Dangote Cement (DANGCEM) Q2 2025 earnings summary

Executive summary

• Group revenue rose 17.7% year-over-year to ₦2,071.6 billion for H1 2025, driven by improved pricing and cost efficiencies.

• EBITDA increased 41.8% to ₦944.9 billion, with margin expansion to 45.6%.

• PAT surged 174.1% to ₦520.5 billion, and EPS climbed to ₦30.74.

• Nigeria operations delivered robust growth, while Pan-African markets faced volume and revenue declines due to election uncertainties and liquidity constraints.

• Total comprehensive income for the period was ₦545.3 billion.

Financial highlights

• Group revenue up 17.7% year-over-year to ₦2,071.6 billion; gross profit up 31.4% to ₦1,218.0 billion.

• EBITDA up 41.8% to ₦944.9 billion; EBITDA margin improved by 7.8pp to 45.6%.

• PAT up 174.1% to ₦520.5 billion; EPS up to ₦30.74.

• Net cash from operations reached ₦933 billion in H1 2025.

• Dividend of ₦502.6 billion paid to shareholders.

Outlook and guidance

• Ongoing investments in alternative fuels, CNG trucks, and property, plant, and equipment, with ₦166.3 billion capex in H1 2025.

• Expansion of export capacity, including new grinding plant in Côte d'Ivoire and plans to double Ethiopia plant.

• Continued focus on sustainability, targeting a 20% reduction in Scope 1 CO2 emissions by 2030.

• Management maintains focus on operational efficiency and expansion in both Nigeria and Pan Africa segments.