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Dangote Cement Posts N82.542 Billion Profit in Q3, 2020

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Dangote Cement - Investors King

Dangote Cement Declares N82.542 Billion Profit After Tax in Q3, 2020

Dangote Cement Plc, a leading cement manufacturer in Africa, declared a profit after tax of N82.542 billion for the third quarter ended September 30, 2020.

In the unaudited financial statements filed with the Nigerian Stock Exchange, the company recorded N284.592 billion in revenue, higher than the N212.061 billion posted in the third quarter of 2019.

Dangote Cement declared N169.472 billion gross profit after spending N115.120 billion as the cost of sales.

The cement manufacturer almost doubled the N60.986 billion profit from operating activities it achieved in the corresponding period of 2019. It posted a N114.449 billion profit from operating activities in the third quarter of 2020.

Profit before tax rose nearly 200 percent from N42.192 billion in the third quarter of 2019 to N109.109 billion in the third quarter of 2020.

Similarly, Dangote Cement grew profit after tax from N35.110 billion in the same period of 2019 to N82.542 billion in the third quarter of 2020.

Michel Puchercos, the Group Chief Executive Officer, Dangote Cement, said the company sold 19.21 million tonnes for the nine-month ended September 30, 2020, representing 6.6 percent more than the 18.02 million tonnes sold in 2019.

Speaking on the company’s nine months performance, Mr Puchercos, said: “The Cement Group’s revenue went up by 12 per cent to N761.4 billion compared to N679.8 billion in 2019 with domestic operations accounting for N535.51 billion which compared to N467.88 billion up by 14.5 per cent. Pan-Africa operations contributed N232.61 indicating a 9.1 percent increase over N213.20 billion in 2019.

“Despite a challenging environment, Group volumes for the nine months were up by 6.6 per cent and group EBITDA was up 17.1 per cent, at a 46.6 per cent margin.

“This quarter has really shown the ability of Dangote Cement to meet the strong recovery of the cement market in Nigeria and Pan-Africa after a challenging Q2. In Nigeria, we have witnessed a strong appetite for real estate investment and the recovery of infrastructure spending, including more concrete roads.

“Sales volumes in Nigeria were up 40 per cent in the quarter and Pan-Africa reached a record high EBITDA margin of 24 per cent in the quarter.

“We continue to focus on our export strategy and are on track to ensure West and Central Africa become cement and clinker independent, with Nigeria as the main supply hub. Clinker exports have steadily been ramping up in Q3 after our maiden shipment in June 2020, whilst land exports have also resumed,” he said.

“In the period under consideration, Dangote Cement has exported 7 clinker vessels from Nigeria via the Apapa export terminal, while plans are on track to commission the Port Harcourt export terminal before the end of the year,” he added.

Mr Puchercos said: “Dangote Cement’s strategy to offer high quality products at competitive prices is meeting customers’ expectations in Nigeria and across the continent, where we continue to deploy excellent marketing initiatives and operational excellence.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Dividends

Total Nigeria to Pay N1.358 Billion Interim Dividend in H1 2021

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Dividend - Investors King

Following a strong positive first half (H1) of the year results, Total Nigeria Plc has proposed to pay a total sum of N1.358 billion in interim dividend for the period ended June 30, 2021.

The amount represents an interim dividend of N4 per 50 kobo ordinary share, according to the statement signed by Bunmi Popoola-Mordi, Company Secretary, Total Nigeria Plc.

Dividends, subject to appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 13th of August, 2021.

On payment, the company said dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 13th of August, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

The Register of Shareholders will be closed from Monday the 16th Day of August, 2021 to Friday the 20th Day of August, 2021.

However, shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, also available on the company’s Registrars website: https://cardinalstoneregistrars.com/wpcontent/uploads/2017/11/EDMMS-Upload-Form.pdf complete and submit to the Registrar or their respective Banks.

Total Nigeria grew profit after tax by 1,601 percent from -N537.188 million posted in the first half of 2020 to N8.1 billion in the first half of 2021.

At the just concluded Annual General Meeting, Stanislas Mittelman, the chairman of Total Nigeria, said: “We are in an era of transformation, Total’s new ambition is to achieve net zero emissions by 2050 together with the society.”

This, he said, “is in consonance with the federal government of Nigeria’s national gas expansion programme. Going forward, the federal government has announced that compressed natural gas, liquefied petroleum gas and liquefied natural gas are expected to be the fuel of choice for many government-owned cars.”

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Nigerian Stock Exchange

Total, Dangote Cement, Oando Bolster Stock Market on Thursday

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited closed in the green on Thursday following renewed interest in the shares of Total, Cutix, Oando, Dangote Cement and others.

Investors transacted 203,110,772 shares worth N1.724 billion in 3,969 deals during the trading hours of Thursday.

Market capitalisation of listed stocks improved to N20.104 trillion while the Nigerian Exchange Limited (NGX) All-Share Index rose by 1.67 percent to 38,585.52 index points.

Total led gainers with N16.80 or 10 percent to settle at N184.80 after posting a 1601 percent jump in profit after tax for the first half of 2021. Cutix and Oando trailed Total with 9.77 percent and 9.73 percent, respectively. See the details below.

Top Gainers 

Symbols Last Close Current Change %Change
TOTAL N 168.00 N 184.80 16.80 10.00 %
CUTIX N 3.99 N 4.38 0.39 9.77 %
OANDO N 3.29 N 3.61 0.32 9.73 %
DANGCEM N 230.00 N 248.00 18.00 7.83 %
COURTVILLE N 0.22 N 0.23 0.01 4.55 %

Top Loses

Symbols Last Close Current Change %Change
AIICO N 1.15 N 1.05 -0.10 -8.70 %
SOVRENINS N 0.31 N 0.29 -0.02 -6.45 %
VERITASKAP N 0.25 N 0.24 -0.01 -4.00 %
LIVESTOCK N 1.97 N 1.90 -0.07 -3.55 %
ARDOVA N 15.50 N 15.00 -0.50 -3.23 %

Top Trades

Symbols Volume Value
STERLNBANK 22486587.00 33803335.32
UCAP 16900746.00 115108129.76
FIDELITYBK 14062166.00 33687988.59
WEMABANK 13959610.00 12244069.82
GTCO 13300585.00 392121611.75

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Bonds

C&I Leasing Plc Lists N10 Billion Senior Secured Fixed Rate Bonds on Nigerian Exchange Limited (NGX)

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C&I Leasing - Investors King

C&I Leasing Plc has listed N10 billion 7 years 15.5 percent Senior Secured Fixed Rate Bonds due 2028 on the Nigerian Exchange Limited (NGX).

The bonds issued under the company’s N20 billion bond issuance programme has series number two (2) and 10,000,000 at N1,000 par value.

See the remaining details below.

Issuer – C & I Leasing Plc
Security Name – 15.5% CIL JUN 2028
Symbol Code – CIL2028S2
ISIN Code – NGCIL2028S16
Bond Description – 7 Year 15.5% Senior Secured Fixed Rate Bonds Due 2028
Program Amount – N20,000,000,000
Series Number – Two (2)
Volume – 10,000,000
Par value – N1,000
Series Amount – N10,000,000,000
Price – 100% at par
Coupon – 15.5%
Issue Date – 3 June 2021
Maturity Date – 3 June 2028
Tenor – 7 years
Coupon Commencement Date – Coupon shall accrue from the Issue date

Coupon Basis – Fixed rate
Book Building Opened – 21 April 2021
Book Building Closed – 17 May 2021
Stockbrokers  are Apel Asset Limited, Bestworth Assets & Trust Limited and Cordros Securities Limited.

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