Dangote Cement Plc · NSENG:DANGCEM
Dangote Cement — H1 2025 Earnings Presentation
24 slides from Dangote Cement's earnings presentation, Jul 31, 2025
Slide 1: H1 2025 results
H1 2025 results UNAUDITED RESULTS FOR SIX MONTHS ENDED 30th JUNE 2025 31st July 2025 @dangotecement www.dangotecement.com
Slide 2: Key milestones in the year
6 Key milestones in the year….. 5 CNG trucks Robust export strategy Geographical diversification Alternative Fuel Significant reduction in logistics cost Significant investment in Alternative Over 200% growth in export sales over 3Mta grinding plant in Côte d’Ivoire set for through CNG. DCP has depl
Slide 3: 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 4: SSA – Macroeconomic environment
6 SSA – Macroeconomic environment 5 Currency depreciation against the dollar YTD in June SSA GDP growth SSA inflation (average) 1.1% Nigeria (Naira) 18.3% 6.2% South Africa (Rand) 17.6% -6.0% Ethiopia (Birr) 4.0% 3.8% 13.3% 3.6% 13.4% FCFA (XAF) -8.9% Tanzania (TZS) 42.2% Ghana (Cedis) 16.7% Zambia
Slide 5: Domestic macroeconomic environment
Domestic macroeconomic environment Real GDP growth Interest rate Oil prices • Nigeria’s economy expanded 3.13% in Q1 2025, up from • The CBN held the benchmark interest rate steady at • Oil production averaged 1.5Mb in H1 2025, a 9.9% 2.27% in the first quarter of 2024, driven mainly by the 27.50%,
Slide 6: Resilient performance despite challenges
Resilient performance despite challenges FINANCIAL OPERATIONAL SUSTAINABILITY SDG Alignment 28% female Board Group revenue up 17.7% representation Nigeria exports up 18.2% to ₦2,071.6B Diverse Board with 7 different nationalities Published 2024 combined Strong reduction in Nigeria Annual and Sustain
Slide 7: Almost threefold growth in PAT, surpassing FY 2024
Almost threefold growth in PAT, surpassing FY 2024 Solid 41.8% EBITDA growth driving margin expansion Six months ended 30th June 2025 2024 Change Financial • Group revenues up 17.7%, reflecting improved pricing in line with Sales volumes* ‘000t ‘000t % inflation realities Nigeria volumes 8,951 8,994
Slide 8: Group financial overview
Group financial overview Income Statement Nigeria exports trend (Kt) H1 2025 ₦m H1 2024 ₦m % change Revenue 2,071,598 1,760,055 17.7% 800 Cost of sales (853,559) (833,273) 2.4% 700 Gross profit 1,218,039 926,782 31.4% 600 Gross margin 58.8% 52.7% 6.1pp 190 500 156 EBITDA 944,900 666,221 41.8% 400 EB
Slide 9: Group financial overview (cont’d)
Group financial overview (cont’d) Rewarding shareholding Balance Sheet As at 30/6/25 As at 31/12/24 Dividend paid (N’B) ₦m ₦m 600 Property, plant and equipment 3,435,280 3,271,322 503 503 500 ₦30.00/share approved Receivables from related parties 1,034,100 1,045,575 for shareholders 400 338 338 Othe
Slide 10: Group financial overview (cont’d)
Group financial overview (cont’d) Focused on strong cash generation • Net cash of ₦933B was generated from operations in H1 2025 1380 • ₦166.3B was spent on capex to fund the 154 construction of new plants in West African 65 countries, distribution trucks as well as 1180 improvements in our energy e
Slide 11: Nigeria – Robust revenue growth, improved EBITDA margins
Nigeria – Robust revenue growth, improved EBITDA margins Average cement price across our operations, $/t • Sales volume relatively flat at 9.0Mt amid slowdown in real estate and private construction projects. 165 • Nigeria revenues up 45.5% to ₦1,442.3B Weighted Average cement 145 price of $93 145 •
Slide 12: Pan-Africa – Election uncertainties impact sales
Pan-Africa – Election uncertainties impact sales • Volumes down 9.0% to 5.0Mt, due to post-election uncertainties in Senegal and South Africa, as well as liquidity constraints in Ethiopia. • Revenues down 15.5% to ₦682.1B, due to lower sales across major of our pan Africa markets • EBITDA down 37.8%
Slide 13: Country updates
Country updates CAMEROON CONGO ETHIOPIA • DCP Cameroon sales volume • DCP Congo sold 445.7Kt in H1 • DCP sales of 998.5Kt in H1 declined by 3.3% to 686.7Kt 2025 (including exports), 2025 was 18.2% lower year-on- in H1 2025 relatively flat year-on-year. year. • Ongoing infrastructural • This is due l
Slide 14: Country updates
Country updates GHANA SENEGAL SOUTH AFRICA • Economic activities in South • DCP Ghana sold 215.5Kt of • Post election uncertainties Africa were subdued due to post cement in H1 2025, down stalled economic and election uncertainties. from 255.2Kt in same period construction activities last year. • In
Slide 15: Country updates
Country updates TANZANIA ZAMBIA • DCP sold 923.1Kt in H1 2025, • DCP Zambia sold 417.4Kt of up by 20.5% cement in H1 2025, down by 2.6% • Ongoing infrastructure initiatives—including the Rufiji • High production . costs, limited Dam, Mtwara Airport liquidity, and shrinking local and expansion, road
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 Plc's corporate family rating (CFR) upgraded to B3 from Caa1; 350 and long-term national scale corporate family rating (NSR) to A3.ng from Baa3.ng. 300 • Rating upgrade reflects strong fundamentals and ability
Slide 18: Sustainability
Sustainability Investor Presentation
Slide 19: 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 2024 combined Annual Report and Sustainability Report with ESG data presented as per Global Reporting Initiative (GRI) ref
Slide 20: ESG drives everything we build (H1 2025 highlights)
ESG drives everything we build (H1 2025 highlights) Environmental Social Governance • N16.5 billion spent on CSR activities across the Group • Reviewed and implemented new governance policies in • Unveiled decarbonisation roadmap, targeting 20% in H1 2025, up 603.5% year-on-year. line with best prac
Slide 21: 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* Dor
Slide 22: Social performance
Social performance International Women’s Day Leadership Programme ₦16.2B spent on CSR in H1 2025, up by 603.5% Cross-section of newly inducted graduate GCHRO addressing 2025 graduate trainee trainee inductees Investor Presentation
Slide 23: 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 24: 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