Author: ContentM

October 6, 2022
Lagos, Nigeria

Obajana Cement Plant Shutdown

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, wishes to enlighten stakeholders and the public on the recent shutdown at our Obajana Cement plant in Kogi State. On Wednesday, 5 October 2022, thugs and local vigilantes from the State Government invaded and sealed the Obajana Cement plant over alleged claims of unpaid taxes and Kogi State Government purported equity interest in Dangote Cement PLC. This development led to several of our staff being harmed by these thugs and local vigilantes.

While we reassure stakeholders and the public that we are taking firm action to address this situation, we reiterate that Dangote Cement PLC continues to perform its obligations as a compliant corporate organization.

The welfare of our staff remains our key focus as we work hard to minimise the further impact on our people and operations. However, we remain resolute in transforming Africa while creating sustainable value for our people, communities, investors and customers.

Enquiries: InvestorRelationsDangoteCement@dangote.com

May 4, 2022
Lagos, Nigeria

DANGOTE CEMENT COMPLETES ISSUANCE OF N116B SERIES 2 FIXED RATE SENIOR UNSECURED BOND

Dangote Cement PLC (“Dangote Cement” or the “Company”), Sub-Saharan Africa’s largest cement producer, is pleased to announce the successful completion of its ₦116Billion Series 2 Bond issuance (the “Bond Issuance”), which is the largest corporate bond issuance in the history of the Nigerian Capital Markets.

The Bond Issuance, which is the second issuance under the Company’s ₦300Billion Multi-Instrument Issuance Programme, attracted participation from a wide array of institutional investors including pension funds, asset managers, banks, insurance companies and high net-worth individuals. The Bond Issuance comprised three tranches: a 5-year Tranche A issuance priced at 11.85%, a 7-year Tranche B issuance priced at 12.35%, and a 10-year Tranche C issuance priced at 13.00%. The proceeds of the Bond Issuance will be used to finance the Company’s Nigeria expansion projects, short-term debt refinancing and working capital requirements.

Stanbic IBTC Capital acted as Lead Issuing House/Bookrunner to the Bond Issuance, whilst Absa Capital Markets, Meristem Capital, Standard Chartered, United Capital, Coronation Merchant Bank, Ecobank Development Company, FBNQuest Merchant Bank, FCMB Capital Markets, Futureview Financial Services, Vetiva Capital, Quantum Zenith Capital and Rand Merchant Bank Nigeria acted as Joint Issuing Houses.

Commenting on the Bond Issuance, Mr Michel Puchercos, Group Managing Director of Dangote Cement, said:

“Dangote Cement is delighted to have successfully undertaken a second issuance under our Multi-Instrument Issuance Programme which was launched last year, and even more delighted to have concluded the most significant corporate bond issuance in the history of the Nigerian Debt Capital Markets. This landmark transaction would fund our expansion projects and further support the implementation of our export strategy. I want to thank our stakeholders and investor community for their strong participation in another Bond issuance with the Company.”

The Bond notes will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.

Enquiries: InvestorRelationsDangoteCement@dangote.com

Audited results for the year ended 31st December 2021

• Another record result with double digit growth across board
• Robust profit after tax up 32.0% at ₦364.4B
• Proposed dividend of ₦20.00 per share
• CDP climate rating upgrade

Lagos, 28th February 2022: Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces audited results for the financial year ended 31^st December 2021.

Financial highlights

• Group revenue up 33.8% to ₦1,383.6B
• Record group EBITDA up 43.2% to ₦684.6; 49.5% margin
• Strong Pan-Africa EBITDA of ₦88.8B, up 24.6%; 22.4% margin
• Record earnings per share up 31.6% to ₦21.24
• Proposed dividend of ₦20.00 per share
• Net debt of ₦225.1B; net debt/EBITDA of 0.33x

Operating highlights 

• Group sales volumes up by 13.8% to 29.3 million tonnes
• Total Nigerian volumes up 16.8% to 18.6Mt; domestic volumes up 13.6% at 17.7Mt
• Pan-African volumes up 8.7% at 10.9 million tonnes
• 3Mta Okpella plant ramp up is on track

ESG highlights 

• CDP climate rating upgraded to B- for our commitment to climate change
• Co-processed 89Kt of waste in 2021, an increase of 60% over 2020

Share buyback

• In January 2022, Dangote Cement successfully completed tranche II of the share buyback programme; repurchasing 0.74% of shares outstanding

Michel Puchercos, Chief Executive Officer, said:

“We are pleased to report a solid set of the results for the full year 2021. Group volumes for the year were up 13.8% and Group EBITDA was up 43.2%, at a 49.5% margin. I am delighted to report that Dangote Cement experienced its strongest year across all line items, with a record PAT of ₦364.4B up 32.0%.

During the year, CDP raised Dangote Cement’s rating to B- for the Company’s commitment to climate change. The CDP rating upgrade clearly illustrates the progress made by Dangote Cement regarding our commitment to transparency and mitigating our CO2 footprint.

Over the last 2 years, we have finalised the deployment of 6 million tonnes new capacity in Nigeria. Looking ahead, we are now focused on a less capital-intensive expansion cycle, which includes building grinding plants across West and Central Africa to leverage and strengthen Dangote Cement’s regional integration. We are on track to deploy grinding capacity in Cote d’Ivoire and Ghana. 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. This year, we co-processed 89,000 tonnes of waste representing a 60% increase over 2020.

Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Due to an increased focus on efficiency while meeting double-digit market growth and maintaining costs under control, Dangote Cement has and will consistently deliver superior profitability and returns to its shareholders.”

About Dangote Cement 

Dangote Cement is Africa’s leading cement producer with nearly 51.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 35.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines; our Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; our Gboko plant in Benue state has 4Mta; and our Okpella plant in Edo state has 3Mta. Through our recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.

In addition, we have operations in 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).

January 26, 2021
Lagos, Nigeria

SHARE BUY-BACK PROGRAMME BY DANGOTE CEMENT PLC – COMPLETION OF TRANCHE II

Dangote Cement Plc (“DCP” or the “Company”) hereby announces the completion of the second tranche (“Tranche II”) of its share buy-back programme which was announced on 12 January 2022. Relevant details of this Tranche II are set forth below:

Following the conclusion of Tranche II, the total number of residuals issued and fully paid outstanding shares of DCP amounts to 16,873,559,251. The repurchased shares will be held as treasury shares and may subsequently be cancelled.

Execution of this Tranche II did not have any material impact on the Company’s financial position.

For more information, please contact:
Temilade Aduroja
Head, Investor Relations
InvestorRelationsDangoteCement@dangote.com

For: DANGOTE CEMENT PLC

Edward Imoedemhe
Deputy Company Secretary

January 12, 2021
Lagos, Nigeria

SHARE BUYBACK PROGRAMME – COMMENCEMENT OF TRANCHE II

Dangote Cement Plc (“Dangote Cement” or “DCP” or the “Company”) hereby announces the commencement of the second tranche of its share buyback programme (“Tranche II”).

Tranche II will be executed under the approval granted by the Company’s shareholders at the Annual General Meeting of DCP, which was held on 26 May 2021, within the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations (as applicable) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Exchange Limited (“NGX”). Based on the aforementioned shareholders’ approval, the number of shares to be repurchased under the Share Buy-Back Programme will not exceed 10% of DCP’s issued capital.

The Programme is being effected in tranches, with Tranche II being executed by the appointed stockbrokers on the Company’s behalf. Relevant details of this Tranche II are set forth below:

Through its appointed Stockbrokers, the Company will, at its discretion, purchase DCP’s shares in the open market over the duration of Tranche II, subject to prevailing market conditions and under the current daily trading rules of the NGX.
DCP would however not be under any obligation whatsoever to purchase any or all of the DCP shares put on offer over the duration of Tranche II.

The shares being repurchased by the Company under the Share Buy-Back Programme will be held as treasury shares and may subsequently be cancelled. Execution of this Tranche II is not expected to have any material impact on the Company’s financial position.

Dangote Cement shareholders seeking to participate in Tranche II of the Share Buyback Programme are hereby advised to contact their stockbrokers or any other independent professional adviser registered as a capital market operator by the SEC for further guidance on the submission of trades on the NGX’s trading platform. DCP will provide weekly updates on the progress of Tranche II of the Programme on its website over the duration of this tranche.

The Company will continue to monitor the evolving business environment and market conditions in making decisions on further tranches of the Share Buy-Back Programme.

Shareholders and investors are advised to exercise caution when dealing in the securities of Dangote Cement until the completion of Tranche II of the Share BuyBack Programme. An announcement will be published upon completion of Tranche II of the Programme.

For more information, please contact:
Temilade Aduroja
Head, Investor Relations
InvestorRelationsDangoteCement@dangote.com

Signed:

Edward Imoedemhe
Deputy Company Secretary

December 09, 2021
Lagos, Nigeria

Dangote Cement’s CDP Climate Rating Upgraded to B-

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, is pleased to announce that CDP has raised its rating from C to B- for the Company’s commitment to climate change. The rating upgrade reflects Dangote Cement’s improvement in governance, risk management processes & disclosures, emissions reduction initiatives, business strategy & financial planning and value chain engagement.

This upgrade demonstrates the continued efforts made by the Company to increase its levels of non-financial disclosure and improve its sustainability reporting.

This year, for the third time, Dangote Cement submitted to the CDP, one of the world’s leading research groups focused on climate change. In addition to the rating upgrade, Dangote Cement became a CDP supporter.

Commenting on the announcement, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc, 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. We are focused on making a positive difference, which is why sustainability is at the core of every part of our business. We are currently implementing our ‘Alternative Fuel Initiative’ which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally.

We strongly believe that sustainable value creation for all our stakeholders will be based on our ability to fully embed the 7 sustainability pillars of “The Dangote Way” into every aspect of our operation and culture.”

For: DANGOTE CEMENT PLC

August 26, 2021
Lagos, Nigeria

Press Release on Commercial Paper Programme

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces a new ₦150 billion Commercial Paper Programme. This Programme allows us to broaden our potential funding sources and, combined with our ₦300 billion multi-instrument issuance Bond programme, increases our access to capital market funding.

The Commercial Paper Programme will be used for working capital and general corporate purposes.

Commenting on the programme, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc, said:

“The establishment of a new ₦150 billion Commercial Paper Programme confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.

I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of commercial papers and bonds. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement Plc.”

Signed:

Edward Imoedemhe
Deputy Company Secretary

Issued: July 15, 2021
Lagos, Nigeria

Dangote Cement reports its financial results using XBRL format with the IFRS taxonomy

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces that its financial information has been made available to investors in eXtensible Business Reporting Language (XBRL) format using the IFRS taxonomy.

XBRL enables companies standardise the preparation, publishing, and exchange of financial information in a machine readable format. It is mainly used by publicly listed companies which are required to use it by law, such as companies listed in the USA, Europe and South Africa.

Dangote Cement becomes the first Nigerian listed company to report its financial results using IFRS taxonomy. Data contained in the Q3 2020, Full Year 2020 and Q1 2021 financial statements are now available in XBRL format.

Commenting on the execution of XBRL, Michel Puchercos, Chief Executive Officer of Dangote Cement, said:

“We believe that adopting XBRL reporting will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in Dangote Cement’s continuing efforts to modernise and enhance transparency of, and access to, companies’ disclosures.

It will enable our publicly available financial information to be captured accurately and promptly, thus bringing uniformity of our results on all the platforms and ensuring that investors and analysts who use these platforms have the correct information. Although XBRL reporting is not mandatory for companies listed on the Nigerian Exchange, it is becoming a universal format to exchange financial data and promotes the coordination of international reporting requirements.

The implementation of XBRL demonstrates Dangote Cement’s strong dedication to reaching international reporting and corporate governance standards. As Africa’s leading cement producer, we are leading the way with our commitment to sustainability and best practice.  We are driven by the goal of achieving the highest level of governance and building a prosperous and sustainable brand for all our stakeholders.  Transparency and consistency are at the core of every part of our business culture.”

Issued: July 9, 2021
Lagos, Nigeria

Share Buy-back programme renewal approved by the Securities and Exchange Commission

Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces that the Securities and Exchange Commission has approved the renewal of its share buy-back programme until January 21 2022.

The share buy-back programme will be executed under the approval granted by the Company’s shareholders at the Annual General Meeting of Dangote Cement PLC which was held on 26 May 2021, within the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s Rules and Regulations and under the approval of the Nigerian Exchange.

The share buy-back will be undertaken through an open market offer or self-tender, at such times and on such terms as the management of the Company may determine, subject to prevailing market conditions. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buy-back programme.

Signed:

Edward Imoedemhe
Deputy Company Secretary