Management of Dangote Cement Plc has revealed that the Company dispatched Seven Ships of Clinker from Nigeria to Ghana and Cameron and that the export, for the first quarter of 2024 increased by 87. 2 per cent at 264kt.
While the company commissioned 10 of the 17 Alternative fuel projects across the Group, the local demand for cement in the same period under review in Nigeria increased significantly by 26.1 per cent to 12.3 per cent to 7. 0 Mt for the first quarter of 2024.
Chief Executive Officer of Dangote Cement, Arvind Pathar in his Comments on the first quarter result, said “During the quarter, we exports, dispatching 7 Ships from Nigeria to Ghana and Cameron. As a result, our Nigerian exports surged by 87.2 per cent, reflecting our commitment to expanding our presence in regional markets and capitalising on our export to import strategy.
“We continue to prioritise innovation, cleaner energy transition towards achieving on vision of transforming Africa and building a sustainable future”
The company recorded a Group revenue of 817. 4 billion naira, even as profit after tax inched up by 2.9 per cent to 112.7 billion naira Earning Per Share closed the quarter at 6.68 naira representing an increase of 3.7 per cent. As part of its sustainability programme, Dangote Cement Commissioned ten of the 17 Alternative fuel projects across the Group.
The Chief Executive Officer, Dangote Cement, Arvind Pathar on the results disclosed that “Driven by uptick in economic activities. Our Nigerian Operations witnessed a strong rebound, with volumes up 26.1 per cent to 4.6 Mt in operations continued an upward trajectory with volumes up 3.1 per cent to 2.7 Mt buoyed by Increased Sales in Zambia and Congo. Despite elevated cost, and a further currency weakening, our first – quarter of results reflect our commitment to navigating clinker gas effectively.
He added, “Group revenue more than double to 817.4 billion naira, while Group EBITDA ross 66.6 per cent to 309.5 billion After Tax was up 2.9 per cent at 112.7 billion naira. These results underscore our ability to adopt and thrive in a dynamic business environment while delivering value to our stakeholders.
We continues to prioritising innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future.
Dangote Cement is Africa’s Leading Cement Producer with 52.0 Mta Capacity across Africa. A fully Integrated quarry – to – Customer – Producer.
Dangote Cement has production capacity of 35.25 Mta in Nigeria. Obajana Plant in Kogi State Nigeria is the Largest in Africa with 16.25 Mta of capacity across five lines. Ibese Plant in Ogun State has four Cement lines with combined install capacity of 12 Mta; Gboko Plant in Benue has 4 Mta, and Okpella Plant in Edo State has 3 Mta.
Though recent Investigations, Dangote Cement has eliminates Nigeria’s dependence on imported cement and has transformed the nation into an exporter cement to neighbouring Countries.
In addition, the company has operation in Cameroon ( 1.5 Mta Clinker grinding), Congo ( 1.5 Mta), Ghana 2.0 Mta Clinker grinding and import. Ethiopia ( 2.5 Mta), Senegal ( 1.5 Mta), Sierra Leone (0.5 Mta Import), South – Africa ( 2.8 Mta), Tanzania (3.0 Mta), Zambia ( 1.5 Mta).
