Dangote Cement Plc’s (DANGCEM) financial scorecard in Q3:2019 showed clearly that the company has put the COVID-19 setback behind and, based on our estimates, is set to hit a record turnover by full year. On a standalone basis, group sales volume in Q3:2020 was higher by 23.92%YoY, thereby putting the total volumes sold in the quarter at 7.1MT (vs 5.7MT in Q3:2019). This is due to improvements in sales volumes in both Nigerian and Pan- African operations. In Nigeria, a combination of strong local demand for cement, land border exports waiver, commencement of clinker exports via the Apapa Export Terminal and product promotion ensured the 39.86% YoY increase in sales volume in Q3:2020.
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