Dangote Cement Swings to N215bn Net Cash After Slashing Debt by 46%

Dangote Cement Plc strengthened its balance sheet in the first half of 2026, moving from a net debt position of N682.9 billion at the end of 2025 to net cash of N215.2 billion by June.

The turnaround was driven by strong operating cash generation and the repayment of N500.3 billion in net loans during the six-month period.

Total debt dropped by 46.2 per cent to N581.44 billion in June from N1.08 trillion at the end of last year, it said in an earnings report on Thursday. 

Dangote Cement generated N1.18 trillion in cash from operations before changes in working capital. Following a net working-capital movement of N78.4 billion and tax payments of N43 billion, net cash flow from operating activities stood at N1.06 trillion.

Financing outflows, excluding overdrafts, amounted to N579.6 billion. This comprised N500.3 billion in net loan repayments, N76.8 billion in interest payments and N2.6 billion in lease payments.

Cash and cash equivalents, after accounting for movements in bank overdrafts, more than doubled to N764.9 billion at the end of June, compared with N362.6 billion as of December 31, 2025.