Dangote Cement Maintains Strong Performance In Q3 - THE DAILY CRUCIBLE

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Friday, October 29, 2021

Dangote Cement Maintains Strong Performance In Q3




The Daily Crucible | Published Friday, October 29 2021

Africa’s largest cement producer, Dangote Cement Plc has announced improvements in performance measurement indices for the nine months ended 30thSeptember 2021.

This is as even the Group sales hit 22.2 million tonnes. Sales volume in Nigeria remained strong and accounted for 14.1 million tonnes despite heavy rains in the third quarter. Pan-African operations accounted for the balance of 8.2 million tonnes.

A look into the results, released yesterday, indicated that the cement group posted revenues of ₦1,022.2 billion, while profit before tax was ₦405.5 billion while   Profit after tax was ₦278.3billion. The company recorded a tax charge of N127.24 billion for the period under review.

Group Chief Executive Officer, Dangote Cement Plc, Michel Puchercos, in his comments, said “We are pleased to report a solid set of the results for the first nine months of the year. Group volumes for the nine months were up 15.4 percent compared to the first nine months of 2020. Given the strong rebound in Q3 2020 following the impact of COVID-19 in the first half of the year, volumes in Q3 2021 were slightly lower than Q3 2020, as anticipated though worsened by heavier rains. 

“However, the overall growth trend continues, supported by our ability to meet the strong market demand across all our countries of operation. The economic performance and efficiency initiatives across the Group, enabled the offsetting of inflationary pressures on some of our cost lines.

“Our Nigerian business recorded volume growth of 18.7% in 9M 2021 at 14.1Mt and despite operating in a complex, challenging, and fast-moving environment, Dangote Cement is consistently delivering superior profitability and returns to the shareholders.

“ Our alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reducing CO2 emissions and sourcing material locally.” 

Dangote Cement is Africa's leading cement producer with nearly 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 its added 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, it has 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).

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