Dangote Cement sees 45% rise in revenue

Nigeria’s Dangote Cement has posted a 44.8 per cent YoY rise in group revenue to NGN690.55bn (US$1.676bn) in the first half of 2021, compared to NGN476.85bn in the year-ago period.

Group EBITDA also climbed 61 per cent to NGN351.06bn from NGN218.07bn in the 1H20, while the EBITDA margin increased to 50.8 per cent from 45.7 per cent.

Overall group cement volumes advanced 26.1 per cent YoY to 15.28Mt from 12.11Mt, supported by strong demand across all operations.

"We are pleased to report a solid set of 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 2Q20 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," said Michel Puchercos, CEO.