Finance & EconomyNews

The Pay and Perks of Dangote Cement’s CEO

Revenue-to-CEO’s Pay

In 2021, Puchercos’ pay increased significantly by +18.53% from N448m to N531m, while the cement manufacturer recorded a noticeable increase in its revenue by +33.79%. The revenue-to-CEO’s pay in 2021 was N2,605.72, which means that Michael Puchercos generated N2,605.72 in return for every naira received as remuneration. In the year 2020, Dangote cement recorded growth in its CEO’s pay as there was a bounce back in the CEO’s pay which recorded an increase from N109m in 2019 to N448m in 2020


PBT-to-CEO’s Pay

Dangote Cement Plc retained its top position in terms of earnings in 2021, as it recorded a profit before tax of N538.37bn in 2021, while CEO pay in the same period was N531m. This implies that Michael Puchercos generated N1013 in earnings for each naira he received as remuneration 

Staff Cost

Dangote Cement’s staff cost flattened between 2020 and 2021, having risen steadily over the four preceding years. Dangote Cement recorded its slowest percentage growth in Staff cost in six years (+0.79%), in 2021. The company’s staff cost increased slightly from N72.25bn recorded in 2020 to N72.82bn recorded in 2021 

Staff Cost vs Revenue

In 2021, the cement company registered a +33.79% revenue growth from N1.034trn in 2020 to 1.38trn in 2021. Meanwhile staff cost recorded only a +0.79% increase from N72.25bn to N72.82trn. Over the six-year period between 2017 and 2021, staff cost, and revenue followed the same trajectory except for 2019 when revenue reduced by -1.06% while staff cost rose slightly by +9.61% 

PBT vs Staff cost 

In 2021, employee wages and salaries increased by +0.79% from N72.25m to N72.82m while PBT soared to N538.36m from N373.31m suggesting that PBT growth outpaced that of Staff remuneration. PBT and Staff cost of the company have always shown similar patterns except between 2018 and 2019 when staff cost rose by +9.61% and PBT reduced by -16.73% 

Staff Cost vs CEO’s Pay

In 2021, the cement maker recorded an +18.53% increase in CEO remuneration from N448m to N531m, while staff cost recorded only a +0.79% increase from N72.25bn to N72.82trn

Show More

Related Articles

Leave a Reply

Back to top button