Dangote Sugar Refinery Plc recorded a robust rebound within the third quarter of 2025, posting a pre-tax revenue of N13.38 billion, a pointy turnaround from the N64.16 billion loss reported in Q3 2024.
This quarterly rebound helped trim the corporate’s nine-month loss to N8.7 billion in 2025, an enchancment from N275.5 billion within the earlier 12 months, in response to its unaudited outcomes.
A cursory look reveals that the improved outcomes have been pushed by regular income development, greater different earnings, and a major decline in finance prices relative to income.
Key Highlights (Q3 2025 VS Q3 2024)
- Income: N196.02 billion (Up 3.8% YoY from N188.80 billion)
- Gross Revenue: N38.38 billion (Up considerably YoY from N1.68 billion)
- Working Revenue: N43.02 billion (In comparison with a lack of N2.16 billion in Q3 2024)
- Finance Value: N30.61 billion (Down from N65.98 billion YoY)
- Revenue Earlier than Tax: N13.38 billion (In comparison with a lack of N64.16 billion YoY)
- Revenue After Tax: N13.68 billion (In comparison with a lack of N40.34 billion YoY)
Modest income development, sturdy margin rebound
Dangote Sugar’s Q3 2025 income rose by 3.8% year-on-year to N196.02 billion from N188.80 billion in the identical interval final 12 months, reflecting a modest development.
Nonetheless, the price of gross sales dropped to N157.64 billion in Q3 2025 from N187.12 billion a 12 months earlier. This sharp 15.8% decline in direct prices lifted gross revenue to N38.38 billion — a dramatic restoration from simply N1.68 billion in Q3 2024.
- Gross margin improved to 19.6%, up from a razor-thin 0.9% within the prior 12 months interval, reflecting value effectivity.
The outcomes present that whereas top-line development was modest, profitability rebounded strongly as the corporate maintained tight value management.
Working revenue rebounds after prior-year loss
Dangote Sugar recorded an working revenue of N43.02 billion in Q3 2025, in comparison with an working lack of N2.16 billion in the identical quarter final 12 months.
- Different earnings rose sharply to N12.49 billion from N461 million in Q3 2024, largely supported by change features.
Administrative bills elevated to N7.57 billion from N4.08 billion a 12 months earlier, whereas impairment expenses got here in at N134.4 million, up from N47.6 million.
Regardless of greater administrative prices, different earnings drove a stable swing to constructive working efficiency year-on-year.
Decrease finance prices drive revenue restoration
The group’s Q3 2025 revenue was boosted by a pointy drop in finance prices.
- Finance value fell 53.6% to N30.61 billion from N65.98 billion in Q3 2024, whereas finance earnings declined to N480.1 million from N2.69 billion.
- This resulted in a web finance value of N30.13 billion, down from N63.30 billion a 12 months earlier, easing strain on the underside line.
The corporate additionally recorded a good worth achieve of N497.8 million, barely under the N1.29 billion posted in Q3 2024.
Consequently, revenue earlier than tax rose to N13.38 billion in Q3 2025, reversing a lack of N64.16 billion in the identical quarter final 12 months. Revenue after tax additionally improved to N13.68 billion, in comparison with a lack of N40.34 billion in Q3 2024.
Steadiness sheet snapshot
Dangote Sugar’s steadiness sheet expanded throughout key property, although debt stays excessive.
- Complete property rose 52% year-on-year to N1.01 trillion, with property, plant, and tools of N615.6 billion accounting for the majority.
- Complete liabilities elevated 6% to N817.15 billion, primarily on account of greater lease obligations and commerce payables.
- Fairness improved to N198.46 billion from a adverse N105.11 billion final 12 months, supported by revaluation features.
As of October 31, 2025, the corporate’s shares have been priced at N60.50, reflecting a year-to-date achieve of 86%.
Be First to Comment