Dangote Cement Posts Higher H1 Profit as Nigerian Exports Jump 62%

Dangote Cement simulated ₦613.23 ▼0.52% Plc reported a 22.7% increase in profit after tax for the first half of 2026, supported by higher sales volumes, strong demand across its key markets and a sharp rise in Nigerian exports.

The cement producer said after-tax profit climbed to N638.5 billion in the six months ended June 30, while group revenue rose 21.4% to N2.51 trillion. Earnings per share increased by 24.3% to N38.22.

Group earnings before interest, taxes, depreciation and amortisation rose 25.8% to N1.19 trillion. EBITDA from the company’s Nigerian operations advanced 28.4% to N1.09 trillion.

Chief Executive Officer Arvind Pathak attributed the performance to improved sales volumes, disciplined execution, prudent cost management and sustained demand.

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

Dangote Cement’s export business also recorded significant growth during the period, with volumes shipped from Nigeria rising 62.3%. The company completed 20 clinker shipments to regional markets, reflecting growing demand across West Africa.

Pathak said the export growth further strengthened Nigeria’s position as a competitive manufacturing and export hub.

The company ended the period with a net cash position of N215.2 billion, with its cash balances exceeding total debt. Dangote Cement said the position would give it sufficient financial capacity to invest in future growth while maintaining disciplined capital allocation.

Meanwhile, construction and commissioning work at the company’s new six-million-tonne-per-annum Itori plant has reached an advanced stage. The project remains scheduled for completion before the end of 2026.

Once operational, the Itori plant is expected to expand the company’s production footprint and export capacity, bringing it closer to its target of achieving 80 million tonnes of installed annual production capacity by 2030.

Dangote Cement, Africa’s largest cement producer, currently has an installed production capacity of 55 million tonnes per annum across the continent.