Carthage Cement sees reduced COVID-19 impact on 3Q results

Tunisia-based Carthage Cement reported a less severe impact of the COVID-19 pandemic on its turnover in the third quarter of 2020. The company’s turnover fell by six per cent to TND172m (US$63m) from TND183m in the 3Q19. In the 2Q20 turnover had fallen by 16 per cent due to the pandemic.

Turnover in the domestic market increased six per cent YoY to TND151m when compared with the 3Q19 turnover of TND143m.

Exports declined to TND1.193m when compared with TND1.225m in the 3Q19. However, deliveries of cement to Italy are expected to resume their planned pace from October 2020.

Clinker output was up 12 per cent YoY to 733,000t.

The company’s indebtedness fell by 19 per cent YoY to TND438,783m by the end of September, following the completion of the capital increase and implementation of the debt repayment plan agreed with banks and lenders.