Dangote Cement stock reports 21.4 percent H1 revenue growth

Published on 09/29/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Dangote Cement stock reached NGN 1,066.70 on September 28, 2026, while H1 revenue rose 21.4 percent to NGN 2.513 trillion. Profit after tax increased 22.7 percent.

DANGCEM, NGDANGCEM008, Illustration mit AI erstellt.

Dangote Cement stock (ISIN NGDANGCEM008) stood at NGN 1,066.70 on the Lagos exchange on September 28, 2026, while the company delivered 21.4 percent revenue growth in the first half of 2026. The earnings profile combines higher sales with continued pressure from energy and logistics costs.

Revenue reaches NGN 2.513 trillion

BusinessDay reported on September 1, 2026, that Dangote Cement generated NGN 2.513 trillion in H1 2026 revenue. Profit after tax rose 22.7 percent to NGN 638.5 billion, showing that earnings growth kept pace with the larger top line.

IntelliNews reported on September 28, 2026, that EBITDA increased 25.8 percent and group cement and clinker sales volumes rose 11.8 percent to 14.9 million tonnes in the same period.

Margins face a capacity test

The operating picture is less uniform across Dangote Cement's markets. Pan-African volumes increased 19 percent to 5.95 million tonnes in H1 2026, while segment EBITDA was broadly flat and the margin fell to 17.6 percent from 20.1 percent, according to IntelliNews.

Capacity expansion therefore remains a key investor variable. The company targets installed capacity of 80 million tonnes a year by 2030, while higher fuel and transport costs can limit how much of the revenue growth reaches operating profit.

Analyst target stays above NGN 1,200

The average 12-month analyst price target is NGN 1,217.20, versus NGN 1,066.70 on September 28, 2026. That target stands 14.11 percent above the quoted price, according to Investing.com, which lists five analyst ratings and an overall Buy consensus.

The market capitalization was NGN 17.9 trillion on September 28, 2026. The 52-week range was NGN 525.10 to NGN 1,189.00, leaving the stock below its yearly high while the H1 figures provide a concrete test for valuation.

Results date points to November

Investing.com lists November 2, 2026, as the next Dangote Cement earnings date. The coming report will show whether volume growth and pricing can offset the cost and margin pressures visible in the first half.