Dangote Cement Plc launched its Q3 2021 unaudited monetary consequence revealing development within the high and backside strains regardless of a decline in manufacturing ranges.
That is contained within the lately launched Q3 2021 monetary assertion on the web site of the Nigerian Alternate Group (NGX).
Income for the interval appreciated by 16.53% YoY in Q3 2021 from N284.59 billion within the corresponding interval of 2020 to N331.64 billion. This resulted in an combination income of N1.02 trillion for the 9-months of this 12 months.
- Gross Revenue for the interval grew by 20.59% from N169.47 billion recorded within the earlier 12 months to N204.37 billion within the interval below evaluation.
- Different Earnings surged by 66.62% from N698 billion in Q3 2020 to N1.16 billion within the interval below evaluation.
- Pre-Tax Revenue elevated by 13.86% from N109.11 billion within the earlier 12 months to N124.23 billion within the present interval.
- As of the tip of the evaluation interval, the corporate’s complete property have been valued at N2.25 trillion, reflecting a rise of N227.79 billion year-to-date.
- As well as, shareholders’ fairness recorded a rise of N14.25 billion YTD to face at N905.22 billion.
What this implies
Looking on the firm’s manufacturing quantity for cement and clinker through the interval, we see a decline in manufacturing ranges quarter on quarter. The manufacturing of cement and clinker for the interval stood at 6.56 million tonnes, declining YoY by 158,000 tonnes, in comparison with the amount produced in Q3 2020.
In the identical vein, additional analyses reveal that quarter-on-quarter quantity additionally depreciated by 1.24 million tonnes from 7.80 million tonnes produced in Q2 2021 to N6.56 million tonnes in Q3 2021.
Whereas manufacturing ranges for the interval declined, there was a rise in gross earnings which means that income development might be as a result of improve within the value of cement through the interval below evaluation.
Recall that studies of cement value increment have been recorded in August from N2,700 earlier within the 12 months, to round N3,500 as of August. The value of cement additional elevated to N3,800 on the finish of September and N4,000 in mid-October. Cement retailers attributed the rise in value to the shortage of the product round a number of elements of the nation.
Contemplating that manufacturing price of gross sales grew through the interval by 10.56% regardless of a decline in manufacturing quantity, there’s a sturdy indication that the price of uncooked supplies additionally elevated within the evaluation interval.
What it is best to know
Dangote Cement Plc has a guide worth per share of N53.12, a value to guide worth of 5.27x and a P/E ratio of 55.78x.
Dangote Cement Plc is presently buying and selling at N280.00 per share and its market capitalization stands at N4.77 trillion as at Thursday, October 29, 2021. 12 months-to-date efficiency reveals that the share value of the corporate has gained 14.33%.