H1:2023 DANGCEM Earnings Note | FX Devaluation Erodes Bottom-Line Performance
Below is a detailed overview of Dangote Cement’s performance during the first half of 2023 (H1:2023). Higher Revenue Riding on Pricing Strategy Dangote Cement Plc. recently released its H1:2023 financial results, depicting a 17.67% Year-on-Year (YoY) growth in revenue to NGN950.83bn. This is amid a decline (-5.53% YoY to 13.4Mt) in sales volume during the […]
9M:2022 Nigerian Cement Sector Report: Sustaining Growth Amid Headwinds
In this report, we analyzed the Nigerian cement sector as well as the key players in the space. Competitive Landscape of the Nigerian Cement Industry The Nigerian cement sector is Oligopolistic, with three major cement producers leading the charge to cater for cement demand in the most populated country in Africa. Before the entry of […]
Dangote Cement Plc – Competition caps earnings growth
DANGCEM posted an impressive growth in EPS by 91% YoY to N22.9 (missing our estimate of N13.52) over 2018. The deviation from our estimate stemmed largely from the long-awaited tax credit (N89.52 billion) which included reversal of tax provisions (N134 billion) made on the Obajana 4 and Ibese 3 & 4 lines for 2015 – […]
