Audited results for the year ended 31st December 2015
Dividend up 33% to ₦8.0 per share; price reduction drives strong Q4 recovery in Nigerian market; strong performances in all new territories prove success of expansion plan; strong cash generation funds capex and dividend, reduces net debt to 0.78x EBITDA
Lagos, 1st March 2016: Dangote Cement PLC (DANGCEM-NL), Nigeria’s largest cement producer, announces Audited results for the year ended 31st December 2015.
Financial highlights
- Revenue up 25.6% to ₦491.7B as new plants perform strongly across Africa
- EBITDA up 17.5% to ₦262.4B at 53.4% margin
- All plants profitable across Africa
- Earnings per share up 15.2% to ₦10.86
- Dividend up 33.3% to ₦8.0 per share at 73.7% payout ratio
- Strong cash generation funds dividend and capex, net debt falls to ₦204.2B (0.78x EBITDA)
Operating highlights
- Group cement volumes up 35% to nearly 19 million tonnes
- Price reduction drives strong rebound in Nigerian market; Q4 volumes up 36%,
full-year volumes up 3.2% despite severe economic challenges - Excellent entries in all new countries, gaining share from incumbents
- Senegal, Ethiopia sell approximately 1 million tonnes each
- NSE Premium Listing reflects strong corporate governance
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.
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