Tunisian Tire Industry Company (STIP) to Hold Ordinary General Meeting
The Tunisian Tire Industry Company (STIP) has convened its shareholders to an Ordinary General Meeting (AGO) to be held on October 14, 2025. The meeting will discuss the company's financial statements for the 2024 fiscal year. Although the annual accounts have not been published yet, they are expected to be released starting today.
Key Resolutions and Financial Performance
The AGO resolutions indicate that the 2024 fiscal year ended with a loss of -7.933 million Tunisian dinars (Mtnd), compared to a profit of 0.613 Mtnd the previous year. The first half of the year already showed a loss of 0.443 Mtnd, proving that the second half of 2024 was challenging. The negative result will be allocated between deferred results (-5.110 Mtnd) and deferred depreciation (-2.823 Mtnd).
Extraordinary General Meeting and Continuity of Operations
An Extraordinary General Meeting, to be held on the same day, will discuss the continuity of the company's operations. The 2025 figures, based on quarterly activity indicators, show that sales remained stable at 60.049 Mtnd. It would be difficult to expect a radical change in the company's financial situation. Instead, the company needs to focus on exports, as the local market is highly competitive, with tires coming from parallel circuits. In our opinion, only a firm control of the market will allow the company to balance its accounts. Otherwise, an injection of equity will be necessary.
Investments and Cost Reduction
Meanwhile, investments are necessary, particularly in controlling production costs. A trigeneration system has been implemented, allowing for a reduction in the energy bill. The company's stock price remains on an annual performance of 23.6%, but with a low volume of transactions (0.173 Mtnd).
