Lagos, 19th October 2017: Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces unaudited results for the nine months ended 30th September 2017.
- Group revenue up 36.5% to ₦603.6B
- Group EBITDA up 64.9% to ₦294.3B, 48.8% margin
- Nigeria EBITDA up 64.8% to ₦270.5B, 65.0% margin
- Pan-African EBITDA up 43.5% to ₦32.3B, 16.9% margin
- Earnings per share up 39.0% to ₦11.30
- Slight increase in net debt to ₦259.2B, up from ₦240.8B at the end of 2016
- Group sales volumes lower by 10.1%, mainly due to Nigeria
- Nigerian volumes down 19.2% to 9.6Mt
- Nigerian market share maintained at nearly 65%
- Pan-African volumes up 7.5% to 7.0Mt
- Strong volume increases in Senegal, Ethiopia and Cameroon
- New capacity of 1.5Mta onstream in Congo
Onne van der Weijde, Chief Executive Officer, said:
“Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37% despite a fall in volumes. In our key operations in Nigeria we have significantly improved our fuel mix and this has helped increase margins across the Group. It is especially good for Nigeria because most of the coal we are using is mined in our own country.
Our Pan-African operations are performing strongly with excellent sales growth in Cameroon, Ethiopia and Senegal. We are consolidating our success across Africa and have just commissioned our 1.5Mta factory in Congo, the tenth country in which we have established operations.”
About Dangote Cement
Dangote Cement is Africa’s leading cement producer with nearly 46Mta capacity across Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 29.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines; our Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta and our Gboko plant in Benue state has 4Mta. Through our recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.
In addition, we have operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).