Dangote Cement Plc · NSENG:DANGCEM
Dangote Cement — 9M 2015 Earnings Presentation
12 slides from Dangote Cement's earnings presentation, Oct 26, 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 nine months ended 30th September 2015 26th October 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: Jan-Sept 2015 highlights
Jan-Sept 2015 highlights Financial results • Revenue up 17.8% to ₦365.5bn on strong pan-African performance Regional Revenues (₦bn) • Gross profit up 13.5% to ₦226.8bn, 62.0% margin Nine months ended 30th September 2015 2014 • EBITDA up 12.6% to ₦213.1 bn, 58.3% margin Nigeria 295.4 297.5 • Pre-tax
Slide 4: Nigerian Operations Jan-Sep 2015
Nigerian Operations Jan-Sep 2015 Nigeria performance • Election delay, oil price and currency weight on market Nine months ended % 2015 2014 30 September change – 15.7mt sold across total Nigerian market, about 3% down • Dangote Cement sales down 5.6% to 9.3Mt Volumes sold (kt) 9,296 9,843 (5.6)% •
Slide 5: West & Central Africa Jan-Sep 2015
West & Central Africa Jan-Sep 2015 • Nearly 1.5Mt of cement sold in first nine months of 2015 • Region generated ₦28.8bn revenue, up 482% • ₦2.9bn EBIT, 10% margin (Jan-Sep 2014: loss of ₦2.1bn) • Excellent start in Senegal, market share of about 40% – Already operating at close to full capacity – M
Slide 6: South & East Africa Jan-Sep 2015
South & East Africa Jan-Sep 2015 • Nearly 2.3Mt cement sold in first nine months • Region generated ₦41.3bn sales • Operating profit of ₦7.4bn (18% margin in ramp-up) • Strong performance in all countries • Sephaku gains good share of SA market • Zambia began operations in June Aganang, South Africa
Slide 7: Financial Overview
Financial Overview Income Statement (₦bn) Nine months to 30 September 2015 2014 ₦bn ₦bn % change Comments Revenue 365.5 310.2 17.8% 24% volume increase across the Group Nigeria Power & Fuel cost contained due to better gas availability Cost of sales (138.7) (110.5) 25.5% & usage of coal Gross profit
Slide 8: Financial Overview (Cont'd)
Financial Overview (Cont’d) 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 226.7 - 226.7 changes in working capital Changes in working capital 3.7 - 3.7 Income tax paid (2.2) - (2.2) Capital expenditure (1
Slide 9: Financial Overview (Cont'd)
Financial Overview (Cont’d) Balance Sheet (₦bn) As at As at 30/9/15 31/12/14 ₦bn ₦bn Comments Property, plant and equipment 881.2 747.8 Other non-current assets 27.5 96.1 Intangible assets 7.3 3.7 Build up of inventory Current assets 142.4 116.5 & receivables on start of new operations Cash and cash
Slide 10: Expanding and diversifying
Expanding and diversifying End 2015 End 2018 Type Nigeria Mta Mta Capacity development (Mta) Obajana 13.3 13.3 Integrated Ibese 12.0 12.0 Integrated Itori 6.0 Integrated Gboko 4.0 4.0 Integrated 80 Total Nigeria 29.3 35.3 West & Central Africa Mta Mta Cameroon 1.5 3.0 Grinding 70 4% Cote d'Ivoire 0.
Slide 11: Outlook
Outlook • Nigerian market remains subdued by currency, oil price, anticipation of FG policy news • Impact of new pricing yet to be felt in Nigerian market • Exports will increase over next few years; Ghana, Cameroun key markets • Zambian Kwachas and South African Rand currency depreciation will impa
Slide 12: Investor Relations
Investor Relations For further information contact: Carl Franklin Ayeesha Aliyu Chief Investor Relations Officer Investor Relations Dangote Industries Lagos +44 207 399 3070 +234 1 448 0815 +44-7713 634 834 carl.franklin@dangote.com Ayeesha.aliyu@dangote.com www.dangcem.com @DangoteCement 12