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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...
- Janet Ogunkoya
Nigeria cement: New entrants, new capacity and our new recommendations
Overall cement sales by the three key players in Nigeria increased 11% over 9M 2021 to 22mt, from 20mt last year. This was just above our expectation of 10% for the period. The high growth rate was aided slightly by the low base over the first half of 2020, during the peak of the Covid lockdown. In Q3 21, cement sales declined 3% yoy to 6.8mt (in line with our forecast), due to the unusually high cement sales in Q3 last year which were boosted by the post Covid recovery and unusually light ra...
Moody's downgrades Dangote Cement plc ratings to B2, outlook negative
Rating Action: Moody's downgrades Dangote Cement plc ratings to B2, outlook negative. Global Credit Research- 05 Nov 2021. DIFC- Dubai, November 05, 2021-- Moody's Investors Service has today downgraded Dangote Cement plc long term corporate family rating to B2 from B1, the national scale long term corporate family rating to Aa3.ng from Aa2.ng and the probability of default rating to B2-PD from B1-PD.
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