Dangote Cement Plc has released its unaudited financial results, reporting a pre-tax profit of N311.974 billion for the first quarter ended March 31, 2025.
The figure represents an 87.48% year-on-year (YoY) growth compared to N166.404 billion recorded in Q1 2024.
The company also posted a profit after tax of N209.245 billion, up 85.71% YoY, from N112.674 billion reported in the same period last year.
The performance also saw a revenue of N994.659 billion, marking a 21.69% YoY increase from the prior year.
The company’s production capacity remained at 52 million metric tons, though production volume declined by 7.41% YoY to 6.547 million tons, while sales volume fell by 6.72% to 6.569 million tons.
Revenue from the Nigerian segment rose significantly to N696.042 billion, increasing its contribution to group revenue from 55.41% in Q1 2024 to 69.98% in Q1 2025.
Conversely, Pan African revenue dropped by 15.37% YoY to N322.653 billion, reducing its share of group revenue to 32.44%.
On the cost side, fuel and power expenses, amounting to N177.193 billion, remained a key component of cost of sales.
However, cost of sales grew more slowly than revenue, which helped boost both gross profit and gross profit margin, now standing at 59%, up by 15 percentage points from Q1 2024.
Similarly, a moderate increase in overheads (up 7.7%) supported growth in operating profit, with the operating profit margin improving to 39.96%, compared to 31.23% in Q1 2024, a rise of 27.92%.
Haulage expenses continued to weigh heavily, accounting for over 60% of the N205.480 billion in administrative, selling, and distribution costs.
Finance costs rose only slightly, thanks to a significant drop in foreign exchange losses, from N63.765 billion in Q1 2024 to N17.472 billion. However, gross interest expenses remained high at N110.302 billion.
Key highlights (Q1 2025 v. Q1 2024):
· Revenue: N994.659 billion +21.69% YoY
· Cost of sales: N407.265 billion +2.29% YoY
· Gross profit: N587.394 billion +40.13% YoY
· Administrative expenses: N51.844 billion +13.86% YoY
· Selling and distribution expenses: N153.636 billion +5.77% YoY
· Operating profit: N397.419 billion +55.67% YoY
· Finance cost: N129.376 billion +4.99% YoY
· Basic EPS: N12.29 +83.98% YoY
· Cash and cash equivalents: N417.663 billion -7.15%.
· Total assets: N6.445 trillion +0.66%
The company’s total assets increased slightly to N6.445 trillion, showing a modest 0.66% growth.
