Sotemail's Revenue Plummets 32.9% in Q1 2024

Sotemail's revenue has taken a significant hit, decreasing by 32.9% in the first quarter of 2024 compared to the same period in 2023, dropping from 17,701 million dinars to 11,876 million dinars.

This decline is a reflection of the challenges faced by the company, particularly in the export market, where the decline was more pronounced, with a staggering 71.2% drop. The export revenue reached only 729,337 TND, down from 2,535,375 TND in the previous year.

The local market was also affected, albeit to a lesser extent. Sales in the local market reached 11,146 Mtnd, a decrease of 26.5%.

In addition, production also experienced a decline of 44.7% compared to the previous year, standing at 9,083 Mtnd.

Similarly, investments in tangible and intangible assets decreased by more than half over the past year, dropping from 671,323 TND to 309,872 TND between March 31, 2023, and March 31, 2024.

However, the only indicator that showed improvement at Sotemail during this first quarter was its debt. Indeed, as of March 31, 2024, the bank commitment reached 44,643 Mtnd, a 25.2% increase from 35,662 Mtnd recorded on March 31, 2023.