Dangote Cement ended the first nine months with net cash and a 31.2% rise in profit, as stronger cash generation and lower finance costs improved its financial position.
In interim statements filed with the Nigerian Exchange, the company reported consolidated profit after tax of ₦974.794 billion for the period ended Sept. 30, 2026, up from ₦743.263 billion a year earlier. Revenue increased 19.6% to ₦3.774 trillion.
Gross profit rose 27.7% to ₦2.386 trillion, while production costs grew 7.9% to ₦1.388 trillion. The gross margin widened by 4 percentage points to 63.2%. Finance costs fell to ₦120.798 billion from ₦286.044 billion, and profit before tax advanced 41.5% to ₦1.473 trillion.
Group volumes, including cement and clinker, increased 9.4% to 22.137 million tonnes. Nigeria revenue grew 22.5% to ₦2.671 trillion, while Pan-African revenue rose 12.6% to ₦1.190 trillion.
The company said fuel and power costs increased 2% as volumes rose, crediting its energy mix and investments in alternative fuels and compressed natural gas logistics for containing the increase. Selling and distribution expenses reached ₦618.872 billion, compared with ₦500.616 billion a year earlier.
Cash generated from operating activities was ₦1.827 trillion, up from ₦1.291 trillion. The company’s balance moved from net debt of ₦682.9 billion at the close of 2025 to net cash of ₦51.1 billion at Sept. 30.
Dangote Cement reported paying ₦753.847 billion in dividends during the nine-month period. The board plans to weigh investment needs against shareholder returns alongside the full-year results. Management’s 2026 outlook calls for high single-digit volume growth and a group EBITDA margin in the mid-40s. The next investor call is scheduled for Nov. 4 at 9 a.m. EST (14:00 UTC).
