Dangote Cement Plc, Africa’s largest cement manufacturer, controlled by Africa’s richest man Aliko Dangote, reported stronger earnings for the first half of 2026 as higher sales volumes, tighter cost controls, and a sharp increase in regional exports lifted profitability. According to the company’s interim financial statements, profit after tax rose 22.7 percent to N638.5 billion ($470 million) from N520.4 billion ($381.7 million) in the corresponding period of 2025.

The Lagos-listed cement producer also recorded broad-based growth across its operations. Group revenue increased 21.4 percent to N2.51 trillion ($1.84 billion) in the first six months of 2026, compared with N2.071 trillion ($1.51 billion) a year earlier. Group EBITDA climbed 25.8 percent to N1.18 trillion ($865.2 million), while the EBITDA margin improved to 47.3 percent. The stronger result was supported by lower interest expenses and a more efficient energy mix that reduced production costs in its Nigerian operations.

Dangote Cement boosts exports across Africa

Operating performance also improved during the period as the company continued to expand exports and increase output across its markets. Group sales volumes rose 11.8 percent to 14.9 million tonnes, while Nigerian cement and clinker exports jumped 62.3 percent to 1.1 million tonnes. The increase was driven by shipments of 20 vessels carrying clinker from Nigeria to Ghana, Cameroon, and Côte d’Ivoire, reflecting the growing role as a regional export hub.

Outside Nigeria, Dangote Cement’s pan-African business also posted stronger results. Sales volumes across its operations in other African markets increased 19 percent to 6 million tonnes, highlighting steady demand despite economic pressures in several countries. Chief Executive Officer Arvind Pathak said the results reflected sustained operational discipline, prudent cost management, and the company’s ability to continue investing in future expansion while maintaining strong financial performance.

African industrial giant expands half-year capacity

Dangote Cement is majority-owned by Aliko Dangote, who holds an 86.82 percent stake in the company through 14.65 billion shares, making him its largest shareholder and the principal beneficiary of dividend payments. The cement producer operates in 10 African countries with a combined installed capacity of 55 million tonnes per annum. In Nigeria, it has an installed capacity of 35.25 million tonnes per annum across its Obajana, Ibese, Gboko, and Okpella plants. It is also nearing completion of a new 6-million-tonne-per-annum plant in Itori, Ogun State, which is expected to strengthen production capacity and support further export growth.

The company’s financial position also improved during the period, giving it additional flexibility to fund expansion and operational investments. Total assets increased to N6.62 trillion ($4.85 billion) at the end of the first half, from N6.04 trillion at the close of 2025. Dangote Cement ended the period with a net cash balance of N215.2 billion ($158 million), with cash holdings exceeding total borrowings. During the half year, the company also expanded investments aimed at lowering logistics and energy costs, including commissioning a mobile refueling unit at its Okpella plant and deploying 300 compressed natural gas trucks in Tanzania.