Tunisian Tire Industry Company (STIP) Confirms Continuation of Activities
The Tunisian Tire Industry Company (STIP) confirmed the continuation of its activities following its extraordinary general assembly held on October 14, 2025. According to the statement published by the CMF, shareholders unanimously adopted the resolution related to the continuity of activity after reading the board of directors' report. A second resolution was also approved, granting the legal representative the power to complete the necessary legal formalities to implement these decisions.
A Decision Made in a Context of Persistent Financial Difficulties
This decision comes in a particularly delicate context for the company. The consolidated financial statements of the group, as of December 31, 2024, reveal a significant deterioration in the financial situation. The consolidated net result was indeed established at a deficit of approximately 10 million dinars, compared to a loss of approximately 1.6 million dinars in 2023, representing a deterioration of 8.4 million dinars.
The total consolidated balance sheet decreased from approximately 228 million dinars in 2023 to 205 million in 2024, while the equity was divided by nearly three, going from 15.1 to 5.2 million dinars. On the operational level, the group recorded a slight increase in its turnover excluding VAT, reaching approximately 143 million dinars compared to 138.5 million in 2023. This increase resulted from an increase in sales on the local market (+9.7 million dinars), partially offset by a decrease in exports (-5.2 million dinars).
However, this improvement in revenue was not enough to compensate for the collapse of the operating result, which went from 9.4 million dinars in 2023 to only 173,000 dinars in 2024. At the same time, net financial charges continued to increase, reaching 12.8 million dinars compared to 11 million the previous year.
Significant Industrial and Social Disruptions
The year 2024 was also marked by a temporary interruption of production. The general management had decided, on April 16, 2024, to suspend the activity of its two factories for two months due to a particularly high level of finished product stocks, estimated at 50 million dinars. Production resumed progressively between late April and late May, while commercial activities were maintained.
In 2025, the company was again faced with social disruptions, with a union strike observed from March 13 to April 2, affecting production, sales, and the clearance of imports. The financial impact of this movement has not yet been quantified.
In this difficult context, the decision of the Extraordinary General Assembly to confirm the continuation of activities illustrates the shareholders' willingness to keep the company afloat and gradually restore its financial stability. This orientation also testifies to the strategic importance of STIP, the only Tunisian tire manufacturing company, in the national industrial fabric.
