Industrial Equipment and Electrical Materials Company Update
The Industrial Equipment and Electrical Materials Company (SIAME) has informed its shareholders and the public that, pursuant to a court order from the Tunis Court of First Instance dated January 28, 2026, the college of judicial mandatories has been recomposed, with a reduction in their number from three to two members. The control of the company's management acts is now ensured by judicial mandatories Mondher Hamdi and Bilel Errahmouni.
Business Operations Unaffected
The company's operations, both within and outside Tunisia, will not be affected by this change. The role of the judicial mandatories is to ensure the continuity of SIAME's activities and the preservation of its assets, as well as to facilitate the normal pursuit of its material commitments.
Financial Performance
In 2025, the company recorded an increase in its turnover of 8.3% to 46,577 million Tunisian dinars (Mtnd), coming from both the local market (+9.6% to 29,706 Mtnd) and exports (+6.1% to 16,870 Mtnd). It invested 2,805 Mtnd and continued its normal relationships with banks, with a debt of 20,687 Mtnd.
First-Half Results
The first half of the year was marked by a net profit of 1,720 Mtnd, and the auditors did not identify "any facts that suggest that the interim financial statements do not faithfully present, in all material respects, the company's financial position as of June 30, 2025, as well as its financial performance and cash flows for the period ended on that date." Shareholders should not be concerned, pending a highly anticipated General Assembly.
Key Takeaways
- Recomposition of the college of judicial mandatories
- Business operations unaffected
- Increase in turnover and investments
- Normal relationships with banks
- Positive first-half results
- Upcoming General Assembly
