Dangote Cement revenue hits N2tn on strong local demand

Dangote Cement Plc, Africa's largest cement manufacturer, has announced a robust financial performance for the first half of 2026, with group revenue reaching N2.514 trillion. This figure represents a significant 21.35% increase compared to the N2.072 trillion recorded in the same period of 2025, driven by sustained local demand and strong operational efficiency across its key African markets.

The company's domestic operations were the primary growth engine, generating N1.805 trillion in revenue, a 25.17% rise from the first half of 2025. Nigerian sales accounted for 9.70 million metric tons of the group's total 14.94 million metric tons sold, contributing N1.086 trillion to earnings before interest, taxes, depreciation, and amortisation (EBITDA). Pan-African operations also showed steady growth, contributing N775.35 billion in revenue and N136.57 billion to group EBITDA.

This strong top-line expansion translated into enhanced profitability across all metrics. Gross profit climbed 30.51% to N1.590 trillion, while operating profit increased by 30.66% to N1.060 trillion. A notable factor contributing to profit growth was a significant reduction in net finance costs, which fell to N112.11 billion from N216.16 billion, easing foreign exchange losses and interest charges. Consequently, profit before tax surged 34.43% to N981.39 billion, with net income rising 22.69% to N638.53 billion.

Despite operational and macroeconomic pressures, Dangote Cement managed to contain cost increases below revenue growth. Total production cost of sales rose 8.29% to N924.31 billion, with fuel, power, and raw material costs being key components. Selling and administrative expenses also saw an increase, particularly haulage costs, due to energy and logistics challenges. The company's overall balance sheet expanded, with total assets increasing 9.62% to N6.622 trillion and net assets growing 21.00% to N3.170 trillion, positioning the firm favorably for investor confidence.