Dangote Cement Grows H1 Profit by 23% as Revenue Tops N2.5 Trillion

Dangote Cement Plc delivered a strong financial performance in the first half (H1) of 2026, reporting double-digit growth in revenue, profit and sales volumes as improved operational efficiency, stronger export activity and higher demand across key markets boosted earnings.

According to the company’s unaudited results for the six months ended June 30, 2026, group revenue increased by 21.4 percent to N2.51 trillion, compared with the corresponding period of 2025.

Operating profitability also improved with group EBITDA rising 25.8 percent to N1.19 trillion, representing an EBITDA margin of 47.3 percent.

The Nigerian business remained the primary earnings driver as Nigeria EBITDA climbed 28.4 percent to N1.09 trillion, while the domestic EBITDA margin strengthened to 60.1 percent.

Profit after tax advanced 22.7 percent year-on-year to N638.5 billion, while earnings per share increased 24.3 percent to N38.22, indicating improved shareholder returns.

The company also maintained a strong balance sheet, ending the period with a net cash position of N215.2 billion with cash holdings exceeding total borrowings.

Operationally, Dangote Cement recorded a solid recovery in sales volumes across its African operations. Group cement volumes rose 11.8 percent to 14.9 million tonnes, supported by stronger demand in several of its operating markets.

The company’s regional export strategy also gathered momentum during the period. Cement and clinker exports from Nigeria surged 62.3 percent to 1.1 million tonnes, while 20 clinker shipments were delivered to Ghana, Cameroon and Côte d’Ivoire.

Dangote Cement also reported lower production costs in Nigeria following improvements in its energy mix, while continuing investments aimed at enhancing operational efficiency across its African businesses.

During the review period, the company commissioned a mobile refuelling unit at its Okpella plant to improve logistics efficiency, while 300 compressed natural gas (CNG) trucks were deployed in Tanzania to support cleaner and more cost-effective transportation.

Commenting on the results, Group Chief Executive Officer Arvind Pathak said the performance reflected sustained commercial momentum, higher sales volumes and disciplined execution despite the evolving operating environment.

He said the company’s strong cash position provides sufficient financial flexibility to fund future expansion projects while maintaining prudent capital allocation.

Pathak noted that export growth continues to validate Dangote Cement’s regional strategy, with rising demand from neighbouring West African markets strengthening Nigeria’s role as a major supplier of cement and clinker.

He also disclosed that construction of the company’s 6 million tonnes per annum (Mtpa) Itori cement plant is at an advanced stage and remains on schedule for completion before the end of 2026.

Once commissioned, the Itori facility is expected to expand Dangote Cement’s production capacity, strengthen export capability and support its long-term objective of increasing installed production capacity to 80 million tonnes per annum by 2030.

Looking ahead, management expressed confidence that favourable market conditions, ongoing investments and continued focus on operational excellence and cost efficiency will support sustained growth and long-term value creation for shareholders.