Dangote Cement Plc reported a 31.2 per cent increase in net profit for the first nine months of the year, driven by higher sales volumes and lower financing costs.
Sub-Saharan Africa’s largest cement producer said profit after tax reached ₦974.8 billion ($714 million) for the period ended September 30, up from ₦743.3 billion a year earlier. Revenue climbed 19.6 per cent to ₦3.8 trillion, supported by strong demand across Nigerian and regional markets.
Growth accelerated sharply in the third quarter, with net income surging 51 per cent year-on-year to ₦336.3 billion.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose to ₦1.8 trillion from ₦1.4 trillion. Profit before tax advanced 41.5 per cent to ₦1.5 trillion.
A key driver of the bottom-line growth was a reduction in financing expenses. Dangote Cement cut finance costs to ₦120.8 billion down from ₦286 billion, easing pressure from interest payments that weighed heavily on previous financial years.
Group cement sales volume rose 9 per cent to 22.1 million tonnes. Domestic sales in Nigeria reached 14.1 million tonnes, representing a 6.4 per cent increase.
Operations outside Nigeria expanded faster, selling 9.1 million tonnes—a 14 per cent jump. Strong performances in Senegal, Ethiopia and Tanzania bolstered regional revenues. Exports of cement and clinker from Nigeria also grew 41.8 per cent to 1.5 million tonnes.
The solid financial results come as the manufacturing giant, controlled by billionaire Aliko Dangote, advances plans for a potential secondary listing in London. FTSE Russell recently added Dangote Cement to its Frontier Index Series.
Construction is also underway on the first phase of a 6 million-tonne-per-year plant at Itori in Ogun State. That facility is on track for commissioning in 2027 as part of a broader push to expand total production capacity to 80 million tonnes.