Carthage Cement Maintains Revenue at 112 Mtnd in Q1 2024
Carthage Cement has maintained its revenue at 112 Mtnd in the first quarter of 2024, equivalent to the same period in 2023.
Production and Sales
The cement manufacturer announced a 16% increase in clinker production compared to the previous year. On the local market, the company achieved a revenue of 90,995 Mtnd, with an additional 11,931 Mtnd from exports, totaling 103 Mtnd for the cement activity.
Market Share Growth
Notably, the company has recorded a growth in its market share, increasing from 24% in Q1 2023 to 28% for the same period in 2024.
Aggregates Activity
The aggregates activity saw a 14% increase in revenue, reaching 6,616 Mtnd compared to 5,808 Mtnd the previous year.
Concrete Activity
However, the concrete activity suffered a 38% decline due to lower demand during Ramadan.
Investments
The company's investments as of March 31, 2024, reached 7,414 Mtnd.
Debt Reduction
Finally, the company's global debt has been reduced by 17% compared to March 31, 2023, and by 7% compared to December 31, 2023, standing at 322 Mtnd.
