Dangote Cement: Rising energy costs, FX losses pressure Q2 22 earnings
Adebayo Adebanjo
2 Aug 2022 · Results First Look
Dangote Cement: Rising energy costs, FX losses pressure Q2 22 earnings
Dangote Cement(DANGCEM) released its Q2 22 unaudited results on Sunday (31 July). The group reported EPS decline of 33.8% y/y in Q2 22, culminating in a fall in H1 22 EPS by 9.9% y/y.
The earnings slump was mainly driven by elevated cost pressures and increased interest expenses. As a result, when annualised, the achieved EPS is below our and consensus forecasts for FY 22 by 14.5% and 20.9%.
The market's reaction to the results has been neutral. Year-to-date, the stock is up 3.1%
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