Julius Berger’s total assets crossed the N1trn mark in 2024, marking a significant milestone in the company’s financial performance.

In a statement, it was revealed that the disclosure was made during the company’s first forum under its new Managing Director, Dr. Peer Lubasch, who took over in October 2024, alongside Executive Director of Finance Christian Hausemann.

Presenting the update on the Julius Berger’s financial status, Lubasch said the company delivered a record-setting performance in 2024, underpinned by disciplined execution, operational resilience, and a forward-thinking growth strategy.

He said, “On the record revenue growth, the group revenue surged by 27.8 per cent to N567.7bn, fuelled by increased project execution and enhanced contributions from subsidiaries. Significant increase in profit: the profit before tax rose by 34.1 per cent to N29.6bn, supported by prudent cost management, FX hedging through its German subsidiary, and investment returns.

“The asset base expansion revealed that total assets climbed 48.9 per cent to over N1.023 tn, reinforcing balance sheet strength. The company paid its highest-ever dividend of N3.25 per share, totalling N5.2bn, underscoring shareholder value creation.

“The credit rating upgrade was upgraded from A- to A (Stable Outlook) by Augusto & Co., driven by strong governance and financial health.“

He further noted that the diversified Shareholding Structure was at 44.63 per cent of shares held by a diverse mix of institutional, pension, and retail investors.

He continued, “The cross-border expansion secured a second international contract in the Republic of Benin, solidifying its regional expansion agenda.

“ESG and digital milestones were the major investments in solar power, digital fuel monitoring, and adoption of SAP S/4HANA ERP, reflecting a strong commitment to innovation and sustainability. Resilience and strategic leadership were the bedrock.

Despite a turbulent macroeconomic landscape in 2024 marked by high inflation, exchange rate volatility, and surging material costs, Julius Berger delivered record financial results. Its momentum stayed strong, though the year was marked by economic volatility and shifting market dynamics.

“Julius Berger’s subsidiaries enhanced both technical capacity and revenue diversification across the Group. For instance, Julius Berger International GmbH (Germany): Delivered foreign exchange earnings and led client acquisition in Europe.”

Lubasch noted that the company’s sustainability remained a core focus in 2024.

He stated, “This was demonstrated through clean energy adoption, as we transitioned to solar across multiple sites and reduced reliance on diesel. The company deployed real-time fuel monitoring systems and migrated to SAP S/4HANA; we progressed toward ISSB-aligned sustainability reporting, with the first full report expected by 2027.

“N555m committed to education, healthcare, rural infrastructure, and reforestation. The company reported a 27.8 per cent revenue increase to N567.7 bn and a 34.1 per cent rise in profit before tax to N29.6bn. Total assets reached N1.023 tn, reflecting prudent financial management and growth.

“The company’s highest-ever dividend payout of N3.25 per share (N5.2bn) underscores its commitment to delivering tangible value to shareholders.”

The Executive Director of Finance, Christian Hausemann, highlighted that the company’s low-leverage model, supported by N162.0 bn in cash reserves, provided strong capital stability and flexible funding capacity.

“The company’s 2024 performance confirms its position as one of Nigeria’s most investment-worthy companies. Its ability to achieve record revenue and profit in a challenging environment, deliver historic dividends, and maintain a strong balance sheet demonstrates operational excellence and prudent management.

“With a proven track record of over 750 completed projects, a forward-looking strategy focused on diversification and regional expansion, and a steadfast commitment to sustainability and innovation, Julius Berger stands out as a trusted partner for progress and a compelling vehicle for long-term value creation.

“With over 60 years of expertise and more than 750 completed projects in Nigeria, it is undoubtedly the country’s most trusted engineering and construction group.”