Dangote Cement posts N638.5bn H1 profit, revenue up 21% as debt falls
Dangote Cement reported a pre‑tax profit of N981.39 billion for the first half of 2026, up 34.4 % from N730.03 billion a year earlier, while profit after tax rose 22.7 % to N638.53 billion (EPS N38.22). Revenue grew 21.35 % to N2.51 trillion, driven by a 11.64 % rise in production to 14.49 million tonnes and better pricing. Cash surged to N796.28 billion (+100.3 %) and total financial liabilities fell 44.3 % to N646.17 billion, sharply lowering the group’s debt burden. Nigeria accounted for about 71.8 % of group revenue and delivered an EBITDA margin of roughly 60.1 %, far above the Pan‑African margin of 17.6 %. The share price closed at N1,034 on July 29, up 69.8 % year‑to‑date.
This strong performance shows that Nigeria’s cement sector remains a robust earner despite broader economic headwinds, signalling healthy demand for construction inputs and effective cost control. For investors, the company’s solid cash pile and deleveraging improve its capacity to fund expansions or pay higher dividends, making the stock attractive amid a bullish YTD gain. For businesses and households, stable cement prices and reliable supply could support ongoing infrastructure projects without sudden cost spikes.
Investors should watch for any dividend announcements or capital‑expenditure plans from Dangote Cement, while contractors can factor in steady cement costs when budgeting projects. The improved balance sheet also reduces systemic risk in the banking sector, as the group’s lower debt eases pressure on lenders.