Dangote Cement’s strategic initiatives aimed at boosting sales and ensuring a steady supply of products to customers have yielded remarkable results, with domestic sales volume surging by 26.1 percent to 4.6 million metric tonnes (Mt) in the first quarter of 2024.
The unaudited results for the three-month period ending April 30, 2024, revealed a significant increase in the company’s Nigerian operations volume, contributing to the overall rise in the Group’s volume to 7.0 Mt.
During this period, the cement giant achieved a Group revenue of N817.4 billion, while profit after tax saw a modest increase of 2.9 percent to N112.7 billion. Earnings per share also experienced growth, closing the quarter at N6.68, representing a 3.7 percent increase.
As part of its sustainability program, Dangote Cement commissioned ten out of the 17 Alternative Fuel Projects across the Group, further enhancing its commitment to environmental responsibility.
Arvind Pathak, Chief Executive Officer of Dangote Cement, expressed satisfaction with the results, attributing the growth to an uptick in economic activities. He stated, “Driven by an uptick in economic activities, our Nigerian operations witnessed a strong rebound, with volumes up 26.1 percent to 4.6Mt in the quarter.”
Pathak highlighted the positive performance of the company’s pan-Africa operations, which saw volumes increase by 3.1 percent to 2.7Mt, driven by heightened sales in Zambia and Congo.
Despite challenges such as elevated cost pressures and increased borrowing costs, Dangote Cement’s first-quarter results underscore its resilience in navigating a dynamic business environment while delivering value to stakeholders.
The company intensified its focus on exports during the quarter, dispatching seven ships from Nigeria to Ghana and Cameroon. Nigerian exports surged by 87.2 percent, reflecting Dangote Cement’s commitment to expanding its presence in regional markets and implementing an export-to-import strategy.
Pathak reaffirmed the company’s commitment to innovation, cleaner energy transition, and cost leadership, stating, “We continue to prioritize innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future.”
Dangote Cement, Africa’s leading cement producer, boasts a production capacity of 52.0 million metric tonnes per annum (Mta) across the continent. With fully integrated operations from quarry to customer, the company plays a pivotal role in Africa’s infrastructure development.
The company’s operations span across various countries, including Cameroon, Congo, Ghana, Ethiopia, Senegal, Sierra Leone, South Africa, Tanzania, and Zambia.
