Siame's Revenue Reaches 11,868 MTND in Q2 2025, Up 6.7% Year-Over-Year
Siame, the Société industrielle d'appareillage et de matériels électriques, has reported a revenue of 11,868 MTND (Tunisian dinars) for the second quarter of 2025, representing a 6.7% increase compared to the same period in 2024.
Local Market Drives Growth
The local market generated 7,419 MTND, up from 5,254 MTND last year. Exports totaled 4,449 MTND. For the first half of 2025, the company's revenue reached 22,643 MTND, a 2.2% year-over-year increase.
Strong Sales to Tunisian Electricity and Gas Company
Sales to the Tunisian Electricity and Gas Company (STEG) were a significant contributor to Siame's revenue, with a remarkable 77.8% increase to 2,879 MTND compared to the first half of 2024. However, sales to private operators in the local market declined due to a challenging economic context, particularly in the real estate sector.
Export Performance Impacted by Delayed Deliveries to Iraq
The decline in exports was mainly due to delayed deliveries to Iraq. However, shipments to Iraq are already scheduled for August and September 2025, and the company expects to catch up by the end of the year. As a result, the annual export sales target for 2025 remains valid and may even be exceeded, according to management.
Investments and Debt Reduction
Investments totaled 0.958 MTND. The company's debt was significantly reduced from 25,644 MTND in December 2024 to 21,306 MTND.
Stock Performance
Despite the company's strong financial performance, its stock remains underperforming, down 26.3% due to governance issues that have been partially resolved with the appointment of judicial trustees. Investors have welcomed the company's results, and the stock is already among the top gainers this morning.
