Dangote Cement Plc Annual Report 2021
Chairman's statement
Creating value
"The Dangote Way"
Aliko Dangote
Chairman
"We are resolute in transforming
Africa, while creating
sustainable value for our
stakeholders."
Dear fellow stakeholders
I am pleased to welcome you to the 13th Annual General Meeting
of Dangote Cement Plc. It is an honour to be here with you today
to present yet another unprecedented result, albeit the challenges
brought by the lingering pandemic. 2021 was undoubtedly a
transformative year, as the world adjusted to living with COVID-19;
economic recovery emerged from the 2020 recession. Sub-
Saharan Africa was not left behind, growing at 4.5%, markedly
improving from the 1.9% contraction in 2020. This economic
rebound, infrastructural deficit and rapid urbanisation drove the
double-digit cement demand we experienced in 2021.
Over the last decade, Dangote Cement has recorded exponential
growth across all areas. Group volumes are now at almost 30Mta,
our capacity has tripled to 51.6Mta and we export cement from
five countries across Africa. As the volatile global environment
propels us into a new era of uncertainties, we are fortunate that
the last two years have taught us resilience, adaptability and grit.
These values are what we need to face unpredictable times in
the future.
Dangote Cement remains the leading cement company in Africa,
well-positioned for a positive and sustainable future. We are
resolute in transforming Africa, while creating sustainable value
for our stakeholders. I am confident that we are well equipped for
our next growth journey.
The year under review
Dangote Cement achieved its highest profit before tax in the
Company's history at #538.4 billion. As mentioned earlier, cement
demand was robust and we recorded Group volumes of 29.3Mta,
up 13.8%. Our exceptional EBITDA of #684.6 billion was up 43.2%,
owing to our strong cost control measures. Over the last decade,
EBITDA has grown by a compound annual growth rate of 18%,
implying a fivefold increase and revealing a true growth story.
Due to this robust performance, the Board has recommended a
dividend of 20.00 per ordinary 50 kobo share for your approval.
This represents a 25% increase in dividend compared to the 2020
dividend of #16.00 per share, reinforcing our commitment to
maximising shareholder value. If approved at the Annual General
Meeting on 14th June 2022, it will be payable to shareholders
whose names are on the Company's register at the close of
business on 30th May 2022.
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