Dangote Cement reported an increase in overall cement sales of 6.2 percent to 20.8metric tonnes for the third quarter of 2022. This was accomplished in spite of the elevated inflation brought on by the unstable global economy.
The business said that in addition to commissioning its power plant at Okpella, it is making good work on the deployment of grinding plants in Ghana and Cote d’Ivoire, which would further boost the supply of cement across its operational base.
Dangote Cement’s Chief Executive Officer, Michel Puchercos, made this announcement at the weekend while presenting the third quarter results to the Nigerian Stock Exchange. He continued, “To lessen the effects of the significant increase in energy and AGO costs, we are stepping up the use of alternative fuels.
“So far this year, we have co-processed 101,553 tonnes of waste representing a 77% increase over 9M 2021. We are on track to commission our Alternative Fuel feed system at Obajana lines I and V, and Ibese line II in November. In addition, we are ramping up our investment in Compressed Natural Gas (CNG), to reduce our AGO usage”
In support of this, he said that the company’s sales increased by 1.177.3 billion, or 15.2%, over the prior year, and Group EBITDA increased by 5.15 billion, or 0.2%, for an EBITDA margin of 43.8%.
