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.
