Bizerte Cement Company Sees Significant Revenue Drop in Q2 2024
During the second quarter of 2024, the local revenue of Bizerte Cement Company plummeted by 67.23% compared to the same period in 2023, dropping from 24,494 to 8,025 MTND.
This decline is primarily attributed to the suspension of clinker production during this period, caused by the lack of petroleum coke, the only possible fuel for the kiln's operation. This shortage was a result of the company's financial difficulties, which prevented it from importing the necessary material.
The total revenue also experienced a similar decline, due to the complete absence of exports.
Following these financial difficulties, the company was unable to meet its commitments to its suppliers. However, it attempted to reduce its bank debts by paying 15,338 MTND of its medium-term credits, which decreased compared to the same period in 2023, from 136,096 to 120,757 MTND.
Furthermore, management credits also decreased from 33,268 MTND in 2023 to 27,110 in 2024, for the pre-financing of stocks. These credits will be honored at their maturity, although it remains possible to renew them for an additional period.
