Carthage Cement's Revenue Drops 11% in Q4 2024
Carthage Cement's revenue for the last quarter of 2024 stood at 96,788 Mtnd, an 11% year-over-year decline. The cement company exported cement worth a total of 8,325 Mtnd, also down 20% compared to the same period in 2023. The local cement market saw a 12% decline to 78,530 Mtnd.
However, the company's aggregates and Ready Mix segments performed relatively well, with revenues of 6,184 Mtnd (+3% year-over-year) and 3,748 Mtnd (+42% compared to Q4 2023), respectively.
For the full year, revenue reached 421,573 Mtnd, down 2% compared to 2023. Carthage Cement's exports totaled 40,373 Mtnd. The deliberate slowdown in foreign sales is attributed to unattractive market conditions. The local market showed resilience, with 2% growth in cement sales to 346,553 Mtnd and 6% growth in aggregates to 23,827 Mtnd. Ready Mix sales, however, declined 15% to 10,818 Mtnd.
The company invested 21,913 Mtnd and continued to reduce its debt, which now stands at 321,627 Mtnd. Carthage Cement also has 40,067 Mtnd in bank deposits, reflecting a significant improvement in its treasury.
The market has generally welcomed the figures, and the company's stock opened higher this morning. The results are considered good, and the downward trend in debt confirms that the cement company is rapidly recovering. In our opinion, the sale of the company is no longer on the agenda, and those holding the stock should understand that it is a good investment for the medium and long term.
