Land’Or has published its business indicators for the third quarter of the current year.
Turnover for the first nine months of 2024 amounted to 140 million dinars, 3% lower than the same period in 2023. The local market continues to grow significantly, while export sales continue to be affected by the situation in Libya.
In the local market, cumulative sales growth for the first nine months was 10%, while export sales fell by 50% due to the ongoing problems with the Libya-Tunisia border blockade and the opening of letters of credit in Libya.
In addition, the value of production at September 30, 2024 was 15% lower than at September 30, 2023.
Following the decline recorded since the beginning of the year, raw material prices are showing some stability, which is helping to maintain the gross margin at an acceptable level.
In the first nine months of 2024, the company invested 7.7 million dinars, mainly in production equipment (5.1 million dinars).
At September 30, 2024, the company had a net debt of 39 million dinars, compared to 26.5 million dinars at December 31, 2023 and 31.7 million dinars at September 30, 2023.
