Dangote Cement Plc has announced its unaudited financial results for the first quarter ended March 31, 2025, reporting a pre-tax profit of ₦311.974 billion.
This represents a strong 87.48% year-on-year (YoY) increase compared to the ₦166.404 billion recorded in Q1 2024.
The company’s profit after tax also climbed sharply to ₦209.245 billion, an 85.71% YoY rise from the ₦112.674 billion achieved in the same period last year.
Revenue grew to ₦994.659 billion, reflecting a 21.69% improvement compared to the prior year.
Although production capacity remained steady at 52 million metric tons, production volume dipped by 7.41% YoY to 6.547 million tons, while sales volume slipped by 6.72% to 6.569 million tons.
Revenue from the Nigerian market soared to ₦696.042 billion, increasing its contribution to group revenue from 55.41% in Q1 2024 to 69.98% in Q1 2025.
Meanwhile, Pan-African revenue fell by 15.37% YoY to ₦322.653 billion, reducing its share of total group revenue to 32.44%.
Fuel and power costs, a significant element of the cost structure, stood at ₦177.193 billion.
Nevertheless, because cost of sales grew at a slower pace than revenue, gross profit and gross margin improved, with gross margin rising to 59%, a 15 percentage-point increase from Q1 2024.
Operating profit also benefited from this dynamic. A moderate 7.7% rise in overheads supported an increase in operating profit margin to 39.96%, up from 31.23% in Q1 2024, representing a 27.92% improvement.
Haulage expenses remained substantial, accounting for more than 60% of the ₦205.480 billion recorded in administrative, selling, and distribution costs.
Finance costs rose only slightly, thanks largely to a significant reduction in foreign exchange losses, which dropped from ₦63.765 billion in Q1 2024 to ₦17.472 billion. However, gross interest expenses stayed elevated at ₦110.302 billion.
Key Highlights (Q1 2025 vs. Q1 2024):
– Revenue: ₦994.659 billion (+21.69% YoY)
– Cost of sales: ₦407.265 billion (+2.29% YoY)
– Gross profit: ₦587.394 billion (+40.13% YoY)
– Administrative expenses: ₦51.844 billion (+13.86% YoY)
– Selling and distribution expenses: ₦153.636 billion (+5.77% YoY)
– Operating profit: ₦397.419 billion (+55.67% YoY)
– Finance cost: ₦129.376 billion (+4.99% YoY)
– Basic EPS: ₦12.29 (+83.98% YoY)
– Cash and cash equivalents: ₦417.663 billion (-7.15%)
– Total assets: ₦6.445 trillion (+0.66%)
Total assets saw a slight rise to ₦6.445 trillion, indicating a modest 0.66% growth year-on-year.
