{"id":11091,"date":"2026-10-28T08:48:45","date_gmt":"2026-10-28T08:48:45","guid":{"rendered":"https:\/\/ograsset.com\/?p=11091"},"modified":"2026-10-28T08:48:46","modified_gmt":"2026-10-28T08:48:46","slug":"dangote-cements-9m-pre-tax-profit-jumps-41-5-to-n1-47-trillion-as-finance-costs-fall-58","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/10\/28\/dangote-cements-9m-pre-tax-profit-jumps-41-5-to-n1-47-trillion-as-finance-costs-fall-58\/","title":{"rendered":"Dangote Cement\u2019s 9M pre-tax profit jumps 41.5% to N1.47 trillion as finance costs fall 58%"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"645\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-64.png\" alt=\"\" class=\"wp-image-11093\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-64.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-64-300x198.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-64-768x508.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Dangote Cement Plc reported a pre-tax profit of N1.47 trillion for the nine months ended September 30, 2026, up 41.5% from N1.04 trillion a year earlier. Profit after tax rose 31.2% to N974.79 billion, with earnings per share at N58.37, up from N43.82.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is according to the company\u2019s <a href=\"https:\/\/doclib.ngxgroup.com\/Financial_NewsDocs\/48191_DANGOTE_CEMENT_PLC-_QUARTER_3_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_OCTOBER_2026.pdf\"><strong>unaudited third-quarter financial statements<\/strong><\/a> filed with the Nigerian Exchange (NGX) on Tuesday, October 27.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The pre-tax profit grew faster than revenue, which rose 19.6% to N3.77 trillion, and faster than operating profit, which rose 27.8% to N1.57 trillion, because finance costs fell sharply.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Key highlights (9M 2026 vs 9M 2025):<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue: N3.77 trillion (up 19.6% from N3.15 trillion)<\/li>\n\n\n\n<li>Gross profit: N2.39 trillion (up 27.7% from N1.87 trillion)<\/li>\n\n\n\n<li>EBITDA: N1.77 trillion (up 23.7% from N1.43 trillion)<\/li>\n\n\n\n<li>Operating profit: N1.57 trillion (up 27.8% from N1.23 trillion)<\/li>\n\n\n\n<li>Profit before tax: N1.47 trillion (up 41.5% from N1.04 trillion)<\/li>\n\n\n\n<li>Profit after tax: N974.79 billion (up 31.2% from N743.26 billion)<\/li>\n\n\n\n<li>Earnings per share: N58.37 (up 33.2% from N43.82)<\/li>\n\n\n\n<li>Total financial liabilities: N539.61 billion (Down 31.40% from N786.61 billion).<\/li>\n\n\n\n<li>This comprises N274.54 billion in non-current financial liabilities and N265.07 billion in current financial liabilities.<\/li>\n\n\n\n<li>Cash and cash equivalents: N592.67 billion (Up 49.07% from N397.57 billion).<\/li>\n\n\n\n<li>Total assets: N6.15 trillion (Up 1.82% from N6.04 trillion).<\/li>\n\n\n\n<li>Shareholders\u2019 funds: N2.68 trillion (Up 2.31% from N2.62 trillion).<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Driving the numbers:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Pre-tax margin widened to about 39.0% from 33.0% as gross margin improved to about 63.2% from 59.2%.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Production costs dropped to only 7.9% at N1.39 trillion.<\/li>\n\n\n\n<li>Fuel and power, the largest cost, rose 2.0% to N580.49 billion, and depreciation and plant maintenance fell.<\/li>\n\n\n\n<li>Finance costs also fell 57.8% to N120.80 billion from N286.04 billion.<\/li>\n\n\n\n<li>Interest expense dropped from N281.76 billion to N102.92 billion, and N30.96 billion was capitalised, leaving N71.96 billion recognised.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This more than offset net foreign exchange losses, which rose to N40.77 billion from N1.13 billion.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Third-quarter pre-tax profit:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Comparing the nine-month results with the <a href=\"https:\/\/nairametrics.com\/2026\/07\/30\/dangote-cements-h1-2026-profit-jumps-34-as-nigeria-carries-group\/\"><strong>first-half figures<\/strong><\/a> suggests that third-quarter pre-tax profit was about N491.11 billion.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This is 57.9% higher than the estimated N310.97 billion recorded in the third quarter of 2025.<\/li>\n\n\n\n<li>However, it is 12.3% lower than the N560.22 billion reported in the second quarter of 2026.<\/li>\n\n\n\n<li>The figures also suggest that third-quarter finance costs fell to about N8.7 billion, from N112.11 billion in the first half.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The lower costs may partly reflect a smaller net foreign exchange loss. The loss for the nine months was N40.77 billion, compared with N45.03 billion in the first half<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tax and segments:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Income tax rose 67.2% to N497.71 billion, lifting the effective tax rate to about 33.8% from 28.6%, which is why after-tax profit grew 31.2% against 41.5% for pre-tax profit. The company notes the interim rate is an estimate of the annual weighted rate.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Nigeria generated revenue of N2.67 trillion (up 22.5%) and EBITDA of N1.60 trillion, about 90% of group EBITDA before central costs, but its profit for the period rose only 3.4% to N849.40 billion.<\/li>\n\n\n\n<li>Pan-Africa revenue rose 12.6% to N1.19 trillion and operating profit rose 64.4% to N146.46 billion, but the segment reported a loss of N7.86 billion, against a profit of N182.73 billion a year earlier.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Haulage costs rose 23.5% to N489.29 billion and make up almost four-fifths of selling and distribution costs of N618.87 billion, which rose 23.6%.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Balance sheet:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The group moved from net debt of about N310 billion at the start of the period to net cash of about N115 billion.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loans and borrowings fell to N477.77 billion from N707.53 billion, and commercial paper of N209.61 billion was repaid. Total financial liabilities were N539.61 billion, down 31.4%.<\/li>\n\n\n\n<li>Cash rose 49.1% to N592.67 billion.<\/li>\n\n\n\n<li>Operating cash flow rose 41.5% to N1.83 trillion, and the company paid dividends of N753.85 billion and repaid loans of N992.65 billion.<\/li>\n\n\n\n<li>Current liabilities of N2.75 trillion exceed current assets of N1.97 trillion, a current ratio of 0.72 times, with trade and other payables up 18.0% to N1.50 trillion.<\/li>\n\n\n\n<li>Capital commitments were N2.31 trillion, more than double the N1.12 trillion at December 2025.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The group also booked a N160.44 billion loss on translating foreign operations, against a gain of N7.91 billion, so total comprehensive income rose only to N814.36 billion from N751.17 billion.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Market reaction:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Dangote Cement closed at N1,341.90 on October 27, 2026, up 9.8% on the day on about 4.29 million shares traded.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The stock is up about 120.34% year to date from N609.00, and about 25.8% for the month, and has passed its previous 52-week high of N1,189, with a range of N534.60 to N1,341.90.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the stock up more than 120% this year, the market already prices in strong earnings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next tests are whether margins hold as materials and haulage costs rise, and how the N2.31 trillion of commitments is funded from the cash now on hand.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/10\/28\/dangote-cements-9m-pre-tax-profit-jumps-41-5-to-n1-47-trillion-as-finance-costs-fall-58\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Dangote Cement Plc reported a pre-tax profit of N1.47 trillion for the nine months ended September 30, 2026, up 41.5% from N1.04 trillion a year earlier. Profit after tax rose 31.2% to N974.79 billion, with earnings per share at N58.37, up from N43.82. This is according to the company\u2019s unaudited third-quarter financial statements filed with&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/10\/28\/dangote-cements-9m-pre-tax-profit-jumps-41-5-to-n1-47-trillion-as-finance-costs-fall-58\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":11093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-11091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-64.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=11091"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11091\/revisions"}],"predecessor-version":[{"id":11095,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11091\/revisions\/11095"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/11093"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=11091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=11091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=11091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}