Sotuver Announces 42% Decrease in Quarterly Revenue Amid Investment Phase
In the midst of an investment phase, Sotuver has announced a 42% decrease in its quarterly revenue, reaching 21,783 MTND. The renovation of a furnace representing 50% of its production capacity has led to this trend, which the company cannot escape. However, the works will be completed on schedule, allowing the company to quickly regain its usual activity rhythm.
This investment will contribute to optimizing energy consumption and reducing carbon emissions, a key element for penetrating new markets. The shutdown also provided an opportunity to modernize part of the production tools, including machines related to the control process, which will help penetrate new markets and niches.
Since the beginning of the year, revenue has decreased by 40%, reaching 71,910 MTND, with 23,655 MTND generated on the local market and 48,255 MTND from exports. Including sales from the SGI subsidiary, Sotuver's consolidated revenue over nine months has only decreased by 11% compared to the same period in 2023, reaching 164,456 MTND.
The company's debt has significantly increased, totaling 163,541 MTND, due to the investments undertaken, worth 75,410 MTND, including 21,962 MTND for the furnace renovation and 23,734 MTND for the modernization of production tools. Investors are closely following the progress of the works, and the stock remains on a positive performance of 6.25% since the beginning of the year. There is confidence in Sotuver's ability to open up new perspectives and regain its previous performance levels by 2025.
