Dangote Cement Plc recorded a profit after tax of N209.2bn for the first quarter ended 31 March 2025, representing an increase of 85.7 per cent compared to the N112.7bn recorded in the corresponding period of 2024.
The group’s unaudited financial statements filed with the Nigerian Exchange Limited recently showed a 21.7 per cent growth in revenue to N994.7bn, up from N817.4bn recorded in the same quarter of the previous year. The growth was largely attributed to strategic pricing initiatives, particularly in Nigeria, where revenue grew by 53.7 per cent.
Gross profit rose to N587.4bn from N419.2bn, while profit before tax increased by 87 per cent to N312bn from N166.4bn recorded in the previous year.
Group earnings before interest, taxes, depreciation, and amortisation surged by 49.2 per cent to N461.6bn, with EBITDA margin strengthening to 46.4 per cent, compared to 40.7 per cent in the same quarter of 2024. In Nigeria alone, the EBITDA margin improved significantly from 49.7 per cent to 56.7 per cent, driven by effective cost-containment strategies.
Despite macroeconomic headwinds, group volumes declined by 6.7 per cent to 6.6 million tonnes during the quarter, reflecting softer demand and heightened inflationary pressures across key markets. However, export volumes grew by 21.2 per cent, bolstered by eight clinker shipments to Ghana and Cameroon.
Commenting on the results, the Chief Executive Officer of Dangote Cement, Arvind Pathak, said, “Dangote Cement delivered a strong and resilient performance in the first quarter of 2025, despite facing persistent macroeconomic challenges across our key markets.
“Group revenue rose by 21.7 per cent to N994.7bn, supported by strategic pricing initiatives, particularly in Nigeria, where revenue grew by 53.7 per cent. We also achieved a notable improvement in profitability. Group EBITDA grew by 49.2 per cent to N461.6bn, with the EBITDA margin strengthening to 46.4 per cent.”
He added, “We made measurable progress on our sustainability journey during the quarter, with increased use of alternative fuels, expansion of waste heat recovery infrastructure, and firm steps towards our medium-term decarbonisation roadmap.
“As we look to the future, our focus remains unwavering on driving sustained profitability, expanding our export presence, and executing strategic long-term investments. These efforts are designed to fuel sustainable growth and create lasting value across our operations in Africa.”
In terms of financial position, total assets stood at N6.45tn as of 31 March 2025, a slight increase from N6.4tn recorded as of 31 December 2024. Total liabilities amounted to N4.07tn, compared to N4.23tn in December 2024. Net assets stood at N2.58tn at the end of the period.
The group’s share capital and share premium remained unchanged at N8.4bn and N42bn, respectively.
Further breakdown of the tax position revealed that current tax assets rose to N2.54bn as of 31 March 2025 from N1.83bn in December 2024, supported by exchange rate adjustments. Current tax liabilities climbed to N265.2bn from N183.2bn at the end of 2024, following higher tax charges during the period.
Deferred tax assets increased slightly to N19.8bn from N19.4bn, while deferred tax liabilities stood at N211.5bn as of March 2025, compared to N196.4bn as of December 2024.
Meanwhile, Dangote Cement reported a total comprehensive income of N197.4bn for the quarter, down from N523bn recorded in the first quarter of 2024, mainly due to foreign currency exchange losses recorded under other comprehensive income.
Earnings per share rose to N12.29 from N6.68 a year earlier, representing an 84 per cent increase.
The PUNCH reported that the Chairman and Chief Executive Officer of Dangote Industries Ltd., Aliko Dangote, on Saturday unveiled a $400m plan to restart a second production line at Ethiopia’s Mugher cement plant, a move expected to double the facility’s annual output to 5 million tonnes.
