Ciments de Bizerte posts 53% turnover drop in 1Q24 due to lack of petcoke

Tunisia-based Les Ciments de Bizerte saw a 52.6 per cent drop in turnover to TND12.262m (US$3.9m) in the first quarter of 2024 from TND25.858m. The drop in turnover was due to the halt in clinker production during the quarter.

The company suspended clinker production in the 1Q24 due to a lack of petcoke following financial challenges that prevented the company from importing the kiln's sole fuel. In the period leading up to 31 March, 50,588t of cement was produced, down 53.7 per cent YoY. Lime production was down 40.8 per cent YoY.

However, Les Ciments de Bizerte has continued to pay its suppliers and TND3.656m of medium-term credits, which fell to TND123.806m on 31 March 2024.

Going forward, the company expects to resume clinker and cement production to meet demand and improve its share in the domestic market. It aims to control production and distribution costs.