Les Ciments de Bizerte has published its interim financial statements for the six months ended June 30, 2024.
These statements show a half-year net loss of 26.8 million dinars, compared to a net loss of 17.3 million dinars at the end of June 2023.
During the first half of 2024, activity was below normal production capacity.
The cost of this under-activity was 11.3 million dinars for production sold and 0.3 million dinars for inventories.
At the end of the first six months of the current year, the company’s revenues decreased by 59% to 19.5 million dinars compared to 48.2 million dinars in the previous year.
The company recorded a negative gross margin of -1.8 million dinars in the first half of FY2024, compared to a positive margin of 1 million dinars in the same period of FY2023.
This negative gross margin is mainly due to the cessation of clinker production in the first half of 2024.
In order to ensure business continuity and to maintain its customers and local market share, the Company has resorted to the purchase of 81,397 tons of clinker in the first half of 2024 and has decided to purchase 100,000 tons in the second half of 2024.
In addition, a review of the tax-related accounts resulted in the recognition of an additional provision for tax risk of 1.6 million dinars, following the failure to file monthly tax returns due to the decline in revenues and the company’s poor financial situation.
