Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets

Dangote Cement joins MTN in the trillion-naira club, as 2020 revenue surpassed N1 trillion

Omokolade AjayibyOmokolade Ajayi
2 years ago
in Markets, Stock Market
Dangote Cement issues N50 billion series 4 & 5 commercial paper issuance closes today
Share on FacebookShare on TwitterShare on Linkedin

Leading cement manufacturer, Dangote Cement Plc (DCP) recently declared in its audited financial statement for the financial year 2020, a record high revenue of N1.03 trillion, making it the second Nigerian listed entity after MTN to surpass the N1 trillion mark.

The cement behemoth’s revenue expanded by 16% year-on-year to N1.03 trillion, with about N720bn of the revenue generated from its operations in Nigeria, while its Pan-Africa operations generated about N320 bn revenue in 2020.

The strong top-line growth was supported by strong cement demand, driven by the strong appetite for real estate investment and the recovery of infrastructure spending – including more concrete roads.

READ: Dangote Cement gains N133 billion, as shares increase in value by 3.6%

  • Sales volume for both cement and clinker products increased by 8.9%, driven by the resurgence in demand in the third quarter and fourth quarter of 2020.
  • The company’s profit surged by 37.9% year-on-year to N276.1 bn.
  • Dangote Cement Plc announced a N16.00 per share dividend, driven by the increase in profits and cash flow generated from operations.
  • The cement company generated a net cash flow of N511.89 bn from its operating activities higher than 2019 figures (N426.12 bn).
  • The cement behemoth repurchased 0.24% or 40,200,000 units of the company’s issued and fully paid ordinary share, at N9.77 bn.

READ: Abdulsamad Rabiu’s stake in BUA Cement has increased by N1.2 trillion in value since listing in 2020

Dangote Cement experienced its strongest year in terms of volumes and EBITDA, as the Group’s Earnings Before Interest, Taxation, Depreciation, and Amortization increased by 20.9% to ₦478.1 bn, despite a challenging environment.

The company’s strong margin driven by its cost control measures and minimal exposure of its cost base to currency fluctuations resulted in a 37.9% surge in profit to N276.1 bn.

What they are saying

Commenting on the Dangote Cement’s financial performance in 2020, Michel Puchercos, the Group Chief Executive Officer of the leading cement maker, said:

“I am delighted to report that Dangote Cement experienced its strongest year in terms of EBITDA and strongest year in terms of volumes. Despite a challenging environment, Group volumes for the year were up 8.6% and Group EBITDA was up 20.9%, at a 46.2% margin.”

READ: Dangote Cement proposes N272 billion as dividend for 2020

“Despite the impact of the COVID-19 pandemic, 2020 was a record year for Dangote Cement across the board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance, and successful buyback programme.”

In his statement on key expansion in 2020 in the company’s installed production capacity, Pucheros said:

“We increased our capacity by 3Mt in Nigeria, and commissioned our two export terminals, and commissioned our gas power plant in Tanzania. All this was achieved whilst we focused on protecting our people, customers, and communities from the impact of the pandemic.”

In line with this move, Dangote Cement’s production capacity expanded from 45.55 million mtpa to 48.55 million mtpa, cementing the company’s status further as the largest cement manufacturer in the African continent.

Related

Tags: Dangote Cement Plc (DCP)MTN

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 
  • Girl Child: Nurturing Our Women, Nigeria’s Own Wealth
  • Nigeria investing heavily in food, packaging and plastics technology

Follow us on social media:

Recent News

Naira, fuel scarcity: Lagos announces 50% transport fare reduction for BRT, LAGRIDE, others, sets up Food bank

Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 

February 8, 2023
GIrl child

Girl Child: Nurturing Our Women, Nigeria’s Own Wealth

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics