At September 30, 2023, SOTUVER had sales of 120 million dinars, compared with 116.5 million dinars at 30 September 2022, an increase of 3%.
This increase was mainly driven by sales to foreign markets (+13%), which more than offset the 11% decline in local sales, that was largely due to production planning.
On the export front, despite a difficult and uncertain economic climate, SOTUVER managed to increase its exports thanks to market diversification and the development of new products, reinforcing its status as a predominantly exporting company with 65% of total export sales.
Total debt at September 30, 2023 amounted to 100.8 million dinars, an increase of approximately 25 million dinars compared to the end of September 2022.
Compared to December 31, 2022, total debt increased by 14.5 million dinars or 17%, mainly due to the financing of investments related to the renovation of production facilities and the expansion of WCR.
Investments and cash went up 41% to 64.4 million dinars at the end of the third quarter of 2023, compared to 45.7 million dinars at September 30, 2022, but are still 5% below the total at the end of 2022.
As a result, net debt increased from 18.5 million dinars at December 31, 2022 to 36.3 million dinars at September 30, 2023, up 96%.
In addition, capital expenditure as at September 30, 2023 amounted to TND 9.1 million, mainly related to the acquisition of new equipment and renovation of production facilities.
Source: African Manager