During the nine-month period ending on September 30, 2023, Dangote Cement reported a remarkable 15.2 percent increase in its pan-African sales volumes, which surged from 7.4 million metric tons (Mt) to 8.5 million Mt, when compared to the same period in 2022.
Pan-African volumes encompass the sales volumes of Dangote Cement’s plants situated outside of Nigeria.
An analysis of the cement company’s unaudited results, which were made available on the Nigerian Exchange (NGX) platform, reveals that this substantial increase in volumes was primarily driven by robust sales from specific plants.
Notably, Dangote Cement Plant in Senegal recorded an impressive 66.9 percent surge in sales, while Dangote Cement Plant in Congo reported a significant 60.5 percent increase in volumes.
Other Dangote Cement plants across various African countries also contributed to this growth, with Dangote Cement Zambia showing an 18 percent increase, Ghana at 15.5 percent, South Africa at 18.5 percent, and Ethiopia and Tanzania at 6.5 percent, respectively.
In terms of financial performance, the company reported a 20.5 percent rise in profit before tax, from N335.9 billion to N404.89 billion, while profit after tax increased from N213.10 billion to N277.55 billion, indicating a substantial 30.2 percent increase.
Arvind Pathak, the Chief Executive Officer, commented on these results, attributing the positive outcome to a combination of factors, including a strong value proposition, improved operational efficiency, and a determined effort to manage costs amid an inflationary environment.
The Group’s revenue reached ₦1,514.6 billion, with EBITDA achieving an all-time high of ₦662.8 billion, reflecting a 28.5 percent increase.
Furthermore, Dangote Cement’s pan-African operations demonstrated exceptional growth, with a record revenue increase of 103.9 percent and an astonishing EBITDA growth of 255.4 percent.
These pan-African operations contributed 41.9 percent to the Group’s volumes, driven by sustained demand across the countries where they operate.
Pathak also highlighted the company’s expansion plans, noting the completion of a 1.5 million metric tons per annum (Mta) grinding plant in Cote d’Ivoire and the earlier commissioning of the 0.45Mta Takoradi plant. He emphasized Dangote Cement’s commitment to delivering superior cement and expressed confidence in the company’s future performance.
Dangote Cement, as Africa’s leading cement producer, maintains a substantial capacity of 52.0Mta across the continent.
With fully integrated operations from quarry to customer, the company holds a production capacity of 35.25Mta in Nigeria, where its Obajana plant stands as the largest in Africa.
Through strategic investments, Dangote Cement has transformed Nigeria from a cement importer to an exporter, serving neighboring nations.
Additionally, Dangote Cement operates in various other African countries, including Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (2.0Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), and Zambia (1.5Mta).
