Tunisia: Les Ciments de Bizerte records historic loss of 45 million dinars in 2024
The company has published its financial statements for the year ending December 31, 2024, pending approval by the Annual General Meeting.
The figures confirm a challenging year for the company, with activity well below normal production capacity and a concerning financial situation.
The cement plant experienced significant under-activity in 2024, resulting in production costs of 22.9 million dinars and inventory costs of 443,746 dinars.
This underperformance was mainly due to the stoppage of clinker production, an essential raw material in cement manufacture, throughout the year.
The consequences of this were swift: the cement manufacturer's sales collapsed to 27.8 million dinars, compared with 91.3 million dinars in 2023, down over 69%.
Consequently, the gross margin suffered, recording a deficit of 4.6 million dinars, down from an already negative margin of 2.6 million dinars in 2023.
In an attempt to maintain a presence on the local market and partially meet demand, the company purchased 114,128 tons of clinker in 2024.
However, these supplies did not compensate for the cessation of production, leaving the company unable to fulfill all its commitments.
Despite a slight decrease in financial expenses to 11.2 million dinars in 2024 compared to 14.1 million in 2023, Les Ciments de Bizerte recorded an all-time high net loss of 44.8 million dinars compared to a deficit of 34.3 million the previous year.
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Tunisia: Les Ciments de Bizerte records historic loss of 45 million dinars in 2024
The company has published its financial statements for the year ending December 31, 2024, pending approval by the Annual General Meeting. The figures confirm a challenging year for the company, with activity well below normal production capacity and a concerning financial situation. The cement plant experienced significant under-activity in 2024, resulting in production costs of 22.9 million dinars and inventory costs of 443,746 dinars. This underperformance was mainly due to the stoppage of clinker production, an essential raw material in cement manufacture, throughout the year. The consequences of this were swift: the cement manufacturer's sales collapsed to 27.8 million dinars, compared with 91.3 million dinars in 2023, down over 69%. Consequently, the gross margin suffered, recording a deficit of 4.6 million dinars, down from an already negative margin of 2.6 million dinars in 2023. In an attempt to maintain a presence on the local market and partially meet demand, the company purchased 114,128 tons of clinker in 2024. However, these supplies did not compensate for the cessation of production, leaving the company unable to fulfill all its commitments. Despite a slight decrease in financial expenses to 11.2 million dinars in 2024 compared to 14.1 million in 2023, Les Ciments de Bizerte recorded an all-time high net loss of 44.8 million dinars compared to a deficit of 34.3 million the previous year.
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