Dangote Cement Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	363,952	449,831	447,097	283,843	339,843	145,835
Cash & Short-Term Investments	363,952	449,831	447,097	283,843	339,843	145,835
Cash Growth	-31.49%	0.61%	57.52%	-16.48%	133.03%	17.70%
Accounts Receivable	452,393	418,266	303,794	184,698	156,115	126,058
Other Receivables	144,100	79,111	53,536	26,361	34,567	34,676
Receivables	600,289	500,163	419,253	355,728	241,235	232,686
Inventory	821,741	755,679	428,875	257,850	184,260	143,132
Prepaid Expenses	20,481	14,913	9,221	3,836	3,707	10,757
Other Current Assets	178,015	190,435	104,568	122,204	103,997	17,728
Total Current Assets	1,984,478	1,911,021	1,409,014	1,023,461	873,042	550,138
Property, Plant & Equipment	3,665,870	3,341,751	2,434,847	1,550,844	1,491,425	1,403,281
Long-Term Investments	729	3,005	2,607	2,580	6,528	5,711
Other Intangible Assets	18,194	17,003	12,356	6,225	5,122	4,554
Long-Term Accounts Receivable	21,090	16,877	14,656	17,085	5,980	9,846
Long-Term Deferred Tax Assets	19,417	19,426	25,933	14,193	5,163	11,708
Other Long-Term Assets	31,541	1,094,155	39,312	1,267	4,759	37,213
Total Assets	5,741,319	6,403,238	3,938,725	2,615,655	2,392,019	2,022,451
Accounts Payable	528,827	550,957	373,787	192,826	253,778	139,558
Accrued Expenses	239,707	225,551	157,019	84,713	84,186	71,158
Short-Term Debt	184,289	318,115	14,946	156,692	137,250	172,186
Current Portion of Long-Term Debt	845,446	927,066	609,310	235,686	264,143	162,825
Current Portion of Leases	5,274	5,860	4,099	1,713	2,187	2,073
Current Income Taxes Payable	322,271	183,160	174,287	167,971	153,385	59,781
Current Unearned Revenue	133,877	153,730	157,719	110,285	94,881	69,263
Other Current Liabilities	367,110	205,145	121,465	71,799	86,673	152,973
Total Current Liabilities	2,626,801	2,569,584	1,612,632	1,021,685	1,076,483	829,817
Long-Term Debt	363,191	1,386,383	388,364	333,498	176,562	158,908
Long-Term Leases	27,315	26,317	16,505	8,057	8,019	7,772
Long-Term Unearned Revenue	794	756	510	320	636	374
Pension & Post-Retirement Benefits	20,075	16,600	12,191	8,547	3,219	3,581
Long-Term Deferred Tax Liabilities	227,702	196,422	161,483	154,026	135,003	122,980
Other Long-Term Liabilities	39,499	31,931	21,200	10,575	8,428	8,049
Total Liabilities	3,305,377	4,227,993	2,212,885	1,536,708	1,408,350	1,131,481
Common Stock	8,437	8,437	8,520	8,520	8,520	8,520
Additional Paid-In Capital	42,014	42,014	42,430	42,430	42,430	42,430
Retained Earnings	1,270,821	1,027,046	1,098,626	969,478	868,274	779,271
Treasury Stock	-41,423	-41,423	-86,579	-45,156	-9,833	-9,833
Comprehensive Income & Other	1,087,666	1,085,969	628,037	79,097	55,979	55,558
Total Common Equity	2,367,515	2,122,043	1,691,034	1,054,369	965,370	875,946
Minority Interest	68,427	53,202	34,806	24,578	18,299	15,024
Shareholders' Equity	2,435,942	2,175,245	1,725,840	1,078,947	983,669	890,970
Total Liabilities & Equity	5,741,319	6,403,238	3,938,725	2,615,655	2,392,019	2,022,451
Total Debt	1,425,515	2,663,741	1,033,224	735,646	588,161	503,764
Net Cash (Debt)	-1,061,563	-2,213,910	-586,127	-451,803	-248,318	-357,929
Net Cash Per Share	-63.37	-132.16	-34.85	-26.77	-14.61	-21.01
Filing Date Shares Outstanding	16,752	16,752	16,752	16,874	17,000	17,000
Total Common Shares Outstanding	16,752	16,752	16,752	16,874	17,000	17,000
Working Capital	-642,323	-658,563	-203,618	1,776	-203,441	-279,679
Book Value Per Share	141.33	126.67	100.94	62.49	56.79	51.53
Tangible Book Value	2,349,321	2,105,040	1,678,678	1,048,144	960,248	871,392
Tangible Book Value Per Share	140.24	125.66	100.21	62.12	56.48	51.26
Land	74,299	-	-	-	-	-
Buildings	757,364	732,637	501,389	276,760	-	-
Machinery	4,278,470	4,080,059	3,092,543	1,900,358	1,507,785	1,452,640
Construction In Progress	820,681	487,030	259,318	198,327	378,939	269,306
Leasehold Improvements	-	75,468	84,710	44,387	281,115	261,999

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.