Carthage Cement Quarterly Results
Carthage Cement has achieved a quarterly turnover of 97,083 MTND, representing a slight increase of 0.3% compared to the same period last year. This improvement is attributed to export activity, which has more than doubled, totaling sales of 20,347 MTND. This has been able to offset the decline in the local market (-12% to 68,827 MTND), aggregates (-30% to 4,310 MTND), and ready-mix concrete (-4% to 3,596 MTND).
Annual Performance
Over the entire year, sales have decreased by 9% to 383,463 MTND. The local market has seen a decline of 20% to 275,608 MTND, reflecting the sluggish demand.
Investments and Debt
The cement company has used an investment envelope of 45,620 MTND for its investments. Debt continues to decrease, totaling 281,775 MTND as of December 2025. The company even has bank deposits of 41,883 MTND, demonstrating its good solvency.
Market Reaction
The market reaction shows that investors were expecting these figures. The stock is rather balanced. Investors are aware that in the absence of a real recovery in the construction sector, which continues to suffer, and a sufficient number of large national infrastructure projects, it is difficult for the local cement market to restart quickly. The driver of the stock price is rather the decrease in debt and the dynamics of exports, which are on the right track. Clearly, the profit should decrease for 2025 compared to 2024, but this would not be a surprise. It is largely integrated into the course, with an underperformance of 14.16% in 2025.
