Dangote Cement posts N1.38trn full year revenue, proposes N20 dividend per share

Dangote Cement says it recorded a revenue of N1.38 trillion for the year ended December 31, 2021, compared with N1.03 trillion in 2020.

The company said the revenue is made up of N993.34 billion from Nigeria while revenue from across African plants amounted to N397.32 billion.

It further reported a gross profit of N538.37 billion and after tax profit of N364.44 billion, adding that its directors have proposed a dividend of N20.00 per share.

According to its financials for the full year ended December 31, 2021, group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

The company said its commitment to environmental sustainability was yielding the desired results with Carbon Disclosure Project (CDP) raising its rating from C to B-.

On its part, CDP, an international non-profit organisation based in the United Kingdom, explained that it raised the rating as a result of the company’s commitment to climate change. 

Dangote Cement said the upgrade clearly illustrated the progress it has made regarding commitment to transparency and mitigating its carbon dioxide footprint. 

The company said it is the only Nigerian entity rated by CDP, stating that the rating is one of the highest in Sub-Saharan Africa.

In his response to the development, Michel Puchercos, chief executive officer of Dangote Cement, said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability.

“The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.”

According to him, the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business”. 

“In addition, our alternative fuel project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally,” he said.

“This year, we co-processed 89,000 tons of waste representing a 60% increase over 2020.”

In another corporate filing, the company announced the appointment of Halima Aliko Dangote as non-executive director.

Edward Imoedemhe, deputy company secretary of Dangote Cement, said the appointment took effect from February 26, 2022.

Halima Dangote is the group executive director (GED), commercial operations of Dangote Industries Limited (DIL).