Willy Merterns on Debmarine 38% dip in revenue
March 19, 2025
[PODCAST]
Debmarine Namibia reported a 38% decline in revenue to N$8.5 billion for 2024, driven by falling diamond prices and reduced production.
The company produced 2.234 million carats of rough diamonds, a 4% decrease from the 2.327 million carats mined in 2023, reflecting market-driven adjustments.
Mertens highlighted a 91% drop in free cash flow, attributing it to global demand challenges, including a 3.5% decline in natural diamond jewellery sales. Despite a 13% reduction in total assets, Debmarine maintained a robust N$13 billion asset base, with equity at N$4 billion.
Announced by the chief executive Willy Mertens on Tuesday, he joined us on air to unpack this
