Unimed Reports Strong First Quarter with 13.3% Increase in Profits
Unimed has announced a successful first semester of 2024, with profits reaching 7,562 million Tunisian dinars (Mtnd), a 13.3% increase compared to the same period last year. The company's turnover stood at 66,211 Mtnd, an 8.0% improvement over the same period in 2023.
Domestic Market Drives Growth
The domestic market generated 44,203 Mtnd, a significant 34.4% increase compared to the same period last year, driven by official and hospital sales. On the other hand, exports declined by 22.4% to 22,008 Mtnd.
Cost Control and Operational Efficiency
Unimed has successfully controlled its purchases of consumables (-3.4%, at 27,560 Mtnd) and other operating expenses (+2.6%, at 5,848 Mtnd), resulting in a 12.5% increase in operating income to 13,177 Mtnd. Net financial expenses totaled 3,170 Mtnd, reflecting an increase in debt. The company's loans amounted to 26,300 Mtnd, with a new loan of 8,200 Mtnd contracted with Amen Bank at a rate of TMM + 1.5%. Bank overdrafts stood at 5,020 Mtnd.
Stock Performance and Outlook
Since the beginning of the year, Unimed's stock has underperformed by -5.21%, which is still valid given the company's global context. The current situation is one of resilience. Investors looking to hold the stock should be aware that they may need to be patient for its potential to be realized.
