55th Annual General Meeting: Julius Berger Nigeria. Ltd Shareholders Celebrate New Leadership of Goni, Lubasch

L-R: Director of Administration, Julius Berger Nigeria PLC, Alh. Dr. Kaita Abdulaziz; Executive Director, Finance, Mr. Christian Hausemann; Independent Non-Executive Director, Engr. Jafaru Damulak; Company Secretary, Mrs. Cecilia Madueke; Independent Non-Executive Directors, Mr. Ernest Chukwudi Ebi; Dr. Muhammadu Indimi; Dr. Ernest N. Azudialu-Obiejesi; Managing Director, Engr. Dr. Peer Lubasch; Chairman, Engr. Goni Musa Sheikh; Mrs. Belinda Ajoke Disu; Vice Chairman, Mr. George Marks; Independent Non-Executive Director, Amb. Adamu Saidu Daura; Independent Non-Executive Director, Mr. Chidi Anya; Director, Corporate Development, Jochen Stolle at the company’s 55th Annual General Meeting held in Abuja, Thursday

..... As Company pays out total gross dividend of N5.2bn

 

Leading engineering construction company, Julius Berger Nigeria Limited has held its 55th Annual General Meeting, AGM, with shareholders demonstrating  their excitement at the assumption of duty of the Board Chairman, Engr. Goni Sheikh and Managing Director of Julius Berger Nigeria PLC, Engr. Dr, Peer Lubasch; both of whom presided over their first AGM of the company since their appointments into their respective new offices.

At the well-attended meeting held inside the Shehu Musa Yar’Adua Centre, Abuja, Thursday, the shareholders demonstrated their optimism by trying to outdo one another in their active contributions all through the meeting with each that had the opportunity lauding the appointments of the duo and expressing their expectations that, now the company is in good hands.

One shareholder who said she is from the Southwest, openly told some of her fellow shareholders that, "the leaders we had did and performed well. And with the new combo of Goni Sheikh and Peer Lubasch, things will get better for Julius Berger, our dear company.

The shareholders further demonstrated their resolve by overwhelmingly passing all the resolutions of the Board like, shareholders dividends, new Executive Directors, new non-Executive Director, re-election of some directors and the appointment of Goni as a Director of the company.

In his address to shareholders at the meeting, the Managing Director said that since he assumed office months ago, the company is successfully navigating the headwinds of challenges in its line of duty.

Lubasch said the broader socio-economic environment continues to present significant challenges shaped by a range of persistent and compounding pressures like currency devaluation, ongoing foreign exchange scarcity, escalating construction costs, surging inflation, increased fuel prices, high lending rates, global market uncertainties and domestic security concerns.

Stressing that the foregoing factors combined to create a tough and unpredictable business landscape, especially for the construction sector and Nigeria in particular, he added that in line with the company’s mission statement, we continue to transform these challenges into tangible opportunities.

As a company, we have continued to demonstrate resilience, navigating headwinds by adapting with an eye towards efficiency and sustainable growth. Lubasch said, adding  that accordingly, the company achieved record-high revenue, expanded its asset base and maintained stability across both new and ongoing projects within the reporting year.

The Managing Director disclosed that the success of the company in the year under review stemmed from the well-established and forward-looking strategy which integrates core business strengths, the collaboration and contributions of the growing group of subsidiaries alongside a deliberate diversification policy which has largely defined the success story of the company.

On diversification, Lubasch said, we are already making significant steps forward with our regional diversification strategy, with two contracts in the Republic of Benin, even as he assured excited shareholders of greater success even in these hard times, which he attributed to, the well-disciplined execution of our strategy, our agile leadership, the dedication of our teams and the power of our fundamental values of excellence, responsibility, courage and collaboration.

Rounding up his address, the Managing Director did not mince words in assuring that the company’s leadership remains poised to building a future defined by excellence, saying, while the future holds many unknowns, we remain certain that no matter the challenge, Julius Berger will continue to be defined by the excellence and innovation  and to operate in a sustainable manner that aligns with our ethos and values in line with global standards.

He added: supported by our dedicated and skilled workforce, our unique operational structure and effective management, we will remain a future-ready, high-performing corporate organisation that clients continue to rely on, and shareholders continue to trust.

In his own address, the Chairman announced a total gross dividend payout of N5.2billion to shareholders amounting to N3.25 per 50 kobo ordinary share.

According to Sheikh, though the Julius Berger Group financial results continue to be heavily affected by persistent inflation, currency devaluation, and high lending rates which led to rising construction costs coupled with security challenges and unrest in certain parts of the country, the company will continue to mitigate risks and ensure steady operations.

He also said, “with Julius Berger’s dedication to efficiency, the strength of our strategic partnerships and our unrelenting hard work, we will continue to remain resilient amidst the numerous challenges faced, maintaining our industry leadership and delivering on our commitments satisfactorily.”

Sheikh highlighted that the foundational ethos of “safety first” at Julius Berger as a key pillar of the company’s operational efficiency, saying, this culture has effectively reduced risks and improved productivity, allowing the Julius Berger Group keep workplace incidents at a minimum. 

He shared that a revamped Health, Safety, and Environment (HSE) strategy has been established, focused on obtaining ISO 45001 certification for our Safety Management System and ISO 14001 certification for our Environmental Management System. Stressing that “the company is committed to further strengthening our dedication to HSE excellence for the benefit of all stakeholders.”

He further said that Julius Berger Nigeria Plc can count 2024 as another year of significant achievements. Adding, “we met our revenue and profitability targets, reinforcing our financial strength despite macroeconomic headwinds, and meeting performance targets across our portfolio.”

According to the Chairman, across the Group, Julius Berger Nigeria Plc continued to develop progressively in the year under review toward key objectives. For instance, he added, Primetech Design and Engineering Nigeria Limited., delivered strong result. This remarkable improvement in performance has led to a substantial increase in Primetech Design and Engineering Nigeria Ltd’s Total Equity.

He proudly announced: “it is notable to mention that our staff remain our greatest asset. The company continues to expand its training programmes and intensify investment in staff development, capacity building, upskilling and mentoring and proactively enhancing employee wellbeing and career progression opportunities to foster a healthy, ambitious and innovative workforce.”

Pictures