Dangote Cement posted a net profit of N503.2 billion in the 2024 financial year. It marks a 10 percent growth from the N455.6 billion recorded in 2023.
The group posted a revenue of N3.58 trillion in 2024, which was 62 percent higher than the N2.21 trillion recorded in 2023. With a gross profit of N1.9 trillion, Dangote’s Cement’s gross margin in 2024 was 54 percent. This corresponds with the 54 percent gross margin recorded in 2023 when the group had a gross profit of N1.2 trillion.
Dangote Cement reported an operating profit of N1.15 trillion in 2024, representing a 57% increase from the N734.3 billion recorded in 2023. However, the company faced significant financial pressures. Interest expenses amounted to N448.1 billion, while foreign exchange losses from its international operations reached N249 billion. As a result, total interest expenses for the year stood at N700 billion.