SODINO SICAR Closes 2024 with a Net Result of 0.154 MTND
The Northwest Development and Investment Company (SODINO SICAR) closed the 2024 fiscal year with a net result of 0.154 MTND, showing a slight increase compared to the 0.146 MTND recorded in 2023. Despite this improvement, the company still faces a significant deficit, with cumulative losses amounting to 19.504 MTND as of December 31, 2024.
Key Financial Highlights
- The regional investment vehicle generated operating income of 1.400 MTND, including 1.280 MTND from financial investments.
- Personnel expenses were the main expenditure, reaching 1.439 MTND.
- The company made provisions reversals totaling 0.656 MTND, concerning nine participations, including:
- TREFINORD: 0.150 MTND
- SINCAR: 0.148 MTND
- HN OUEST: 0.100 MTND
- A capital gain of 0.011 MTND was recorded following the sale of 11,000 shares in the SOCABIS project.
Portfolio and Provisions
- SODINO SICAR's participations amount to 21.027 MTND in net value and 32.460 MTND in gross value, with provisions constituted at 11.432 MTND.
Consolidated Results
- The consolidated net result is negative at -0.154 MTND, although the overall result remains positive at 0.136 MTND.
Upcoming General Assembly
The Ordinary General Assembly will take place tomorrow, Wednesday, September 24, 2025. On this occasion, the mandates of representatives from TSB, BH Bank, and FINACORP will be renewed for a period of three years.
Conclusion
Given its importance at the regional level, we believe that SODINO SICAR deserves greater attention from the authorities, including the injection of own funds. The company has significant potential to contribute to the structuring and consolidation of value chains, particularly in the agricultural and agri-food sectors.
