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Dangote Cement has reported 15.2 percent increase in its pan-African volume in the nine months ended September 30, 2023, recording 8.5Mt, up from 7.4Mt in the corresponding period in 2022.A review of the cement group’s unaudited results released on the portals of the Nigerian Exchange , shows the volumes were driven by sales from Senegal which posted 66.9 percent increase and Congo which reported an increase of 60.5 percent.
Dangote Cement Zambia recorded 18 percent increase, Ghana 15.5 percent, South Africa 18.5 percent, Ethiopia, and Tanzania 6.5 percent respectively. The cement group stated that its Profit Before Tax rose by 20.5 percent, from N335.9 billion to N404.89 billion while Profit After Tax rose from N213.10 billion to N277.55 billion indicating an increase of 30.2 percent.
In a statement on the results, Chief Executive Officer, Dangote Cement, Arvind Pathak, said, “this positive nine-months result is a combination of our strong value proposition, improved operational efficiency and a sustained drive to contain cost amidst an accelerating inflationary environment. We achieved double-digit growth in Group revenue at N1,514.6B, while EBITDA rose to an all-time high of N662.8B, up 28.5 percent.
“Looking ahead, we are at the final stage in the completion of our 1.5Mta grinding plant in Cote d’Ivoire, having commissioned our 0.45Mta Takoradi plant in the first half of the year. We are focused on improving our value proposition, anchored on our promise to deliver strong and superior cement to our unwavering customers. I am very pleased with the direction of our business and confident we will finish the year strong.
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