Tunisia: Carthage Cement gets back on track in Q2 of 2025
This dynamic partially corrected the decline observed in the first quarter, despite half-year revenue still falling short compared to the previous year.
Revenue for the second quarter of 2025 rose by 3%, reaching 103.6 million dinars, compared to 101 million in the same quarter of 2024.
This improvement softened the poor performance at the start of the year but did not reach the levels achieved in 2024.
Thus, as of June 30, 2025, cumulative revenue amounted to 183.5 million dinars, compared to 212.9 million dinars a year earlier, representing a 14% year-on-year decline.
The cement activity, the core business of Carthage Cement, showed signs of resilience, especially internationally.
Export sales experienced a spectacular increase of 125% in the second quarter (22.1 million dinars vs. 9.8 million in 2024).
This brought export revenue to 32.6 million dinars as of June 30, 2025, a 50% increase year-on-year. This performance reflects the company's increased competitiveness in foreign markets.
On the other hand, on the local market, half-year revenue dropped by 24%, reaching 133.5 million dinars, compared to 175 million a year earlier, in a constrained national economic context.
On the production side, clinker recorded an 8% increase in the second quarter, but remained down 5% over the half-year. Cement production, for its part, decreased by 19% as of June 30.
The aggregates activity began to recover in the second quarter, driven by increased demand. Production rose by 5%, reaching 1.145 million tons, while half-year revenue increased by 4%, to 12 million dinars.
The ready-mix concrete activity continues to expand, with cumulative production of 31,441 m³ as of June 30, 2025, an 8% increase compared to last year. The associated revenue grew by 17%, reaching 5.3 million dinars.
Furthermore, Carthage Cement invested 12.8 million dinars during the first half of the year, while debt stood at 293.5 million dinars, down 8% compared to the end of 2024, reflecting prudent liability management.
In addition, bank deposits totaled 40.4 million dinars, reflecting a stabilized cash position.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
African Manager
3 days ago
- African Manager
Tunisia-China trade volume rises by 8%
Trade between Tunisia and China reached approximately 9.2 billion dinars in 2024, an increase of 8% compared to 2023, according to the Export Promotion Center (CEPEX). However, the untapped export potential to China is estimated at 214 million dollars (approximately 613.5 million dinars), including 20 million dollars (about 57.3 million dinars) for olive oil, 15 million dollars (about 43 million dinars) for seafood products and 2.5 million dollars (about 7 million dinars) for dates. This highlights the opportunities to be seized in this market to reduce the trade deficit and promote balanced trade between the two countries, according to the same source. A high-level delegation from 'Wuhan Yangluo Port Services Group', a Chinese group specialized in the fields of international trade, logistics, finance, and investment, is currently visiting Tunisia, until July 29. This visit aims to explore partnership and investment opportunities in the Tunisian market, both in terms of importing Tunisian products and developing investment projects in promising sectors, said the executive director of the Chinese group, Xu Baowei. B2B meetings were organized by CEPEX between the members of the delegation and 25 Tunisian companies with strong export potential to China.
African Manager
3 days ago
- African Manager
Taraji Holding and BNA Assurances: Two flagship listings to ignite stock market
The Tunis Stock Exchange is preparing to end 2025 under the sign of renewal, with the expected arrival of two new companies on the listing. These are Taraji Holding, the commercial subsidiary of the Espérance Sportive de Tunis club, and BNA Assurances, currently traded on the over-the-counter market. These operations are expected not only to bring market capitalization to a record level, but also to help revitalize a market that suffers from a lack of activity, both primary and secondary. The first listing concerns Taraji Holding, a public limited company controlled by the parent association Espérance Sportive de Tunis. With a post-capital-increase valuation estimated at 130 million dinars, this listing is a first in Tunisia. It marks the emergence of a new segment on the Stock Exchange, linking professional sports with market financing. This operation could serve as a model for other sports or cultural entities wishing to structure their commercial activities as companies and open their capital to public savings. The second listing is that of BNA Assurances, a subsidiary of the BNA group, with an indicative capitalization of 285 million dinars. Its listing will be done via a direct registration procedure, an option provided by regulations for companies already traded on an electronic system, as is the case here. This operation will allow for better valuation of the stock, increased visibility, and a broader investor base, while also reinforcing the representation of the insurance sector in the official listing. To date, the Tunis Stock Exchange includes 74 listed companies, representing a capitalization of 30.5 billion dinars, or about 17.3% of GDP. The arrival of Taraji Holding and BNA Assurances will bring this total to 76 companies with an estimated capitalization of 31 billion dinars, thus establishing a new all-time high. For the record, the market crossed the symbolic 30 billion dinar threshold for the first time on July 4, 2025. Beyond the size effect, these two listings have strategic significance. They breathe new life into a primary market segment that has remained relatively inactive in recent years and could create a ripple effect for other companies, especially public or family-owned, seeking financing or succession planning. At the same time, the broadening of the listing offers new opportunities to investors and increases potential liquidity in the secondary market. In short, these two operations revive the attractiveness of the Tunis marketplace by bringing both diversification, visibility, and a signal of confidence in the role the Stock Exchange can play in financing the real economy. At the referee's whistle, the two teams will enter the pitch side by side.
African Manager
3 days ago
- African Manager
Tunisia: Carthage Cement gets back on track in Q2 of 2025
At the end of the first half of 2025, Carthage Cement posted mixed performances, marked by an encouraging recovery in the second quarter, after a more difficult start to the year. This dynamic partially corrected the decline observed in the first quarter, despite half-year revenue still falling short compared to the previous year. Revenue for the second quarter of 2025 rose by 3%, reaching 103.6 million dinars, compared to 101 million in the same quarter of 2024. This improvement softened the poor performance at the start of the year but did not reach the levels achieved in 2024. Thus, as of June 30, 2025, cumulative revenue amounted to 183.5 million dinars, compared to 212.9 million dinars a year earlier, representing a 14% year-on-year decline. The cement activity, the core business of Carthage Cement, showed signs of resilience, especially internationally. Export sales experienced a spectacular increase of 125% in the second quarter (22.1 million dinars vs. 9.8 million in 2024). This brought export revenue to 32.6 million dinars as of June 30, 2025, a 50% increase year-on-year. This performance reflects the company's increased competitiveness in foreign markets. On the other hand, on the local market, half-year revenue dropped by 24%, reaching 133.5 million dinars, compared to 175 million a year earlier, in a constrained national economic context. On the production side, clinker recorded an 8% increase in the second quarter, but remained down 5% over the half-year. Cement production, for its part, decreased by 19% as of June 30. The aggregates activity began to recover in the second quarter, driven by increased demand. Production rose by 5%, reaching 1.145 million tons, while half-year revenue increased by 4%, to 12 million dinars. The ready-mix concrete activity continues to expand, with cumulative production of 31,441 m³ as of June 30, 2025, an 8% increase compared to last year. The associated revenue grew by 17%, reaching 5.3 million dinars. Furthermore, Carthage Cement invested 12.8 million dinars during the first half of the year, while debt stood at 293.5 million dinars, down 8% compared to the end of 2024, reflecting prudent liability management. In addition, bank deposits totaled 40.4 million dinars, reflecting a stabilized cash position.
