The chemical company ALKIMIA has recorded a 36% drop in its turnover at March 31, 2023 compared to the first quarter of 2022, according to the company’s quarterly activity indicators published by the Tunis Stock Exchange.
This decrease is explained by lower sales volume in its two products (sodium tripolyphosphate and crystallized MAP), due in particular to the over-invoicing of the two main raw materials, phosphoric acid and ammonia, by the Tunisian Chemical Group, which led to the company’s loss of competitiveness vis-à-vis competitors who have access to these raw materials under normal market conditions.
According to the same source, production at March 31, 2023 reached 7,126 tons, including 5380 tons of sodium tripolyphosphate (STPP) and 1746 tons of crystalline monoammonium phosphate (MAP), compared with 17200 tons of STPP produced in the first quarter of 2022, a decrease of 45.5%.
This level of production is explained by the fall in demand on the international market and the loss of major customers following the various declarations of force majeure by the Tunisian Chemical Group, which have led to the forced shutdown of production units for lack of phosphoric acid over the last seven years.
The prices of raw materials, in particular phosphoric acid, ammonia and sodium carbonate, began to fall at the beginning of 2023, which should improve the company’s competitiveness and boost its production and sales in the coming months.
The implementation of the first phase of the company’s restructuring plan began following the decision of the company’s Extraordinary General Meeting on December 29,2002 to increase the company’s capital by TND 20,000,000.
Subscriptions and payment of the first quarter related to this increase are underway and the first start-up of the NPK (fertilizer) unit project is imminent, according to the Tunis Stock Exchange.