Dangote Cement Grows EPS by 24.3% as H1 Profit Hits N638.5bn

Dangote Cement Plc increased earnings attributable to shareholders in the first half of 2026, with earnings per share (EPS) rising by 24.3 per cent to N38.22, underpinned by a 22.7 per cent growth in profit after tax to N638.5 billion.

The cement maker’s unaudited financial results for the six months ended June 30, 2026, just release on the Nigerian Exchange Limited (NGX), showed that group revenue climbed 21.4 per cent year-on-year to N2.51 trillion from N2.07 trillion recorded in the corresponding period of 2025, driven by higher sales volumes and sustained demand across its key markets.

Profit before tax rose 34.4 per cent to N981.4 billion, while group earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 25.8 per cent to N1.19 trillion, representing an EBITDA margin of 47.3 per cent.

The Nigerian operation remained the company’s strongest earnings driver, posting a 28.4 per cent increase in EBITDA to N1.09 trillion and an EBITDA margin of 60.1 per cent, supported by a favourable energy mix and lower cash production costs.

Dangote Cement also strengthened its balance sheet during the period, closing the half year with a net cash position of N215.2 billion, with cash balances exceeding total debt.

Operationally, group cement volumes increased by 11.8 per cent to 14.9 million tonnes, while export volumes from Nigeria surged 62.3 per cent to 1.1 million tonnes.

During the period, the company dispatched 20 clinker shipments to Ghana, Cameroon and Côte d’Ivoire, reinforcing its position as a regional supplier.

Commenting on the results, the Chief Executive Officer of Dangote Cement, Arvind Pathak, said the company’s strong performance reflected the momentum built since the beginning of the year.

“Our performance in the first half of 2026 reflects the strong momentum we have continued to build since the start of the year. The business delivered another solid set of results, supported by higher sales volumes, disciplined execution, and sustained demand across our key markets,” he said.

Pathak said the combination of higher revenue, improved profitability and a stronger balance sheet demonstrated the resilience of the company’s business model.

“Group revenue rose 21.4 per cent to N2.51 trillion, driven by a strong rebound in volumes, while Group EBITDA grew 25.8 per cent to N1.19 trillion, with Nigeria EBITDA up 28.4 per cent to N1.09 trillion. Profit after tax reached N638.5 billion, up 22.7 per cent from the prior year, reflecting the resilience of our business model, prudent cost management, and our continued focus on operational efficiency.

“We also ended the period with a net cash position of N215.2 billion, with cash balances exceeding total debt. This reinforces the strength of our balance sheet and provides us with the financial capacity to invest in future growth while maintaining a disciplined approach to capital allocation.”

He said the company’s export strategy continued to gain momentum, with export volumes from Nigeria rising by 62.3 per cent during the period, supported by 20 clinker shipments to regional markets.

Pathak also disclosed that construction and commissioning activities at the company’s new six-million-tonne-per-annum Itori plant were at an advanced stage and remained on course for completion before the end of the year.

“Once operational, Itori will enhance our production footprint, expand our export capacity, and move us closer to achieving our long-term ambition of 80 million tonnes per annum in installed production capacity by 2030,” he said.

He added that favourable market fundamentals, strategic investments, operational excellence and continued cost discipline would position the company to sustain its growth trajectory and create lasting value for shareholders.