reports
- ARM Research
- Oyinkansola Aregbesola
Dangote Cement Plc 2024FY Earnings Note | Forging Ahead
Dangote Cement Plc (DANGCEM) delivered strong revenue growth in 2024FY, driven by effective price adjustments and consistent sales, demonstrating resilience against a challenging macroeconomic backdrop. While the company successfully managed inflationary pressures and currency depreciation, rising operating costs and increased finance charges limited overall profitability. In 2025FY, DANGCEM is positioned for improved earnings, supported by capacity expansion, cost-optimization initiatives, a...
Moody's Ratings announces completion of a periodic review of ratings o...
Moody's Ratings (Moody's) has completed a periodic review of the ratings of Dangote Cement Plc and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 12 December 2024 in which we reassessed the appropriateness of the ratings in the contex...
Moody's Ratings assigns (P)Caa1/Baa3.ng ratings to Dangote Cement Plc'...
Moody's Ratings (Moody's) has today assigned a (P)Caa1 local currency rating and Baa3.ng national scale rating (NSR) to the new NGN300 billion senior unsecured domestic medium term note program (DMTN) established by Dangote Cement Plc (DCP) and assigned a Caa1 local currency rating and Baa3.ng NSR t...
Dangote Cement Plc: 3 directors
Three Directors at Dangote Cement Plc bought 2,500,000 shares at 618.100NGN. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...
H1:2023 DANGCEM Earnings Note | FX Devaluation Erodes Bottom-Line Perf...
Higher Revenue Riding on Pricing Strategy Dangote Cement Plc. recently released its H1:2023 financial results, depicting a 17.67% YoY growth in revenue to NGN950.83bn. This is amid a decline (-5.53% YoY to 13.4Mt) in sales volume during the period. We opine that the increase in revenue is associated with a strategic upward price review by the company’s management. We believe the management will sustain revenue growth through strategic pricing and improved sales volume. Net Exchange Loss on F...
Dangote Cement Plc. Q1:2023 Earnings Note: Taking the Lead | Strong Yo...
Cash Crunch and Election Activities Weigh on Sales Volume Q1:2023 started on a rather bumpy note for Dangote Cement Plc. following a (-1.56% YoY) slowdown in Revenue from NGN413.18bn in Q1:2022 to NGN406.72bn in Q1:2023. Also, Group Sales Volume declined 13.5% to 6.3Mt, (vs 7.2Mt in Q1:2022) an offshoot of Naira scarcity and electioneering activities that permeated the first quarter. Nonetheless, Pan-African Volumes edged higher by 8.9% to 2.6Mt. Nevertheless, when compared to the negative ye...
Dangote Cement Plc. Earnings Note 2022FY - Keeping Heads Above Water
Keeping Heads Above Water Price Review keeps Revenue ElevatedAs culled from the 2022FY earnings result, Dangote Cement Plc. grew revenue by 17.0% YoY to NGN1.62trn from NGN1.38trn in 2021FY. This is amid a decline (5.1% to 27.8Mt) in sales volume during the period. We allude this to sustained uptrend in inflation and energy supply disruptions. Also, the Pan-African volumes decline is on the back of extended plant maintenance in Senegal and Congo and volatility in cement/clinker landing costs in...
Moody's assigns B2 local currency rating and Aa3.ng NSR to Dangote Cem...
Moody's Investors Service ("Moody's") has today assigned a B2 local currency rating and Aa3.ng national scale rating (NSR) to Dangote Cement Plc's (DCP) proposed senior unsecured Series 2 notes to be issued under the existing domestic medium-term note program (DMTN). DCP's existing ratings, includin...
- Vetiva Research
DANGOTE CEMENT PLC FY'21 Earnings Release - Earnings growth spurs buoy...
Higher prices offset costsGroup revenue recorded double-digit growth for the sixth consecutive quarter, with a significant jump of 32% in topline growth in Q4’21. This translated to a 34% increase in FY’21 revenue to ₦1.4 trillion. For the Nigerian operations, cement sales volume jumped 17% y/y on the back of continuous increase in private sector demand for housing infrastructure and the public sector demand for capital projects. According to management, the strong demand was also buoyed b...
- Janet Ogunkoya
Dangote Cement: Share buyback announcement underwhelms; retain Hold
Dangote Cement (Dangcem) announced the commencement of the second tranche of its share buyback programme on 12 January. The company will look to buy back a maximum of 1% of outstanding shares on 19-20 January 2022, or when the entire tranche size has been sold – whichever is earlier. The cost of the 1% share buyback programme is within Dangcem's cash position. As of 9M 21, the company's free cashflow (FCF) and cash balance printed at NGN306bn and NGN179bn, respectively. Dangcem's FCF can also...
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