Amanze Chinonye
Dangote Cement Plc recorded a sharp increase in profit and earnings in the first nine months of 2025, despite largely flat sales volumes across its Nigerian and Pan-African operations, according to the company’s latest operating review, Prime Business Africa reports.
The cement maker reported group volumes of 20.24 million tonnes for the nine months ended September 2025, representing a 2.1 per cent decline from 20.67 million tonnes recorded in the corresponding period of 2024. While volumes in Nigeria edged up marginally by 0.4 per cent to 13.21 million tonnes, Pan-African volumes fell by 5 per cent to 7.94 million tonnes.
Despite the lower volumes, Dangote Cement posted strong revenue growth. Group revenue rose by 23.2 per cent to ₦3.15 trillion, compared with ₦2.56 trillion in the same period last year. Revenue from Nigeria surged by 42.4 per cent to ₦2.18 trillion, offsetting a 3.4 per cent decline in Pan-African revenue to ₦1.06 trillion.
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Profitability improved significantly over the period, driven largely by the Nigerian operation. Group EBITDA jumped by 57.2 per cent to ₦1.43 trillion, up from ₦908.7 billion in 2024. EBITDA from Nigeria climbed by 85.2 per cent to ₦1.29 trillion, while Pan-African EBITDA declined by 18.6 per cent to ₦201.1 billion.
As a result, group EBITDA margin expanded to 45.3 per cent, from 35.5 per cent a year earlier. Nigeria’s EBITDA margin rose sharply to 59.2 per cent, compared with 45.5 per cent in 2024, underscoring the growing dominance of the domestic market in the group’s earnings profile.
The company’s profit before tax rose by 156.2 per cent to ₦1.04 trillion, while group net profit surged by 166.3 per cent to ₦743.3 billion, up from ₦279.1 billion in the same period last year. The tax charge increased to ₦297.7 billion, reflecting higher profitability.
Earnings per share followed the same trajectory, climbing by 164.8 per cent to ₦43.82, from ₦16.55 in the comparable period of 2024.
The results highlight Dangote Cement’s ability to grow earnings through pricing strength and margin expansion, particularly in Nigeria, even as volume growth remains subdued and Pan-African operations face headwinds.
Analysts say the performance underscores broader industry dynamics in Nigeria’s cement market, where rising prices, cost efficiencies, and domestic demand continue to support profitability, despite persistent public concern over affordability and regulatory pressures.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
