Investor Forum 2024: Julius Berger, A Major Player In Nigeria’s Construction Industry, Says Richter.

Dr. Lars Richter, Managing Director of Julius Berger Nigeria Plc, has stated that the company is a significant player in the Nigerian construction sector, despite the challenges of the Nigerian economy in 2023.

During a recent Investors Forum, the Managing Director stated that the company remains a major player in Nigeria’s construction industry, following its successful 54th Annual General Meeting. We have the brand and experience; we are aware of the increased competition; and we remain a Tier 1 construction company. We have the funding; we have the capacity in terms of manpower and experience that many of our competitors cannot match.”

Richter anticipates new project opportunities in states such as Abia, Delta, Rivers, and Akwa Ibom, as well as the Republic of Benin, where the company currently has ongoing projects. Potential clients have also been identified.

In response to another question, the Managing Director stated that “Julius Berger completed Phase 1 of the Lagos-Sagamu Motorway last year.”.The project is ongoing, with Phases 2 and 3 currently being reviewed by the government. The asphalt work there is acceptable. Currently, some minor repairs are being performed. We are ready to continue working on the project, but it will be dependent on the government.”

According to Richter’s highly rated CSR scorecard, Julius Berger actively trains and employs unemployed youths at operational sites, providing opportunities for skill development and societal benefit. He added, “We employ them in the sites.” We do not only employ skilled workers there. We hire unemployed youths and train and equip them for work at our facilities. We also provide them with education at our Academy. Indeed, we do a lot to train unemployed youths.”

Richter stated that Julius Berger prioritises education, community development, and philanthropy in their CSR efforts. The company’s Community Liaison Officers (CLOs) in operational communities provide feedback to relevant departments to ensure long-term impact. They are effective communicators with the community. We receive feedback from them. So we can easily address our CSR complaints.”

Richter responded to a question about diversification, stating that the company prioritises the food and healthcare sectors, as well as regional diversification in Cotonou, Republic of Benin. Richter assured potential investors of Julius Berger’s diversification efforts, stating, “We are primarily a construction company.” Jochen Stolle is overseeing Julius Berger’s diversification efforts. He oversees all diversification projects and sectors. We are exploring a new field of B2B business diversification. Food security is becoming a major issue, and we are already looking into how we can contribute and be relevant.”

Regarding the reported vandalism of sections of the newly constructed Second Niger Bridge, the Managing Director stated, “the company is assisting the Federal Government to fix the vandalised project.”He stated, “We have records of the vandalism.” We are assisting the federal government with this. Our team was there, and the national asset sustained only minor damage. However, no changes were made to the infrastructure.

Richter stated that Julius Berger maintains a positive outlook in all aspects of their operations. Our strategic framework prioritises sustainability, promotes growth, leverages innovation, and focuses on long-term success. We will continue to provide high-quality services to our clients, and despite the challenges, Julius Berger is on track for innovation, sustainability, and growth, among other positive developments.”

The Financial Director, Christian Hausmann, who also spoke at the event, expressed confidence that the company’s fortunes are improving.

The virtual Investors Forum, which drew participants from all over the world, featured presentations from the Managing Director and the Financial Director, as well as a Q&A session.

The annual Julius Berger Investors Forum provides an opportunity to highlight the intricate tapestry of our company’s operations and financial achievements. The Forum allows the company to reveal the blueprint for its acclaimed success while also providing discerning investors and potential investors with a comprehensive view of the company’s journey, achievements, and aspirations.

The company believes that by meticulously examining its business model, operational prowess, and financial highlights, investors and potential investors will gain invaluable insights into the compelling investment opportunities that Julius Berger provides in the construction industry.