Dangote Cement to Launch N300bn Bond Issuance
Detailed Breakdown:
Dangote Cement Plc has revealed plans to issue its Series I bonds as part of its N300 billion multi-instrument issuance programme.
Key Highlights:
1. Board Approval Secured
The company has obtained approval from its Board of Directors to seek medium to long-term debt funding through the domestic capital markets.
2. Application and Approvals
• An application was filed with the Securities and Exchange Commission (SEC).
• Relevant approvals for the bond issuance have been granted.
3. Proceeds Utilization
• Refinancing existing debt.
• Supporting working capital needs.
4. Market Conditions
The bonds are set to be issued shortly, contingent on favourable market conditions.
Financial Performance:
• Revenue Growth
In the first nine months of 2024, Dangote Cement recorded a revenue of ₦2.5 trillion, a 69.1% increase from ₦1.5 trillion in the same period in 2023.
• Sales Volume
• Nigerian sales volume rose by 9.5%.
• Pan-African market sales dropped by 1.6%.
• EBITDA Growth
Group EBITDA rose by 37.1% to ₦908.69 billion, with notable increases in:
• Nigeria: ₦506.11 billion (+37.25%)
• Pan-Africa: ₦170.01 billion (+45.35%)
• Net Profit
After-tax profit saw a modest rise of 0.55%, reaching ₦279.09 billion compared to ₦277.5 billion in 2023.
• Cost of Sales
Increased by 92%, climbing to ₦1.2 trillion from ₦642 billion in 2023.
CEO’s Statement
Arvind Pathak, CEO of Dangote Cement, highlighted the company’s strong performance across key metrics, driven by its strategic focus and a rebound in the Nigerian market.
This issuance is a significant move by the company, reflecting its commitment to maintaining financial stability and driving growth across operations.
️ Stay tuned as this bold step unfolds!
Detailed Breakdown:
Dangote Cement Plc has revealed plans to issue its Series I bonds as part of its N300 billion multi-instrument issuance programme.
Key Highlights:
1. Board Approval Secured
The company has obtained approval from its Board of Directors to seek medium to long-term debt funding through the domestic capital markets.
2. Application and Approvals
• An application was filed with the Securities and Exchange Commission (SEC).
• Relevant approvals for the bond issuance have been granted.
3. Proceeds Utilization
• Refinancing existing debt.
• Supporting working capital needs.
4. Market Conditions
The bonds are set to be issued shortly, contingent on favourable market conditions.
Financial Performance:
• Revenue Growth
In the first nine months of 2024, Dangote Cement recorded a revenue of ₦2.5 trillion, a 69.1% increase from ₦1.5 trillion in the same period in 2023.
• Sales Volume
• Nigerian sales volume rose by 9.5%.
• Pan-African market sales dropped by 1.6%.
• EBITDA Growth
Group EBITDA rose by 37.1% to ₦908.69 billion, with notable increases in:
• Nigeria: ₦506.11 billion (+37.25%)
• Pan-Africa: ₦170.01 billion (+45.35%)
• Net Profit
After-tax profit saw a modest rise of 0.55%, reaching ₦279.09 billion compared to ₦277.5 billion in 2023.
• Cost of Sales
Increased by 92%, climbing to ₦1.2 trillion from ₦642 billion in 2023.
CEO’s Statement
Arvind Pathak, CEO of Dangote Cement, highlighted the company’s strong performance across key metrics, driven by its strategic focus and a rebound in the Nigerian market.
This issuance is a significant move by the company, reflecting its commitment to maintaining financial stability and driving growth across operations.
️ Stay tuned as this bold step unfolds!