Alkimia Faces Challenges in Q1 2024, But Remains Confident in Future Prospects
Alkimia, a company specialized in the production of phosphate-based fertilizers, has reported a decline in production and revenue in the first quarter of 2024. This decrease can be attributed to a combination of unfavorable factors, including a decline in demand for STPP on the international market, the loss of clients following the shutdown of production units by the GCT, and the overpricing of raw materials by the latter.
Despite these challenges, Alkimia remains confident in its future prospects and is taking concrete actions to turn things around. The company has finalized a capital increase of 20 million dinars and launched an ambitious restructuring plan.
This plan involves the conversion of the U-1500 unit to produce 160,000 tons of NPK, a highly sought-after fertilizer on the market. Production of powdered NPK is expected to begin in the first quarter of 2025, while granular NPK production is slated to start in the third quarter of 2025.
Alkimia is targeting an annual production of 320,000 tons of NPK fertilizers by 2026, which will enable it to meet the growing demand on both the national and international markets. The company is confident in its ability to regain its competitiveness and return to growth in the years to come.