Sotuver's Q1 2024 Financial Results: Revenue Down 26%

During the first quarter of 2024, Sotuver reported a revenue of 27,220 million dinars, marking a 26% decrease compared to the same period in 2023. This is according to the company's financial results published on the Bvmt website.

Local Market Sales Down 37%

On the local market, sales experienced a more significant decline of 37%, amounting to 10,495 million dinars. However, internationally, Sotuver maintained its momentum, with 61% of its sales coming from exports, solidifying its status as a predominantly export-oriented company, despite a 17% regression.

Production Value Down 18%

As of March 31, 2024, the production value stood at 30,112 million dinars, also down 18% compared to the previous year.

Global Debt Up 7%

The global debt increased by 7%, reaching 113,035 million dinars. This rise is attributed to the need for working capital and financing investments, amounting to 5,416 million dinars, for the renovation of production tools.

Net Debt Rises to 42,678 Million Dinars

Despite these investments, placements and liquidity slightly improved by 1%. However, net debt climbed to 42,678 million dinars, compared to 13,530 million dinars in the first quarter of 2023.