Dangote Cement 9M 2026 results: record profit, net cash balance

Dangote Cement PLC (DANGCEM) reported group revenue of ₦3,774.2B for the nine months ended 30 September 2026, a 19.6% increase year on year. Profit after tax rose 31.2% to a record ₦974.8B, while earnings per share climbed 33.2% to ₦58.37.

Group EBITDA grew 23.7% to ₦1,766.3B, producing a margin of 46.8%, up from 45.3% in the same period of 2025. Gross margin expanded 4.0 percentage points to 63.2%, as production costs rose 7.9% against revenue growth of 19.6%. Fuel and power costs increased only 2.0% despite 9.4% volume growth to 22.1 million tonnes.

Operating cash flow reached ₦1,826.6B, up 41.5%, enabling ₦539.0B in loan repayments and ₦753.8B in dividends, both funded from internal cash generation. The group moved from a net debt position of ₦682.9B at end-2025 to a net cash position of ₦51.1B.

Pan-African volumes rose 14.0% to 9.1Mt. Nigeria cement and clinker exports grew 41.8% to 1.5Mt across 26 shipments. Customer advances increased 45% to ₦208.4B. Construction of the 6Mta Itori plant phase 1 is described as being in its final stage.