Dangote Cement Plc · NSENG:DANGCEM
Dangote Cement — FY2024 Earnings Presentation
30 slides from Dangote Cement's earnings presentation, Mar 5, 2025
Slide 1: FY 2024 results
FY 2024 results AUDITED RESULTS FOR YEAR ENDED 31st DECEMBER 2024 5th March 2025 @dangotecement www.dangotecement.com
Slide 2: A global leader, proudly African
A global leader, proudly African Dangote Cement is sub-Saharan Africa’s largest and leading cement company, with operations in 10 African countries. We are resolute in transforming Africa, while creating sustainable value for all our stakeholders. 8 1 2 10 9 Integrated 7 52Mta Grinding 6 Our vision
Slide 3: SSA – Macroeconomic environment
6 SSA – Macroeconomic environment 5 • Sub-Saharan Africa's GDP is projected to grow by 4.2% in 2025, driven by strong Currency depreciation against the dollar in 2024 commodity exports, increased infrastructure investments, and a gradual decline in inflation in select economies. However, challenges
Slide 4: Domestic macroeconomic environment
Domestic macroeconomic environment Real GDP growth Interest rate Oil prices • Nigeria economy is projected to grow by 3.2% in 2025, • The CBN in its first meeting this year, maintained the • Oil production improved to 1.5Mb in January, despite rig faster than the 3.1% growth in 2024, driven by bench
Slide 5: Resilient performance despite challenges
Resilient performance despite challenges FINANCIAL OPERATIONAL SUSTAINABILITY SDG Alignment 28% female Board Group revenue up 62.2% Group volumes up 1.6% to representation to ₦3,580.6B 27.7Mt Diverse Board with 7 different nationalities Published 2023 combined Annual and Sustainability Group EBITDA
Slide 6: FY 2024: Nigeria exports up 69.1%
FY 2024: Nigeria exports up 69.1% Year ended 31st December 2024 2023 Change Financial • Group revenues up 62.2%, supported by strong volume growth Sales volumes* ‘000t ‘000t % from Nigeria, improved pricing and translation gain from pan- Nigeria volumes 17,683 16,392 7.9% Africa. Pan-African volumes
Slide 7: Group financial overview
Group financial overview Income Statement Nigeria exports trend (Kt) 2024 ₦m 2023 ₦m % change 1400 Revenue 3,580,550 2,208,090 62.2% 1200 Cost of sales (1,645,651) (1,006,278) 63.5% 1000 Gross profit 1,934,899 1,201,812 61.0% Gross margin 54.0% 54.4% (0.4pp) 800 197 56 907 600 EBITDA 1,382,016 886,1
Slide 8: Group financial overview (cont’d)
Group financial overview (cont’d) Rewarding shareholding Balance Sheet As at 31/12/24 As at 31/12/23 Dividend paid (N’B) ₦m ₦m 600 Property, plant and equipment 3,271,322 2,383,528 503 500 Declared dividend of Receivables from related parties 1,045,575 - ₦30.00/share 400 338 338 Other non-current as
Slide 9: Group financial overview (cont’d)
Group financial overview (cont’d) Focused on strong cash generation • Prudent capital allocation on dividend, income 1800 tax and capex Prudent capital • Net cash of ₦821.1B was generated from allocation on 1600 296 operations in 2024 dividend, tax and 503 CAPEX • ₦413.8B was spent on capex to fund
Slide 10: Group financial overview (cont’d)
Group financial overview (cont’d) Focused on strong cash generation • Prudent capital allocation on dividend, income 1800 tax and capex Prudent capital • Net cash of ₦821.1B was generated from allocation on 1600 296 operations in 2024 dividend, tax and 503 CAPEX • ₦413.8B was spent on capex to fund
Slide 11: Nigeria – Robust volumes, particularly in exports
Nigeria – Robust volumes, particularly in exports Average cement price across our operations, $/t • Strong volume growth of 7.9%, supported by increased promotional activities 125 and improved route to market solution. Weighted Average cement • Nigeria revenues up 69.0% to ₦2,192.7B on robust volume
Slide 12: Pan-Africa – Strong performance across key line items
Pan-Africa – Strong performance across key line items EBITDA ₦m • Volumes down 1.1% to 11.1Mt, due to adverse weather conditions in Tanzania, in addition to election uncertainties in South Africa and Senegal 400 345.3 350 • Pan-African volume accounts for 40.2% of Group volume, underscoring benefits
Slide 13: Country updates
Country updates CAMEROON CONGO ETHIOPIA • DCP Cameroon sales volume • DCP Congo sold 878.0Kt in 2024 • DCP sales of 2.3Mt in 2024 was was up slightly by 2.4% to (including exports), up 8.7% 4.7% lower year-on-year. 1.4Mt in 2024 from the 807.7Kt sold in the prior year • Dangote Cement Ethiopia • Ong
Slide 14: Country updates
Country updates GHANA SENEGAL SIERRA LEONE • DCP Ghana sold 491.6Kt of • Election uncertainties stalled • Pockets of stock shortages cement in 2024, up 55.2% economic and construction impacted volumes for the year. year on year activities • Dangote Cement Sierra Leone • Dangote Cement Ghana took • D
Slide 15: Country updates
Country updates SOUTH AFRICA TANZANIA ZAMBIA • Economic activities in South • DCP sold 1.9Mt in 2024, down • DCP Zambia sold 817.7Kt of Africa were subdued due to pre by 3.2% cement in 2024, up by 3.6% and post election uncertainties, in addition power supply • Higher-than-expected rainfall • Volume
Slide 16: Debt and Liquidity
Debt and Liquidity Robust Capital Structure Investor Presentation
Slide 17: Track record of accessing debt capital market
Track record of accessing debt capital market Commercial paper programme Dangote Cement successfully cancelled 166.9 million treasury shares with the CAC. Renewed ₦300B Bond 350 programme 300 250 200 300 126 Undrawn balance of Bond update 150 ₦174B on programme Issued Tranches 100 Programme and Date
Slide 18: Robust debt profile
Robust debt profile Sustained minimum leverage ratios to support liquidity Outstanding Ratios 2024* 2024 Facility Pricings amount Tenor Current ratio 0.7x 0.7x Bond 11.85%-23.5% ₦272.3B 2025-2034 Bank debt* various ₦1,575.3B 2025-2029 Debt/capital 40.3% 53.6% Overdraft various ₦318.1B 2025 Net debt/
Slide 19: Strategy (Exports)
Strategy (Exports) Investor Presentation
Slide 20: Cementing Africa’s economic self-Sufficiency
Cementing Africa’s economic self-Sufficiency We make the regional and continental free trade agreements a reality Our vision is for Africa to be cement and clinker self-sufficient. We fulfilled this goal in our home country, Nigeria, which has gone from being one of the largest importers of cement,
Slide 21: Cementing Africa’s economic self-Sufficiency
Cementing Africa’s economic self-Sufficiency We make the regional and continental free trade agreements a reality Our vision is for Africa to be cement and clinker self-sufficient. We fulfilled this goal in our home country, Nigeria, which has gone from being one of the largest importers of cement,
Slide 22: Benefits of export strategy
Benefits of export strategy HIGHER CAPACITY UTILISATION IN OUR OPERATIONS: Increased production due 01 to exports will increase capacity utilisation in our operations and in turn reduce fixed cost per tonne. Additional earnings for the Group. CONTINENTAL AND REGIONAL BENEFITS - FREE TRADE AREA BENEF
Slide 23: Focus on West and Central Africa expansion strategy
Focus on West and Central Africa expansion strategy… …while optimising our Eastern African assets Existing operations Opportunities Ghana 0.45Mta – completed Senegal Cote d’Ivoire 1.5Mta – expected in 2025 Nigeria Sierra Leone Ethiopia Cameroon Congo Cote d’Ivoire 1.5Mta (phase 2) – 2025 Tanzania It
Slide 24: Sustainability
Sustainability Investor Presentation
Slide 25: Sustainability & Governance – The Dangote Way
Sustainability & Governance – The Dangote Way Our 7 Sustainability Pillars our embedded in our culture and guide our approach to building a sustainable business. We released our 2023 combined Annual Report and Sustainability Report with ESG data presented as per Global Reporting Initiative (GRI) ref
Slide 26: ESG is at the heart of our operation (2024 highlights)
ESG is at the heart of our operation (2024 highlights) Environmental Social Governance • CDP rating upgraded to B for both climate and water. • N13.2 billion spent on social intervention activities • Reviewed and implemented new governance policies in • Alternative Fuel Thermal Substitution Rate (TS
Slide 27: Strong Board and Governance Framework
Strong Board and Governance Framework Board of Directors (includes five Independent Directors) Diverse Board • 28% Female Board Members (gender diversity) Aliko Dangote Devakumar Edwin Arvind Pathak Emmanuel Ikazoboh * • 7 Nationalities Olakunle Alake Viswanathan Shankar Cherie Blair, CBE, KC* Dorot
Slide 28: Social performance
Social performance Sustainability Week Theme: “Business Optimisation for Net Zero –The Dangote Journey” ₦13.2B spent on CSR in 2024, up by 459.8% DCP charity outreach to Ajomo-Ikosi DCP staff embarking on a walk for road community in Kosofe LGA safety sensitisation Investor Presentation
Slide 29: Outstanding financial performance
Outstanding financial performance 2024 Group revenue up Group Revenue (N’B) Group EBITDA (N’B) 4000 62.2% at 3,581 1600 1,382 3600 ₦3,580.6B 3200 1400 2800 1200 2400 1000 2000 800 1600 600 2024 Group EBITDA up 1200 800 400 56.0% at 241 134 400 200 ₦1,382.0B 0 0 2011 2012 2013 2014 2015 2016 2017 201
Slide 30: For further information contact
For further information contact: Temilade Aduroja Head of Investor Relations Dangote Cement Plc ir@dangote.com InvestorRelationsDangoteCement@dangote.com @dangotecement www.dangotecement.com