Categories
PRESS RELEASE

Press Release on Commercial Paper Programme

August 26, 2021
Lagos, Nigeria

Press Release on Commercial Paper Programme

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces a new ₦150 billion Commercial Paper Programme. This Programme allows us to broaden our potential funding sources and, combined with our ₦300 billion multi-instrument issuance Bond programme, increases our access to capital market funding.

The Commercial Paper Programme will be used for working capital and general corporate purposes.

Commenting on the programme, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc, said:

“The establishment of a new ₦150 billion Commercial Paper Programme confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.

I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of commercial papers and bonds. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement Plc.”

Signed:

Edward Imoedemhe
Deputy Company Secretary

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Dangote Cement Plc Announces Unaudited Results For H1 2021 Ended 30th June 2021

Demand remains strong across our 10 countries of operation

Profit after tax up 51.9% at ₦191.6B

Lagos, 30th July 2021: Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces unaudited results for the six months ended 30th June 2021

Financial Highlights

  • Group revenue up 44.8%, to ₦690.5B
  • Group EBITDA up 61% to N351.1B; 50.8% margin
  • Pan-Africa EBITDA up 49.8% to ₦477.2B; 23.8% margin
  • Profit after tax up 51.9% to ₦191.6B
  • Net debt of ₦400.9B; net gearing of 49.8%

Operating Highlights

  • Group sales volumes up by 26.1% to 15.3Mt, supported by strong demand across all operations
  • Nigeria volumes up 33.2% to 9.9Mt
  • Double digit volume growth in Pan Africa of 15.5%
  • Recommended clinker exports from Nigeria in Q2
  • Two clinker shipments from our Nigeria terminals; one from Apapa and one from Onne

Capital Structure

  • Successful issuance of Series 1 Fixed Rate Senior Unsecured Bonds under DCPs new ₦300 billion Multi-Instrument Issuance Programme
  • Buy-back programme renewal approved by the Securities and Exchange Commission
  • Dividend of ₦16.00 per share was paid in May 2021, paid one month ahead compared to previous years.

Michel Puchercos, Group Chief Executive Officer, said:

“We are pleased to report a solid set of the results for the first half of the year. Our performance reflects the strong demand across the Group, with increases in revenue and profitability, compared to the same period last year. This strong intrinsic performance is magnified by the lower Q2 2020 results due to the effect of COVID-19. The growth trend continues, and we are focused on meeting the strong market demand across all our countries of operation.

We also continue to maintain a strong focus on health and safety measures in all our engagements with stakeholders. We have learned a lot over the past year on how to mitigate risks associated with COVID-19. We remain committed to protecting our team members and communities by being fully compliant with local laws and regulations.

Our Nigerian business recorded volume growth of 33.2% in H1 2021 at 9.9Mt, with a record EBITDA of ₦311.2B, up 60.1%. We recommenced our clinker exports in the second quarter after taking the strategic decision to pause them. This was to ensure we met the historic volume growth in the Nigerian domestic market since mid-2020. We are improving the output of our existing and new assets and I am happy to announce that our 3Mt Okpella plant is on track to come on stream in the next quarter.

Our Alternative Fuel project which focuses on leveraging waste management solutions, reducing CO2 emissions and sourcing material locally is at an advanced stage. The procurement and installation of the necessary equipment across all plants is ongoing.

In addition, Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. We believe that adopting XBRL reporting will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in our continuing efforts to modernise and enhance transparency of, and access to, companies’ disclosures.

As Africa’s leading cement producer, we are leading the way with our commitment to and best practices. We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders. Transparency and consistency are at the core of every part of our business culture.”

About Dangote Cement

Dangote Cement is Africa’s leading cement producer with 48.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 32.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five 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)

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Dangote Cement reports its financial results using XBRL format with the IFRS taxonomy

Issued: July 15, 2021
Lagos, Nigeria

Dangote Cement reports its financial results using XBRL format with the IFRS taxonomy

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces that its financial information has been made available to investors in eXtensible Business Reporting Language (XBRL) format using the IFRS taxonomy.

XBRL enables companies standardise the preparation, publishing, and exchange of financial information in a machine readable format. It is mainly used by publicly listed companies which are required to use it by law, such as companies listed in the USA, Europe and South Africa.

Dangote Cement becomes the first Nigerian listed company to report its financial results using IFRS taxonomy. Data contained in the Q3 2020, Full Year 2020 and Q1 2021 financial statements are now available in XBRL format.

Commenting on the execution of XBRL, Michel Puchercos, Chief Executive Officer of Dangote Cement, said:

“We believe that adopting XBRL reporting will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in Dangote Cement’s continuing efforts to modernise and enhance transparency of, and access to, companies’ disclosures.

It will enable our publicly available financial information to be captured accurately and promptly, thus bringing uniformity of our results on all the platforms and ensuring that investors and analysts who use these platforms have the correct information. Although XBRL reporting is not mandatory for companies listed on the Nigerian Exchange, it is becoming a universal format to exchange financial data and promotes the coordination of international reporting requirements.

The implementation of XBRL demonstrates Dangote Cement’s strong dedication to reaching international reporting and corporate governance standards. As Africa’s leading cement producer, we are leading the way with our commitment to sustainability and best practice.  We are driven by the goal of achieving the highest level of governance and building a prosperous and sustainable brand for all our stakeholders.  Transparency and consistency are at the core of every part of our business culture.”

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Share Buy-back programme renewal approved by the Securities and Exchange Commission

Issued: July 9, 2021
Lagos, Nigeria

Share Buy-back programme renewal approved by the Securities and Exchange Commission

Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces that the Securities and Exchange Commission has approved the renewal of its share buy-back programme until January 21 2022.

The share buy-back programme will be executed under the approval granted by the Company’s shareholders at the Annual General Meeting of Dangote Cement PLC which was held on 26 May 2021, within the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s Rules and Regulations and under the approval of the Nigerian Exchange.

The share buy-back will be undertaken through an open market offer or self-tender, at such times and on such terms as the management of the Company may determine, subject to prevailing market conditions. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buy-back programme.

Signed:

Edward Imoedemhe
Deputy Company Secretary

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Issuance of N50 billion Series 1 Fixed Rate Senior Unsecured Bonds Under the New NGN300 billion Multi-Instrument Issuance Programme

Issued: June 16, 2021
Lagos, Nigeria

Issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds Under the New NGN300 billion Multi-Instrument Issuance Programme

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces the successful issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds under the company’s new NGN300 billion Multi-Instrument Issuance Programme. The bonds were issued on May 26 2021 at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively.

Despite market headwinds, the bond issuance was well received and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. The proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements.

Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different type of investors. The ability to issue Green Bonds and Sukuk will enable the company leverage the depth and breadth of the Nigerian market.

Commenting on the bond issuance, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc. stated:

“This bond issuance allows us move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy while improving our cost competitiveness. We thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance.”

Absa Capital Markets Nigeria acted as Lead Issuing House for the Series 1 Bonds, and Stanbic IBTC Capital, Standard Chartered Capital & Advisory Nigeria Limited, United Capital Plc, FBN Quest Merchant Bank, FCMB Capital Markets, Coronation Merchant Bank, Ecobank Development Corporation Nigeria, Futureview Financial Services, Meristem Capital Limited, Rand Merchant Bank, Quantum Zenith Capital and Vetiva Capital Management acted as Joint Issuing Houses. The Bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.

Signed:

Edward Imoedemhe
Deputy Company Secretary

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Dangote Cement Plc Contemplates Debt Funding Options Under Planned ₦300Billion Bond Issuance Programme

Issued: March 25, 2021
Lagos, Nigeria

Dangote Cement Plc Contemplates Debt Funding Options Under Planned ₦300Billion Bond Issuance Programme

Dangote Cement Plc. (“the Company”) has obtained approval from its Board of Directors to access the Capital Market to support business growth and maximize available sources of its debt funding.

Dangote Cement Plc. is Nigeria’s largest listed entity by market capitalization on the Nigerian Stock Exchange, as well as Sub-Saharan Africa’s leading cement producer, with a combined installed capacity of 48.6Mta across its operations in 10 African countries.

The Company has submitted an application to the Securities and Exchange Commission (SEC) for the registration of a bond issuance programme.

Subsequent to obtaining regulatory approvals, the Company intends to explore its medium to long-term debt funding options through the debt capital market, subject to favorable market conditions. When raised, the proposed funding will be used for capital expenditure of the Company’s expansion projects, short term debt refinancing, and working capital requirements.

Signed:

Edward Imoedemhe
Deputy Company Secretary

Share on facebook
Share on twitter
Share on linkedin
Categories
News PRESS RELEASE

Outcome of The Meeting of Directors

Issued: March 18, 2021
Lagos, Nigeria

Outcome of The Meeting of Directors

This is to announce that at the meeting of the Board of Directors held on March 18 2021, the Board approved the Audited Financial Statements of the Company for the year ended December 31 2020. The Audited Financial Statements will be filed with the NSE on or before March 31 2021.
 
At this meeting, the Board also approved the recommendation of a dividend of N16.00 to the shareholders at the forthcoming Annual General Meeting. The date of the Annual General Meeting will be announced shortly.
 
Pursuant to this, the Closed Period will continue until 24 hours after the audited financial statements are published.
 
The Closed Period is applicable to all parties that may at any time possess sensitive information that may materially affect the price of the securities of the Company.

Signed:

Edward Imoedemhe
Deputy Company Secretary

Share on facebook
Share on twitter
Share on linkedin
Categories
PRESS RELEASE

Dangote Cement Plc Announces Audited Results For The Year Ended 31st December 2020

Performance sustained by strong demand coupled with cost saving measures
Robust profit after tax up 37.7% at ₦276.1B
Proposed dividend of ₦16.00 per share

Lagos, 23rd March 2021: Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces audited results for the financial year ended 31st December 2020.

Financial Highlights

  • Group revenue up 16.0% to ₦1,034.2B
  • Group EBITDA up 20.9% to ₦478.1; 46.2% margin
  • Record high Pan-Africa EBITDA of ₦71.3B, up 49.0%; 22.4% margin
  • Earnings per share up 36.9% to ₦16.14
  • Proposed dividend maintained at ₦16.00 per share
  • Net debt of ₦337.3B; net debt/EBITDA of 0.71x

Operating Highlights

  • Group sales volumes up by 8.6% to 25.7 million tonnes
  • Total Nigerian volumes up 12.9% to 15.9Mt; domestic volumes up 14.3% at 15.6Mt
  • Pan-African volumes up 4.4% at 10.0 million tonnes
  • Clinker shipment from Nigeria via the Apapa Export Terminal
  • Commissioned Onne Export Terminal in Port Harcourt
  • Commissioned gas power plant in Tanzania

Share buyback

  • Completed a successful share buyback programme; repurchased 0.24% of shares outstanding

Michel Puchercos, Group Chief Executive Officer, said:

“Despite the impact of the COVID-19 pandemic, 2020 was a record year for Dangote Cement across board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance and successful buyback programme. We increased our capacity by 3Mt in Nigeria, commissioned our two export terminals and commissioned our gas power plant in Tanzania. All this was achieved whilst we focused on protecting our people, customers, and communities from the impact of the pandemic.

Dangote Cement recorded strong top-line growth supported by strong cement demand. Profitability was further bolstered by our disciplined cost control measures in what we believed to have been a highly inflationary and volatile year. These measures resulted in a 37.7% increase in profit after tax to ₦276.1B.

I am delighted to report that Dangote Cement experienced its strongest year in terms of EBITDA and strongest year in terms of volumes. Despite a challenging environment, Group volumes for the year were up 8.6% and Group EBITDA was up 20.9%, at a 46.2% margin.

Looking ahead, we have strengthened our alternative fuel initiative which focuses on leveraging the circular economy business model and reducing exposure of our cost base to foreign currency fluctuations. We continue to embed Dangote Cement’s 7 sustainability pillars into every aspect of our operation and culture.

We remain committed to keeping our staff and communities safe by being fully compliant with health and safety measures in all our territories of operation. We are focused on adapting to the rapidly evolving markets in which we operate.”

 

About Dangote Cement

Dangote Cement is Africa’s leading cement producer with 48.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 32.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five 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).

Share on facebook
Share on twitter
Share on linkedin