Dangote Cement Plc has reported a 31.2% increase in profit after tax to a record N974.8 billion for the nine months ended September 30, 2026, compared with N743.3 billion recorded in the corresponding period of 2025.
The cement manufacturer disclosed this in its unaudited financial results released on Wednesday, October 28, 2026, showing that group revenue increased by 19.6% to N3.77 trillion from N3.15 trillion a year earlier.
Profit before tax rose by 41.5% to N1.47 trillion, while earnings per share advanced by 33.2% to N58.37 from N43.82.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 23.7% to N1.77 trillion, with its EBITDA margin improving to 46.8% from 45.3%.
Dangote Cement attributed the stronger financial performance to higher sales volumes, improved operational efficiency, lower financing costs and investments in alternative energy.
Group cement and clinker sales volumes rose by 9.4% to 22.1 million tonnes, supported by growth in Nigerian operations and a recovery across its African markets.
Revenue from Nigeria increased by 22.5% to N2.67 trillion, while domestic sales volumes climbed 6.4% to 14.1 million tonnes.
The company’s Pan-African operations recorded a 14% increase in sales volumes to 9.1 million tonnes, with revenue rising 12.6% to N1.19 trillion.
Exports of cement and clinker from Nigeria increased by 41.8% to 1.5 million tonnes, supported by shipments to Ghana, Cameroon and Côte d’Ivoire.
Beyond revenue growth, Dangote Cement recorded a significant improvement in its financial position.
Operating cash flow increased by 41.5% to N1.83 trillion, enabling the company to reduce borrowings and move from a net debt position of N682.9 billion at the end of December 2025 to a net cash position of N51.1 billion by September 2026.
The company also generated N1.26 trillion in free cash flow during the period, compared with dividend payments of N753.8 billion.
Chief Executive Officer Arvind Pathak said the results reflected stronger operating performance, improved cash generation and progress in the company’s debt reduction strategy.
Meanwhile, Dangote Cement confirmed that construction of the first phase of its six-million-tonne-per-annum Itori cement plant was approaching completion.
The facility is expected to begin contributing production volumes in 2027 as the company works towards its medium-term target of 80 million tonnes in installed annual capacity.
For the final quarter of 2026, management expects continued sales growth, supported by construction demand, export activity and improved production efficiency.