Dangote Cement Plc (NGX: DANGCEM)

Dangote Cement Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	3,017,313	2,208,090	1,618,323	1,383,637	1,034,196	891,671
Revenue Growth (YoY)	71.33%	36.44%	16.96%	33.79%	15.98%	-1.06%
Cost of Revenue	1,461,313	1,009,326	664,538	552,486	439,342	381,626
Gross Profit	1,556,000	1,198,764	953,785	831,151	594,854	510,045
Selling, General & Admin	690,603	487,888	371,493	253,202	210,836	213,251
Other Operating Expenses	-36,233	-20,495	-3,511	-5,342	-3,433	-2,560
Operating Expenses	654,370	467,393	367,982	248,201	209,197	210,691
Operating Income	901,630	731,371	585,803	582,950	385,657	299,354
Interest Expense	-225,881	-144,530	-75,242	-56,326	-43,971	-43,829
Interest & Investment Income	35,996	27,405	38,715	20,765	13,183	7,610
Earnings From Equity Investments	1,231	1,231	759	817	750	649
Currency Exchange Gain (Loss)	-251,752	-164,077	-53,929	-8,766	16,631	-13,481
Other Non Operating Income (Expenses)	140,772	98,808	27,823	-615	-17	-363
EBT Excluding Unusual Items	601,996	550,208	523,929	538,825	372,233	249,940
Gain (Loss) on Sale of Assets	2,447	2,447	21	378	-	-
Asset Writedown	-702	-702	-1,972	-1,338	-244	-71
Pretax Income	606,197	553,104	524,002	538,366	373,310	250,479
Income Tax Expense	139,313	97,521	141,691	173,927	97,242	49,958
Earnings From Continuing Operations	466,884	455,583	382,311	364,439	276,068	200,521
Minority Interest in Earnings	-8,369	-10,369	-6,323	-3,431	-988	414
Net Income	458,515	445,214	375,988	361,008	275,080	200,935
Net Income to Common	458,515	445,214	375,988	361,008	275,080	200,935
Net Income Growth	20.47%	18.41%	4.15%	31.24%	36.90%	-48.34%
Shares Outstanding (Basic)	16,757	16,818	16,880	17,000	17,040	17,041
Shares Outstanding (Diluted)	16,757	16,818	16,880	17,000	17,040	17,041
Shares Change (YoY)	-0.69%	-0.37%	-0.71%	-0.23%	-0.01%	-
EPS (Basic)	27.36	26.47	22.27	21.24	16.14	11.79
EPS (Diluted)	27.36	26.47	22.27	21.24	16.14	11.79
EPS Growth	21.30%	18.85%	4.89%	31.55%	36.91%	-48.34%
Free Cash Flow	547,638	538,568	313,222	438,201	301,515	249,073
Free Cash Flow Per Share	32.68	32.02	18.56	25.78	17.69	14.62
Dividend Per Share	30.000	30.000	20.000	20.000	16.000	16.000
Dividend Growth	50.00%	50.00%	0%	25.00%	0%	0%
Gross Margin	51.57%	54.29%	58.94%	60.07%	57.52%	57.20%
Operating Margin	29.88%	33.12%	36.20%	42.13%	37.29%	33.57%
Profit Margin	15.20%	20.16%	23.23%	26.09%	26.60%	22.53%
Free Cash Flow Margin	18.15%	24.39%	19.35%	31.67%	29.15%	27.93%
EBITDA	1,095,377	878,176	703,738	681,530	474,797	392,625
EBITDA Margin	36.30%	39.77%	43.49%	49.26%	45.91%	44.03%
D&A For EBITDA	193,747	146,805	117,935	98,580	89,140	93,271
EBIT	901,630	731,371	585,803	582,950	385,657	299,354
EBIT Margin	29.88%	33.12%	36.20%	42.13%	37.29%	33.57%
Effective Tax Rate	22.98%	17.63%	27.04%	32.31%	26.05%	19.94%
Advertising Expenses	-	7,797	7,514	3,206	12,178	8,597

Source: S&P Capital IQ. Standard template. Financial Sources.