Dangote Cement records highest quarterly sales in Nigeria

Dangote Cement Plc has said its highest quarterly sales volume from Nigerian operations was recorded in the first three months of this year amid increase in housing infrastructure and commercial construction.

The cement producer, in a presentation ahead of its results conference call on Tuesday, put its sales volumes in Nigeria at 4.9 million metric tonnes in Q1 2021, with growth at 22.2 percent.

It said group revenues rose by 33.5 percent to N332.65 billion while profit after tax was up 48.1 per cent at N89.7 billion.

Dangote Cement said the revenue growth was supported by strong volume growth and lower discounts/rebates.

It said group EBITDA (earnings before interest, taxes, depreciation, and amortisation) was up 55.8 percent; Nigeria EBITDA rose by 52.7 percent owing to cost control and ramp-up of new and efficient Obajana Line 5, and pan-Africa EBITDA up 61.9 percent.

Dangote Cement said group volumes increased by 18.7 percent to 7.5Mt, supported by strong demand across all operations.

“Ramp-up of production at Obajana Line 5 enabled to meet Dangote share of the rapidly growing market demand in the quarter,” it added.