The Chief Executive Officer, Dangote Cement, Michel Puchercos, has said the company is boosting production in its Okpella plant, Nigeria, and progressing to deploy grinding plants in Ghana and Cote d’Ivoire to ensure cement becomes available in all African countries.
A statement from the company said Ghana and Cote d’Ivoire would join the list of the African countries when the grinding plants finally become operational.
According to the statement, the countries are Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).
The Cement Plant company also disclosed that it recorded a group revenue of N808bn for the half year ended June 31, 2022.
It stated that winners have started to emerge from its ongoing bag of goodies season 3 promo.
According to the cement company’s results made available on the website of the Nigerian Exchange, revenue rose by 17 per cent, compared to N690.55bn recorded in 2021.
Dangote Cement reported group sales volume of 14.2Mt, consisting of 9.3 Mt done by Nigerian operations, while the balance was contributed by operations in other African countries.
The Chief Executive Officer, Dangote Cement, Michel Puchercos, speaking on the result said, “Despite the elevated inflation due to a very volatile global environment, the first half of 2022 has been positive. We recorded increases in revenue and EBITDA that drove strong cash generation across the Group.
“We recorded revenue of N808.0bn up 17 per cent compared to last year and Group EBITDA of N373.2bn, up 6.3 per cent with an EBITDA margin of 46.2 per cent.”
Puchercos explained that a significant increase in energy and AGO costs were impacting negatively on the production and supply of cement products.
“To drive consumer engagement and support demand ahead of the rainy season; we have commenced the third season of our National Consumer Promotion – Bag of Goodies 3. On the operational side, we are ramping up production at our Okpella plant and are progressing well to deploy grinding plants in Ghana and Cote d’Ivoire,” he said.
He stated that the volatile international context was strengthening efforts to ramp up the usage of alternative fuels and execution of an export-to-import strategy.
The company, he noted, was reducing dependence on imported inputs and making the local markets self-sufficient.
“Our continuous focus on efficiency, meeting market demand, and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders,” He said. CONTINUE READING……
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