Industries Chimiques du Fluor (ICF) Reports Q2 2024 Results
Revenue Down 6.7% YoY Due to Decrease in Aluminum Fluoride Prices
The Industries Chimiques du Fluor (ICF) has reported a revenue of 32,165 MTND for the second quarter of 2024, representing a 6.7% decrease compared to the same period in 2023. The management attributed this decline to the drop in the average selling price of aluminum fluoride over the past few months, which is linked to the demand on the international market.
Half-Year Results: Sales Down 10.7% YoY
For the first half of the year, sales totaled 71,935 MTND, down 10.7% compared to 80,589 MTND in the first half of 2023. The scheduled preventive maintenance of technical installations during the semester, which resulted in a 4.3% decrease in production, also contributed to this decline.
Investments and Future Outlook
Investments made since the beginning of the year amount to 0.289 MTND. However, the company has committed to an ambitious investment program focused on four main axes: modernizing production tools, solar energy, water savings, and environmental projects. As a result, this item is expected to consume more resources in the coming quarters.
Financial Position and Dividend Distribution
ICF reports liquidities and equivalent liquidities of 37,662 MTND. At the same time, management credits totaled 67,807 MTND at the end of the first half. Since the beginning of the year, the stock has remained relatively stable, with a slight decline of 1.96%. The company has already distributed a dividend of 2,500 TND per share for 2023.
Analysts' View
There is currently no catalyst for aluminum fluoride prices to rise rapidly on international markets. This stock may be of interest to those seeking medium-term capital appreciation. However, in the short term, the planned investments may consume liquidity and profits in a gloomy global context.