Dangote Cement (DANGCEM) Q1 2026 earnings summary

Executive summary

• Group revenue rose 20.4% year-over-year to ₦1,198.0B, driven by a 13.8% increase in volumes to 7.5Mt across markets.

• EBITDA increased 22.8% to ₦567.1B, with a margin of 47.3%, reflecting improved margins and operational efficiency.

• Profit after tax surged 53.5% to ₦321.1B, and EPS climbed 55.7% to ₦19.14.

• Nigerian export volumes jumped 71.6%, with 10 clinker shipments dispatched to Ghana and Cameroon.

• Expansion projects in Côte d'Ivoire, Itori, and Ethiopia are progressing, supporting the goal of 80Mt capacity by 2030.

Financial highlights

• Nigeria revenue up 23.8% to ₦861.8B; Pan-Africa revenue up 14.7% to ₦370.0B.

• Group EBITDA up 22.8% to ₦567.1B; Nigeria EBITDA up 33.1% to ₦525.3B (61.0% margin); Pan-Africa EBITDA down 22.5% to ₦59.3B (16.0% margin).

• Operating profit increased 27.4% to ₦506.2B; net profit up 53.5% to ₦321.1B.

• Total assets at ₦6,035.0B as of March 2026; net debt reduced to ₦114.0B.

Outlook and guidance

• Demand across markets remains resilient, with expansion pipeline and operational discipline expected to sustain growth.

• Targeting 80Mt production capacity by 2030 through ongoing investments.