BOOM: Dangote Cement Post 15% Increase In Earnings, N8 Per Share Dividend

Audited results for the year ended 31^st December 2015

Dividend up 33% to ₦8.0 per share; price reduction drives strong Q4 recovery in Nigerian market; strong performances in all new territories prove success of expansion plan; strong cash generation funds capex and dividend, reduces net debt to 0.78x EBITDA

Lagos, 1^st March 2016: Dangote Cement PLC (DANGCEM-NL), Nigeria’s largest cement producer, announces Audited results for the year ended 31^st December 2015.

Financial highlights

• Revenue up 25.6% to ₦491.7B as new plants perform strongly across Africa
• EBITDA up 17.5% to ₦262.4B at 53.4% margin
• All plants profitable across Africa
• Earnings per share up 15.2% to ₦10.86
• Dividend up 33.3% to ₦8.0 per share at 73.7% payout ratio
• Strong cash generation funds dividend and capex, net debt falls to ₦204.2B (0.78x EBITDA) 

Operating highlights 

• Group cement volumes up 35% to nearly 19 million tonnes
• Price reduction drives strong rebound in Nigerian market; Q4 volumes up 36%,
  full-year volumes up 3.2% despite severe economic challenges
• Excellent entries in all new countries, gaining share from incumbents
• Senegal, Ethiopia sell approximately 1 million tonnes each
• NSE Premium Listing reflects strong corporate governance

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