Finance
Dangote Cement Reaffirms Its Leadership, Grows Revenue to N891.7 Billion
Dangote Cement Reports N891.7 Billion Revenue for 2019
Dangote Cement Plc, a leading cement manufacturer in Sub-Saharan Africa with operations in ten countries, on Friday released its combined annual report for 2019.
In the combined Annual Report and Sustainability Report, the revenue of the company dropped by 1.1 percent from N901.2 billion in 2018 to N891.7 billion in 2019. This was higher than the N805.6 billion achieved in 2017.
Dangote Cement grew sales volumes by 0.6 percent to 23.7 metric tonnes in 2019, up from 21.9 metric tonnes in 2017 and 23.5 metric tonnes in 2018, respectively.
A breakdown of the company’s report shows Nigeria’s sales volume was flat at 14.1 metric tonnes while Pan Africa’s sales volume was up by 1.9 percent to 9.6 metric tonnes.
During the year under review, the cement manufacturing company posted strong volume growth in Tanzania and Sierra loan and maintained a strong market share in Africa’s largest economy, Nigeria.
The company’s dividend remained strong at N16 per share, the same as the N16 posted in 2018 but almost 50 percent higher than the N10.50 achieved in 2017.
With 45.6 metric tonnes installed capacity and operations in 10 African countries, Dangote Cement pride itself as a global leader.
Speaking on the company’s performance, Aliko Dangote, Chairman, Dangote Cement Plc, said “Our commitment is further demonstrated in the enthusiasm with which we continue to operationalise our 7 Dangote Sustainability Pillars, which collectively reflect the ethos behind the Dangote way.”
The 7 Sustainability Pillars are Cultural, Economic, Operational, Social, Environmental, Financial and Institutional.
In Nigeria, Dangote Cement has around 55 percent market share with 29.3 metric tonnes per annum capacity. In Tanzania, the company’s market share was estimated at 21 percent with 3 metric tonnes per annum.
In Ethiopia, Cameroon, Sierra Leon, Senegal and Zambia Dangote Cement controls 26 percent with 2.5Mta; 39 percent with 1.5Mta; 35 percent with 0.5Mta; 23 percent with 1.5Mta and 28 percent with 1.5Mta, respectively.