Dangote Cement records robust EBITDA growth in 1Q21

Dangote Cement Plc announced group revenues of NGN332.7bn (US$874.4m) in the 1Q21, up 33.5 per cent. Group EBITDA rose by 55.8 per cent to NGN178bn, while Pan-African EBITDA reached NGN23.7bn, an increase of 61.9 per cent. Profits after tax increased by 48.1 per cent to NGN89.7bn.

Dangote Cement's group sales volumes rose by 18.7 per cent to 7.5Mt and Nigerian volumes increased by 22.2 per cent  to 4.9Mt. Pan African volume growth saw double-digit growth of 12.8 per cent.

"The first quarter of 2021 has started positively, with increases in revenue and profitability that drove cash generation across the Group. We recorded PAT of NGN89.7bn, up 48.1 per cent compared to last year. The 2H20 growth trend has continued into the 1Q21 and we are maintaining our focus on meeting the strong market demand across all our countries of operation," said Michel Puchercos, Dangote Cement's CEO. 

"Our Nigerian business recorded volume growth of 22.2 per cent in 1Q21 at 4.9Mt, with a record EBITDA of NGN157.9bn, up 52.7 per cent. This strong performance was boosted by the ramp-up of our new and efficient 3Mt Obajana Line 5," he added.

Meanwhile, operations outside of the home market of Nigeria continued to perform robustly: "Our Pan-Africa operations have reached new heights, with an EBITDA margin of 25.5 per cent and volume growth of 12.8 per cent reported during the quarter," stated Puchercos.