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
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