Dangote Cement plc reported
a 62.2 per cent increase in its group revenue to NGN3.58trn in 2024. Group volumes edged up by 1.6 per cent YoY to 27.708Mt as Nigerian volumes were up 7.9 per cent to 17.7Mt and exports of cement and clinker from Nigeria advanced 69.1 per cent to 1.2Mt. This led to a 64 per cent surge in Nigerian revenue to NGN2.064trn and a 57 per cent increase to pan-African revenue to NGN1.4trn.
Gross profit improved 61 per cent YoY to NGN1.935bn. Selling and distribution expenses were up 69.5 per cent to NGN618.664bn while administrative expenses increased 74.3 per cent YoY to NGN220.537bn. There was a net foreign exchange loss of NGN92.105bn, up 31.7 per cent YoY.
Group EBITDA was up 56 per cent YoY to NG1382bn, resulting in an EBITDA margin of 38.6 per cent.
In Nigeria, EBITDA rose 67.2 per cent YoY to NG1087.3bn, with a margin of 49.6 per cent while the group’s pan-Africa EBITDA advanced 30.9 per cent YoY to NGN345.3bn, resulting in a margin of 23.3 per cent. The company incurred a 125.2 per cent higher finance cost of NG700.299bn. Profit after tax increased by 10.5 per cent YoY to NGN503.2bn.
"We wrapped up 2024 with strong momentum, driven by our focus on operational efficiency and excellence. Our Group volumes grew by 1.6 per cent YoY reaching 27.7Mt, driven by a strong recovery in Nigeria, where we improved efficiency and boosted sales growth by 7.9 per cent. A major milestone was the launch of the DMS, which enables customers to independently manage sales transactions and track deliveries, remotely. Over 80 per cent of our customers actively use this platform, and we aim to increase adoption to 90 per cent,” said Arvind Pathak, CEO.
