Les Ciments de Bizerte (SCB) Releases Interim Financial Statements for the First Half of 2025
The Les Ciments de Bizerte (SCB) company has published its interim financial statements as of June 30, 2025. For the first half of 2025, SCB reports a net loss of 26.7 million dinars, compared to 26.8 million dinars for the same period in 2024. The company's revenue decreased to 18.6 million dinars, down from 19.6 million dinars a year earlier.
Key Financial Highlights
- The gross margin, already negative in 2024, further deteriorated to -2.6 million dinars, compared to -1.8 million dinars the previous year. This decline is directly related to the halt in clinker production due to supply disruptions of petroleum coke caused by a lack of financing.
- To mitigate this situation, the company had to import 58,536 tons of clinker, a volume insufficient to meet demand and maintain competitiveness.
- The cost of this underactivity is substantial: 11.3 million dinars were attributed to production costs for the period.
Balance Sheet and Debt
As of June 30, 2025, SCB's total assets stood at 379.7 million dinars, down from 400 million dinars a year earlier. Tangible assets represent the majority of non-current assets (334.1 million dinars). On the liability side, debt increased to 263.2 million dinars, up from 238.6 million dinars in June 2024, driven by supplier debt (70.5 million dinars) and bank loans (85.3 million dinars).
Equity and Retained Earnings
The successive losses continue to erode the company's equity, which decreased from 161.4 million dinars in June 2024 to 116.5 million dinars a year later. The retained earnings account now shows a negative balance of -230.2 million dinars.
Mixed Signals
Despite this concerning picture, some indicators provide a more positive note:
- Decrease in financial expenses: They decreased from 5.9 million dinars to 5.1 million dinars.
- Sharp increase in quay revenues: They reached 2 million dinars, up from 702,000 dinars in 2024.
- Increased tax provision: The company had to establish an additional provision of 4.4 million dinars due to delays in its tax obligations.
