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Dangote Cement Plc has published its unaudited financial results, reporting a pre-tax profit of ₦311.974 billion for the first quarter ended March 31, 2025.
This represents an 87.48% year-on-year (YoY) increase compared to the ₦166.404 billion recorded in Q1 2024.
The company also posted a profit after tax of ₦209.245 billion, up 85.71% YoY from ₦112.674 billion in the same period last year.
Revenue rose to ₦994.659 billion, reflecting a 21.69% increase compared to the prior year.
Despite production capacity remaining at 52 million metric tonnes, production volume declined by 7.41% YoY to 6.547 million tonnes, with sales volume dropping by 6.72% to 6.569 million tonnes.
Revenue from the Nigerian market surged to ₦696.042 billion, raising its share of group revenue from 55.41% in Q1 2024 to 69.98% in Q1 2025.
Conversely, Pan-African revenue declined by 15.37% YoY to ₦322.653 billion, reducing its contribution to group revenue to 32.44%.
Fuel and power costs, amounting to ₦177.193 billion, continued to be a major component of cost of sales.
However, as cost of sales grew more slowly than revenue, gross profit and gross profit margin improved, with the latter rising to 59%, a 15-percentage-point increase from Q1 2024.
Similarly, modest growth in overheads (up 7.7%) supported operating profit growth, with the operating margin improving to 39.96%, up from 31.23% in Q1 2024.
Haulage costs remained substantial, comprising over 60% of the ₦205.480 billion spent on administrative, selling, and distribution expenses.
Finance costs rose slightly, aided by a sharp fall in foreign exchange losses—from ₦63.765 billion in Q1 2024 to ₦17.472 billion. However, gross interest expenses remained high at ₦110.302 billion.
Key Highlights (Q1 2025 vs. Q1 2024):
- Revenue: ₦994.659 billion (+21.69% YoY)
- Cost of Sales: ₦407.265 billion (+2.29% YoY)
- Gross Profit: ₦587.394 billion (+40.13% YoY)
- Administrative Expenses: ₦51.844 billion (+13.86% YoY)
- Selling & Distribution Expenses: ₦153.636 billion (+5.77% YoY)
- Operating Profit: ₦397.419 billion (+55.67% YoY)
- Finance Cost: ₦129.376 billion (+4.99% YoY)
- Basic EPS: ₦12.29 (+83.98% YoY)
- Cash & Cash Equivalents: ₦417.663 billion (-7.15%)
- Total Assets: ₦6.445 trillion (+0.66%)
