Dangote Cement declares N364.44bn profit in 2021 | Dailytrust

Dangote Cement declares N364.44bn profit in 2021

Dangote Cement
Dangote Cement

Dangote Cement sustained the upbeat it started the year with, recording a solid 33.8% y/y growth in revenue to N1.38tn in FY 2021 from N1.03trn in FY 2020.

In its financials for full-year ended December 31, 2021, Group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020, which constituted 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).

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