By Ismail Auwal
Dangote Cement Plc has declared a N538.37 billion gross profit and a N364.44 billion after-tax profit for 2021.
Africa’s largest cement manufacturer maintained its positive outlook for the year, increasing revenue by 33.8 percent year on year to N1.38 trillion in fiscal year 2021 from N1.03 trillion in fiscal year 2020.
Michel Purchecos, Group Chief Executive Officer of Dangote Cement Plc, said that the management was pleased to report the company’s performance for the first nine months of the year.
The company reported Group sales volume of 29.3Mt for the fiscal year ended December 31, 2021, with Nigeria accounting for 18.61Mt and operations in other countries accounting for 10.86Mt.
For the full year, group revenue was N1,383.6 billion, with N993.34 billion from Nigeria and N397.32 billion from other African plants, compared to N1,034.20 billion in 2020, with N719.95 billion from Nigeria and N318.68 billion from other African operations.
Dangote Cement recorded a gross profit of N538.37 billion and an after-tax profit of N364.44 billion.
Specifically, revenue from the Nigerian operations increased by 38.7% y/y to N993.4bn in FY 2021 on the back of higher realised prices (+18.1% y/y) and strong volume growth (+16.8% y/y).
Similarly, for the Pan African region, revenue increased by 24.7% y/y to N397.3bn in FY 2021 owing to the better price per tonne (+14.6% y/y) and volume growth (+8.8% y/y).
