Gabriel Enenche —
Dangote Cement’s revenue grew by 33.8% from US$2.49bn in 2020 to US$3.33bn in 2021. Its sales volume also rose by 13.8% from from 25.7Mt to 29.3Mt, driven by a strong domestic market. Although, international volume growth was strong. Earnings before interest, taxation, depreciation and amortization (EBITDA) increased by 43.2% to US$1.65bn from US$1.15bn.
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In the words of Chief Executive Officer, Michel Puchercos, “over the last two years, we have finalised the deployment of 6Mt new capacity in Nigeria.
“Looking ahead, we are now focused on a less capital-intensive expansion cycle, which includes building grinding plants across West and Central Africa to leverage and strengthen Dangote Cement’s regional integration. We are on track to deploy grinding capacity in Cote d’Ivoire and Ghana.
“In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000t of waste representing a 60% increase over 2020″.
The group noted that Cement demand in Nigeria was sustained by increasing housing infrastructure, commercial construction, and government projects including major highways, roads, and railways.
In May 2021 it re-started exporting clinker from its Onne and Apapa terminals and delivered seven clinker shipments with a total volume of 197,000t in 2021. It also exported 706,000t in 2021 by road to Togo and Niger.
Internationally, the group said that it performed well but it also faced challenges in Cameroon, Ghana and Sierra Leone, where freight costs had increased substantially, causing volatility in the landing cost of cement and clinker.
