Dangote Cement

Dangote Cement Plc
Public
Traded as NSE: DANGCEM
Industry Building materials
Predecessor
  • Obajana Cement Plc
Founded 1992
Headquarters Lagos, Lagos State, Nigeria
Key people
Products Cement
Revenue
  • Increase NGN₦386 billion (2013)
  • ₦298 billion (2012)
  • ₦235 billion (2011)
  • Increase ₦243.7 billion (2013)
  • ₦135 billion (2012)
  • ₦118 billion (2011)
Profit
  • Increase ₦201 billion (2013)
  • ₦149 billion (2012)
  • ₦120 billion (2011)
Total assets
  • Increase ₦843 billion (2013)
  • ₦673 billion (2012)
  • ₦526 billion (2011)
Total equity
  • Increase ₦550 billion (2012)
  • ₦420 billion (2012)
  • ₦290 billion (2011)
Number of employees
  • Increase 4,477 (2012)
  • 3,428 (2012)
  • 2,854 (2011)
Parent Dangote Group
Subsidiaries Sephaku Cement
Website dangotecement.com
Footnotes / references
[1][2][3]

Dangote Cement Plc is a Nigerian multinational publicly traded cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products across the African continent. Dangote Cement Plc was formerly known as Obajana Cement Plc and changed its name to Dangote Cement Plc in July 2010. Obajana Cement Plc was incorporated in 1992. Dangote Cement Plc is a subsidiary of Dangote Industries Limited and is the largest company traded on the Nigerian Stock Exchange. In 2013, the company produced and sold 13.3 million metric tonnes of cement, with revenues of US$2.4 billion.[1] As of 2014, Dangote Cement had a market capitalization of $20 billion.[4] In 2012, Forbes Africa named Dangote Cement as one of the top five listed companies in West Africa.[5]

Overview

Dangote Cement is Nigeria's largest cement producer with three plants in Nigeria and plans to expand in 13 other African countries. The company is a fully integrated quarry-to-depot producer with production capacity of 19.25mmtpa in Nigeria at the end of 2012. The company plans to build a further 19mmtpa of production, grinding and import capacity across Africa, expected to be operational by the end of 2015.[2]

The Dangote Cement plant in Obajana, Kogi, is the largest in Sub-Saharan Africa with 10.25mmtpa capacity across three lines and a further 3mmtpa capacity currently being built. In 2012, the firm opened a $1 billion cement plant in Ibese, Ogun. The facility is capable of producing 6 million metric tonnes of cement per year, raising the company's total production by 40 percent at the time.[6] The plant was installed by the Chinese construction and engineering firm Sinoma, and represents one of the largest non-oil investments in Nigeria.[7] The company's plant in Gboko, Benue has 3mmtpa capacity with an upgrade to 4mmtpa planned in 2013.[2]

A plant in Senegal along with a plant in Tanzania opened in 2015.[8]

Future plans

Dangote Cement is investing several billion dollars to build manufacturing plants and import terminals across Africa. Current plans are for integrated or grinding plants in Cameroon, Ethiopia, Republic of Congo, Liberia, Senegal, South Africa, Tanzania, Kenya and Zambia, as well as Ivory Coast and Ghana, and import/packing facilities in Ghana and Sierra Leone.[1] It has also plans for installing a cement plant in Nepal.

Dangote Cement listed on the Nigerian Stock Exchange in October 2010 and as at August 13, 2014 accounts for 20% of the total market capitalization of the Nigerian Stock Exchange. Plans are in the works to list the company on the London Stock Exchange, although analysts say the company will face significant challenges.[9] Aliko Dangote has invested US$6.5 billion into the company between 2007 and 2012. Cement accounted for roughly 80 percent of Dangote Group's business as of 2011.[10]

See also

References

  1. 1 2 3 "CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS 31 DECEMBER 2013" (PDF). Dangote Cement Plc.
  2. 1 2 3 "Audited Results for the year ending 31 December 2012" (PDF). Dangote Cement Plc.
  3. ↑ "Dangote Cement 2011 Annual Report" (PDF). Dangote Cement Plc.
  4. ↑ "Dangote Cement Forbes Global 2000". Forbes.
  5. ↑ "Dangote Cement, Zenith Bank, ETI top Forbes list of W/African companies". Channels Television. June 22, 2012. Retrieved June 22, 2012.
  6. ↑ "Nigeria's Dangote Cement opens new $1 bln plant". Reuters. February 9, 2012. Retrieved June 22, 2012.
  7. ↑ "Aliko Dangote opens Nigeria's biggest cement plant". BBC News. June 11, 2012. Retrieved June 22, 2012.
  8. ↑ http://www.punchng.com/business/business-economy/dangote-cement-begins-operation-in-senegal/
  9. ↑ Tim Cocks (June 11, 2012). "Nigeria's Dangote expands his "cement powerhouse"". Reuters. Retrieved June 12, 2012.
  10. ↑ Emma Ujah (October 17, 2011). "Dangote Cement capitalisation hits $15 billion, says Paramjit". Vanguard Nigeria. Retrieved June 22, 2012.
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