Q2 2022: Dangote Cement Records 17% Increase In Revenue Growth

Dangote Cement  Plc has released its financial result for the year ended June 31, 2022, which shows that the company recorded a group revenue of N808 billion for the half year, indicating a 17 per cent, compared to N690.55 billion recorded in 2021.

Michel Puchercos, the Chief Executive Officer, Dangote Cement, speaking on the result said, “Despite the elevated inflation due to a very volatile global environment, the first half of 2022 has been positive.

"We recorded increases in revenue and EBITDA that drove strong cash generation across the Group.

“We recorded revenue of N808.0 billion up 17 per cent compared to last year and Group EBITDA of N373.2 billion, up 6.3 per cent with an EBITDA margin of 46.2 per cent.”

Puchercos explained that a significant increase in energy and AGO costs were impacting negatively the production and supply of cement products.

“To drive consumer engagement and support demand ahead of the rainy season; we have commenced the third season of our National Consumer Promotion – Bag of Goodies 3.

"On the operational side, we are ramping up production at our Okpella plant and are progressing well to deploy grinding plants in Ghana and Cote d’Ivoire.

“Our continuous focus on efficiency, meeting market demand, and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders,” he said.