Dangote Cement Plc · NSENG:DANGCEM
Dangote Cement — H1 2015 Earnings Presentation
12 slides from Dangote Cement's earnings presentation, Jul 31, 2015
Slide 1: An emerging cement major building shareholder value and prosperity in Africa
An emerging cement major building shareholder value and prosperity in Africa Unaudited results for the six months ended 30th June 2015 31st July 2015
Slide 2: Disclaimer
Disclaimer This document is not an offer of securities for sale in the United States. Any securities discussed herein have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”) and may not be offered or sold in the United States absent registra
Slide 3: Operational & Financial Highlights
Operational & Financial Highlights Financial results • Revenue up 15.9% to ₦242.2bn as non-Nigerian Regional Revenues (₦bn) factories ramp up Six months ended 30/06/14 30/06/15 • Gross profit up 16.5% to ₦157.7bn, 65.1% margin Nigeria 202.4 207.8 • EBITDA up 14.0% to ₦147.5bn, 60.9% margin West & Ce
Slide 4: Nigerian Operations H1 2015
Nigerian Operations H1 2015 • Election delay and fuel strike weight on cement market Nigeria performance vs – 10.8mt sold across total Nigerian market, about 3% down % Six months ended 30/06/14 30/06/15 change • Dangote Cement sales down 7.5% to 6.3mt vs 6.8mt in 2014 Volumes sold (kt) 6,824 6,314 (
Slide 5: West & Central Africa Operations H1 2015
West & Central Africa Operations H1 2015 • Region generated ₦15.2bn revenue • ₦0.9bn operating profit (EBIT) • 797,000 tonnes of cement sold in H1 2015 • Excellent start in Senegal – Provides around 30% of cement sold • Cameroon operational – Positive response to our 42.5-grade cement – Recent ban o
Slide 6: South & East Africa Operations H1 2015
South & East Africa Operations H1 2015 • Region generated ₦19.2bn sales • 1.0 mt cement sold • Operating profit of ₦2.5bn • Sephaku makes good gains in market share • Zambia began operations in June – Little contribution to regional sales during the first half – Selling both 32.5 and 42.5 grade ceme
Slide 7: Financial Overview
Financial Overview Income Statement (₦bn) Six months to 30th June 30/6/15 30/6/14 ₦bn ₦bn % change Comments Revenue 242.2 208.9 13.7% 14% volume increase plus price increase in Nigeria Nigeria Power & Fuel cost contained due to better gas availability Cost of sales (84.5) (73.5) 14.9% & use of coal
Slide 8: Financial Overview continued
Financial Overview continued Movement in net debt (₦bn) Cash Debt Net debt ₦bn ₦bn ₦bn As at 31st December 2014 20.6 (242.6) (222.0) Cash generated from operations before 166.6 - 166.6 changes in working capital Changes in working capital 15.4 - 15.4 Income tax paid (2.2) - (2.2) Capital expenditure
Slide 9: Financial Overview continued
Financial Overview continued Balance Sheet (₦bn) As at As at 30/6/15 31/12/14 ₦bn ₦bn Comments Property, plant and equipment 834.7 747.8 Capex of ₦100bn in H1 Other non-current assets 87.6 96.1 Intangible assets 4.2 3.7 Build up of inventory Current assets 155.7 116.5 & receivables on start of new o
Slide 10: Overview of Operations
Overview of Operations Obajana, Kogi State Ibese, Ogun State Gboko, Benue State Pout, Senegal Capacity: 13.25mt (operating) Capacity: 12.0mt (operating) Capacity: 4.0mt (operating) Capacity: 1.5mt (operating) Douala, Cameroon Tema, Ghana 1.0mt (operating) Abidjan, Ivory Coast Madingou, Rep. of Congo
Slide 11: Outlook
Outlook • Nigeria Cement demand expected to improve in H2 as policy uncertainties are resolved • Fuel & power costs expected to stabilise • Further Naira devaluation is likely and public spending will remain under pressure • Operations in Senegal, Cameron, Ethiopia, Zambia will make a greater contri
Slide 12: Investor Relations
Investor Relations For further information contact: Carl Franklin Uvie Ibru Ayeesha Aliyu Chief Investor Relations Officer Investor Relations Investor Relations Dangote Industries London Lagos +44 207 399 3070 +44 207 399 3070 +234 1 448 0815 +44-7713 634 834 +44 7747 027 895 carl.franklin@dangote.c