In H1:2023, Dangote Cement Plc (DANGCEM) reported a +17.67% growth in revenue to NGN950.83bn. Still recovering from the general contractions of the cement sector following the negative effect of the Naira redesign in Q1:2023, the group’s largest topline contributor (c. 65%), its Nigerian operations recorded a 13.21% decline in its volume sold to 8,108 kilotons (vs 9,342 kilotons in H1:2022). Revenue in Q2:2023 standalone was higher (37.80% Q-o-Q) than that of Q1:2023, driven by higher sales volumes. This was despite the decline in capacity utilization to 23.00% (vs 26.49% in H1:2022).
