Dangote Cement Plc has delivered a solid start to the 2026 financial year, reporting a 35 per cent rise in profit before tax to N421.1 billion for the first quarter, compared to N311.9 billion in the corresponding period of 2025. The performance was driven by stronger sales volumes, improved pricing dynamics, and enhanced operational efficiency across its key markets.
Revenue for the period climbed to N1.19 trillion, up from N994.6 billion in Q1 2025, underscoring sustained demand for cement across Nigeria and other African markets where the company operates. Cement and clinker sales remained the backbone of earnings, contributing 99.99 percent of total revenue, reflecting the group’s continued reliance on its core industrial segment.
Earnings momentum was also reflected in improved shareholder returns, with earnings per share rising to N19.14 from N12.29 in the same period last year. Retained earnings increased to N1.8 trillion, compared with N1.5 trillion previously.
Despite inflationary pressures on production inputs, cost of sales increased by 10.18 per cent to N448.7 billion. However, the group maintained strong margin performance, lifting gross profit to N749.3 billion from N587.3 billion in Q1 2025. Operating profit also advanced to N506.1 billion, supported by revenue growth and disciplined cost management.
A notable improvement was recorded in financing efficiency, as finance costs declined to N98.2 billion from N129.3 billion, providing additional support to bottom-line expansion. After accounting for tax expenses of N100.06 billion, the company posted a profit after tax of N321.09 billion, compared with N209.2 billion in the previous year.
Production and sales volumes also strengthened during the period. Cement output rose to 7.4 million tonnes from 6.5 million tonnes, reflecting increased utilisation of production capacity and steady demand across regional markets. The improved operational output further reinforced revenue gains and scale efficiencies.
On the balance sheet, total assets remained broadly stable at N6.03 trillion, while total liabilities declined to N3.1 trillion, indicating a gradual strengthening of the company’s financial structure. Shareholders’ equity improved to N2.8 trillion, supported by higher retained earnings and sustained profitability.
Analysts note that the performance reinforces Dangote Cement’s position as Africa’s largest cement producer, benefiting from its scale advantage, regional diversification, and continued investment in capacity expansion. The results also highlight the resilience of the construction materials sector, which remains supported by infrastructure development and housing demand across key African economies.
Overall, the Q1 2026 results point to sustained operational strength, with improved margins, stronger cash generation, and a more resilient balance sheet positioning the company for continued growth in the year ahead.
