Dangote Cement Plc has reported a profit after tax of ₦743.3 billion for the nine months ending September 30, 2025, marking a 166% increase from ₦279.1 billion recorded during the same period in 2024 — despite a slight decline in total sales volume.
The company’s strong performance was driven by higher product pricing, increased contributions from Nigerian and Pan-African operations, and foreign exchange gains that helped offset rising energy and raw material costs.
Group revenue rose 23% year-on-year to ₦3.15 trillion, up from ₦2.56 trillion in 2024. However, total cement and clinker sales volumes fell 2% to 20.24 million tonnes, compared to 20.67 million tonnes a year earlier.
According to CSL Stockbrokers Research, the growth in revenue was largely due to a 25.85% rise in the average selling price, which climbed to ₦155,875 per ton from ₦123,855 per ton in the prior year.
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Revenue from Dangote Cement’s Nigerian operations surged 42.4% year-on-year to ₦2.18 trillion in 9M 2025, up from ₦1.53 trillion in the same period of 2024.
The company also recorded a 41.9% increase in the average selling price, reaching ₦165,110 per ton, compared to ₦116,365 per ton last year.
Sales volume in Nigeria grew marginally by 0.4% to 13.21 million metric tonnes, compared to 13.16 million metric tonnes in 2024.
Analysts noted that the modest volume increase reflected weaker demand during the rainy season, which typically slows construction activity.
The company’s Pan-African operations contributed ₦1.06 trillion to total revenue, slightly below ₦1.09 trillion in 2024 — a 5% year-on-year decline in sales volume to 7.94 million metric tonnes.
Despite this, the average selling price in the region rose 1.7% to ₦133,078 per ton, from ₦130,861 a year earlier.
Analysts attributed the softer performance to post-election uncertainties in key markets like Senegal and South Africa, and liquidity challenges in Ethiopia caused by delayed national budget approvals.
Gross profit climbed 41% to ₦1.87 trillion, boosted by higher selling prices and improved cost control. Cost of sales increased 4% to ₦1.29 trillion, with energy (₦569 billion), materials (₦255 billion), and staff costs (₦108 billion) as major components.
Selling and distribution expenses rose 8% to ₦500.6 billion, reflecting higher logistics and promotional spending, while administrative expenses increased to ₦202.3 billion from ₦145.6 billion, due to inflationary pressures.
On the financing side, finance income surged 165% to ₦77.1 billion, buoyed by better returns on short-term investments and interest income from subsidiaries.
Finance costs, meanwhile, dropped from ₦451 billion to ₦286 billion, helped by lower borrowing costs and reduced foreign exchange losses.
Despite moderate sales volumes, Dangote Cement continues to leverage its strong pricing power, regional diversification, and cost efficiency to maintain profitability.
