Carthage Cement's Second Quarter 2024 Revenue Reaches 100,959 MTND, Up 6% Year-Over-Year
Carthage Cement's revenue for the second quarter of 2024 stood at 100,959 MTND, a 6% increase compared to the same period in 2023. The cement manufacturer remains one of the sector's leading exporters, with foreign sales reaching 9,843 MTND. The local cement market saw a 12% growth, reaching 83,987 MTND.
The aggregates and Ready Mix segments reported revenues of 4,998 MTND (-8% year-over-year) and 2,131 MTND (-34% compared to the second quarter of 2023), respectively.
Over the first six months of the year, revenue increased by 2%, reaching 212,963 MTND. Carthage Cement exported 21,774 MTND during this period. The local market performed well, with cement sales growing by 10% to 174,982 MTND and aggregates increasing by 3% to 11,614 MTND. Ready Mix, however, saw a 36% decline, reaching 4,591 MTND.
The company invested 12,542 MTND by the end of June 2023. Debt continues to decrease, totaling 340,593 MTND, which should improve its market yield to 3.55% since the beginning of the year.
Carthage Cement is expected to post strong profits in the first half of the year, absorbing a new portion of its previous losses. Investors should appreciate these performances and consolidate their positions in a stock that has the potential to generate significant returns in the medium term.