31 Dec 2024 Taka
Net asset value (NAV) per share	11.28	11.94
	Jan-Jun 2025	Jan-Jun 2024
	Taka	Taka
Earning Per Share (EPS)	1.23	1.54
Net Operating Cash flow Per Share (NOC8PS)	0.93	2.17
Profit for the period	1,428,268,000	1,784,900,000

Reconc il iation of cons olidated Net Profit with cash flows fro m operating activities

	Jan-Jun 2025	Jan-J un 2024
	TaLa'000	la ka'000
Ne' profit for the period	1,428, 268	1,78é,900
Income tax expenses	405,732	432.117
Net profit before tax	1,835,000	2,217,017
Deoeciation and an ohizaion	571,713	1,087, 483
Ohe nomah iems	20,91 0
Non-opera hng items	9,711	329,508
Income tax paid	(439, 002)	(537,418)
Changes in net working capital	(917,725)	(572,738)
Cas h flows from operating activities	1,080,607	2,523,8 52

Director Director Chief Executive Officer

‌NinaKabbo, Level-7, 227/A Bir Uttam Mir Shawkat Sarak (Gulshan Tejgaon Link Road), Tejgaon, Dhaka -1208, Bangladesh Phone:+88 02 222281002, 222286393, Fax:+88 02 222286394,

Email: info.cs@lafargeholcim.com, Web: https://www.lafargeholcim.com.bd

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