• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Sunday, June 15, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies

Debmarine Namibia’s revenue drops 38% to N$8.5 billion

by editor
March 17, 2025
in Companies
7
A A
495
SHARES
8.2k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Debmarine Namibia has reported a 38% decline in revenue to N$8.5 billion for 2024, attributing the drop to reduced diamond prices and lower production levels.

You might also like

Farmer unions oppose reappointment of former Meatco CEO

Namibia advances on FATF action plan, faces EU high-risk listing

Govt spends over N$100 million in livestock subsidies

The country produced 2.234 million carats of rough diamonds, marking a 4% decrease from the 2.327 million carats mined in 2023.

Debmarine Namibia Chief Executive Officer Willy Mertens acknowledged the subdued financial performance over the past two years but assured stakeholders of the company’s financial resilience.

“Earnings before interest, tax, depreciation, and amortisation (EBITDA) reduced by 86% to just under a billion Namibia Dollars, in fact at N$951 million. Let’s look at the movement in EBITDA from N$6.76 billion in 2022, price or market taking out N$2.3 billion in 2023 and another N$4.8 billion in 2024—that is a massive N$7.1 billion over the past two years,” Mertens said.

He attributed the decline to lower diamond prices and production adjustments made in response to market conditions, leading to a 91% drop in free cash flow. Despite a 13% reduction in total assets, Debmarine Namibia maintains a strong asset base valued at N$13 billion, with equity standing at approximately N$4 billion.

To enhance efficiency and recovery rates, the company has invested in two new crawlers for the Benguela Gem vessel. The upgrades are expected to improve recovery speeds by 20% and enable access to different geological deposits.

The downturn comes amid a 3.5% decline in global demand for natural diamond jewelry in 2024, exacerbated by increasing polished stock levels in the midstream sector. Polished stock levels surged to US$2 billion in July 2024 before reducing to US$1.2 billion due to a constrained supply of rough diamonds.

Executive Director of Mines and Energy, Penda Ithindi, highlighted the potential impact of G7 sanctions on Russia and Iran, particularly regarding revenue flows and the technological infrastructure required for verification processes.

“In light of these challenges, it is crucial to take proactive and strategic measures to stabilize the diamond industry. This response must go beyond cost-cutting and should focus on securing the industry’s future and protecting the livelihoods that depend on it,” Ithindi stated.

He acknowledged the difficult decisions being made amid the industry downturn, including potential job losses. However, he emphasized the need for a human-centered approach in all strategies aimed at mitigating the impact.

“The government remains committed to supporting the industry through collaborative measures to navigate the downturn. The conversation has started, and we will continue working closely with stakeholders, including mining companies, employees, and impacted communities, to develop sustainable solutions,” he added.

author avatar
editor
See Full Bio
Tags: Debmarine NamibiadiamonddimaondsrevenueWilly Mertens
Share198Tweet124Share35
Previous Post

Paratus Namibia invests N$125.2 million in infrastructure expansion

Next Post

O&L eyes international markets for new Model supermarkets, rules out wholesale for now

Recommended For You

Farmer unions oppose reappointment of former Meatco CEO

by reporter
June 13, 2025
0
Farmer unions oppose reappointment of former Meatco CEO

Three national farmer unions have formally opposed the reappointment of former Meat Corporation of Namibia (Meatco) Chief Executive Officer Mwilima Mushokabanji, warning that the move could destabilise the...

Read moreDetails

Namibia advances on FATF action plan, faces EU high-risk listing

by reporter
June 13, 2025
0
Namibia advances on FATF action plan, faces EU high-risk listing

Namibia has addressed eight of the 13 strategic deficiencies identified by the Financial Action Task Force (FATF) since being grey-listed in February 2024. Director of the Financial Intelligence...

Read moreDetails

Govt spends over N$100 million in livestock subsidies

by reporter
June 13, 2025
0
Govt spends over N$100 million in livestock subsidies

The government has disbursed N$101,017,803 to 23,203 farmers under the Livestock Marketing Incentive Programme, according to figures released by the Office of the Prime Minister. Prime Minister Elijah...

Read moreDetails

Namibia records N$1.4 billion in fish exports in April

by reporter
June 12, 2025
0
Namibia records N$1.4 billion in fish exports in April

Namibia exported fish worth N$1.4 billion in April 2025, making it the country’s third-largest export product for the month and a key driver of a N$548 million food...

Read moreDetails

Inflation slows to 3.5% in May as food and alcohol keep upward pressure

by reporter
June 12, 2025
0
Inflation slows to 3.5% in May as food and alcohol keep upward pressure

Namibia’s annual inflation rate stood at 3.5% in May 2025, largely driven by rising prices for food, non-alcoholic beverages, and alcohol, the Namibia Statistics Agency (NSA) said on...

Read moreDetails
Next Post
O&L eyes international markets for new Model supermarkets, rules out wholesale for now

O&L eyes international markets for new Model supermarkets, rules out wholesale for now

Related News

Namibia oil refinery prospects hinge on quality, quantity of discovery: Alweendo

Namibia oil refinery prospects hinge on quality, quantity of discovery: Alweendo

February 8, 2022
Nammilk Fresh Milk withdrawn after failing quality checks

Nammilk Fresh Milk withdrawn after failing quality checks

April 19, 2022
Namibia’s trade deficit widens despite N$15.9bn trade growth

Namibia’s trade deficit widens despite N$15.9bn trade growth

July 5, 2022

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.