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Market | Corporate Results

Dangote Cement Plc Reports N172.1bn PAT in Q2 2022 Results,(Share Price:N265.00k)

Aug 01, 2022   •   by   •   Source: NGX   •   eye-icon 618 views

Dangote Cement Plc released its Q2 2022 Unaudited results for the period ended June 30th 2022.

Key Highlights

  • Revenue grew by 17% from N690.54 to N808.04bn.
  • Profit before tax stood at N264.89bn
  • Profit after tax stood at N172.1bn
  • Share Price Currently Stands at N265k

Dangote Cement Plc, Africa’s largest cement producer, announces unaudited results for the six months ended 30th June 2022. 

Financial highlights 

  • Group revenue up 17.0% to ₦808.0B 
  • Group EBITDA up 6.3% to ₦373.2B; 46.2% margin 
  • Nigeria EBITDA up 12.3% to ₦349.4B; 56.1% margin 
  • Profit after tax down 10.2% to ₦172.1B, due to unrealised foreign exchange losses 
  • Net debt of ₦423.0B; net gearing of 54.5% 

Operating highlights 

  • Group sales volumes down 7.0% to 14.2Mt 
  • Nigeria volumes down 5.3% to 9.3Mt 
  • Global supply chain disruption impacting operations where imports are required 
  • Commenced the 3rd season of the National Consumer Promotion 
  • 3Mta Okpella plant ramp up ongoing

Michel Puchercos, Chief Executive Officer, said: 

“Despite the elevated inflation due to a very volatile global environment, the first half of 2022 has been positive. We recorded increases in revenue and EBITDA that drove strong cash generation across the Group. We recorded revenue of ₦808.0B, up 17.0% compared to last year and Group EBITDA of ₦373.2B, up 6.3% with an EBITDA margin of 46.2%. 

Although significant increase in energy and AGO costs are impacting production, we are strengthening our efforts to ramp up the usage of alternative fuels. Our Alternative Fuel Project aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. So far this year, we co-processed 67,230 tonnes of waste representing a 25% increase over H1 2021. 

To drive consumer engagement and support demand ahead of the rainy season; we have commenced the 3 rd season of our National Consumer Promotion – “Bag of Goodies 3”. On the operational side, we are ramping up production at our Okpella plant and are progressing well to deploy grinding plants in Ghana and Cote d’Ivoire. 

Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Our continuous focus on efficiency, meeting market demand and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders

Visit  Dangote Cement Plc IR Page in Proshare MARKETS

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