Somocer's First Quarter Marked by Significant Decline in Sales and Production

The first quarter of 2024 has been tumultuous for Somocer, with a 33.92% decline in global sales compared to the same period last year.

Local Market Sales Plummet

On the local market, sales plummeted by 42.23%, dropping from 23,201 Mtnd to 13,402 Mtnd as of March 31, 2024.

Exports: A Bright Spot

However, exports were a bright spot, with a notable increase of 81.59%. Sales reached 3,031 Mtnd, up from 1,669 Mtnd in the first quarter of 2023.

Production Takes a Hit

Somocer's production was also severely impacted, with a sharp decline of 56.79%. Production fell from 28,142 Mtnd to 12,160 Mtnd by the end of the first quarter of 2024.

Investments Follow Suit

Investments followed a similar downward trend, decreasing by 49.07% compared to the previous year, settling at 0.427 Mtnd.

Banking Commitments on the Rise

Banking commitments, on the other hand, increased by 15.34%, reaching 76,042 million dinars as of March 31, 2024, up from 65,928 Mtnd during the same period in 2023. Long- and medium-term debts now represent 31.67% of total commitments as of March 31, 2024.