Dangote Cement, Africa’s largest producer of the building material reported profit growth of 166% to N743 billion in the 9-months period to September 2025, despite little or no sales growth by volumes.
Cement sales volume (including clinker) fell slightly to 20.23 million tonnes in 9 months 2025, compared to 20.67 million tonnes as at September 2024.
Revenue from sales however rose to N3.154 trillion in the period, from N2.56 trillion in 2024.
The sales revenue surge was attained by price hikes largely in the Nigerian market where Dangote Cement booked revenue of N2.18 trillion and EBITDA (earnings before interest, taxes, depreciation, amortisation & impairment) of N1.29 trillion, a 59% margin.
The Pan Africa operations by comparison had an EBITDA margin of 19%.
Production costs were relatively flat at N1.286 trillion helping to push gross profit up to N1.87 trillion, due to the higher sales.
Lower finance costs due to the payback of a related party loan also helped the bottom-line. Dangote Cement stock has gained 48% in the past year and trades at a Price-to-Earnings ratio of 11.67 and a market capitalisation of N11.22 trillion ($7.48 billion).
Earnings Per Share rose by 164% year-on-year to N43.82.
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