Financials Dangote Sugar Refinery Plc

Equities

End-of-day quote Nigerian S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
35.00 ^NGN	0.00%		-2.23%	-38.60%

Jul. 30	Dangote Sugar Refinery Plc Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI
Apr. 30	Dangote Sugar Refinery Plc Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	161,086	214,298	276,055	403,246	-	605,517	704,746	847,861
Change	-	33.03%	28.82%	46.07%	-100%	-	16.39%	20.31%
EBITDA ¹	36,214	52,566	48,292	92,142	-	72,692	110,194	129,806
Change	-	45.15%	-8.13%	90.8%	-100%	-	51.59%	17.8%
EBIT ¹	30,262	44,867	39,020	82,410	-	58,272	84,060	120,753
Change	-	48.26%	-13.03%	111.2%	-100%	-	44.26%	43.65%
Interest Paid ¹	-	-1,916	-5,211	-3,423	-	-256,492	-119,923	-67,011
Earnings before Tax (EBT) ¹	-	44,938	-	82,303	-	-266,202	-118,724	23,544
Change	-	-	-100%	-	-100%	-	55.4%	-
Net income ¹	22,448	29,765	22,058	54,738	-73,743	-184,162	-82,234	16,269
Change	-	32.59%	-25.89%	148.15%	-	-149.74%	55.35%	-
Announcement Date	5/30/20	3/1/21	3/3/22	3/2/23	3/2/24	-	-	-

¹NGN in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-23,266	-43,681	-102,025	-174,083	-	-224,871	-261,709	-265,985
Change	-	-287.75%	-333.57%	-270.63%	-	-	-216.38%	-201.63%
Announcement Date	5/30/20	3/1/21	3/3/22	3/2/23	3/2/24	-	-	-

¹NGN in Million

Estimates

Fiscal Period: December	2019	2020	2022	2024	2025	2026
CAPEX ¹	21,797	26,860	26,152	32,088	45,746	51,822
Change	-	23.23%	-	-	42.57%	13.28%
Free Cash Flow (FCF) ¹	16,558	33,612	79,235	41,416	20,840	62,987
Change	-	103%	-	-	-49.68%	202.24%
Announcement Date	5/30/20	3/1/21	3/2/23	-	-	-

¹NGN in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	22.48%	24.53%	17.49%	22.85%	-	12%	15.64%	15.31%
EBIT Margin (%)	18.79%	20.94%	14.13%	20.44%	-	9.62%	11.93%	14.24%
EBT Margin (%)	-	20.97%	-	20.41%	-	-43.96%	-16.85%	2.78%
Net margin (%)	13.94%	13.89%	7.99%	13.57%	-	-30.41%	-11.67%	1.92%
FCF margin (%)	10.28%	15.68%	-	19.65%	-	6.84%	2.96%	7.43%
FCF / Net Income (%)	73.76%	112.93%	-	144.75%	-	-22.49%	-25.34%	387.16%
Profitability
ROA	12.17%	12.62%	6.92%	12.85%	-	-13.47%	-1.76%	5.94%
ROE	21.59%	25.52%	17.41%	36.51%	-	-62%	95.8%	107%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	13.53%	12.53%	-	6.49%	-	5.3%	6.49%	6.11%
CAPEX / EBITDA (%)	60.19%	51.1%	-	28.38%	-	44.14%	41.51%	39.92%
CAPEX / FCF (%)	131.64%	79.91%	-	33.01%	-	77.48%	219.51%	82.27%
Items per share
Cash flow per share ¹	-	4.98	-	-	-	-0.57	-	-0.88
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	1.1	1.5	1	1.5	-	-	1.09	1.98
Change	-	36.36%	-33.33%	50%	-	-	-	81.65%
Book Value Per Share ¹	-	10.27	-	14.1	-	-0.325	-1.355	-0.23
Change	-	-	-	-	-	-	316.92%	-83.03%
EPS ¹	1.87	2.45	1.82	4.51	-6.07	-15.16	-6.77	1.34
Change	-	31.02%	-25.71%	147.8%	-234.59%	149.75%	-55.34%	-119.79%
Nbr of stocks (in thousands)	12,000,000	12,000,000	12,146,878	12,146,878	12,146,878	12,146,878	12,146,878	12,146,878
Announcement Date	5/30/20	3/1/21	3/3/22	3/2/23	3/2/24	-	-	-