SFBT Overcomes Economic and Operational Challenges to Achieve Remarkable Results in 2023
In 2023, the SFBT (Tunisian Beverage Manufacturing Company) demonstrated its ability to overcome economic and operational challenges to achieve remarkable results. Despite a context marked by inflation, sugar and food-grade CO₂ shortages, the group recorded a 9.6% increase in its net result, reaching a record of 281.7 million Tunisian dinars (Mtnd).
As revealed by the annual report of Tunisie Valeurs published in December 2024, although total revenues grew timidly by 3% to reach 1.4 billion dinars, performances varied across segments. Carbonated beverages marked a notable increase (+7.9% to 484.3 Mtnd), contrasting with declines in the milk (-11.2%), juice (-5.1%), and wine (-35.9%) segments, partly due to structural and climate-related challenges.
The group successfully optimized its costs in the face of rising raw material prices, stabilizing its EBITDA margin at 30.6%. The late restart of the ETAP CO₂ well in September 2023 helped resolve part of the production disruptions.
SFBT continues to distinguish itself with exemplary financial management. Despite significant investments of 404.2 Mtnd between 2019 and 2023, the financial structure remains healthy, with a gearing of -21.6%. Financial income (+38% to 30.7 Mtnd) contributed to supporting the group's overall profitability.
Under the direction of its new management, SFBT is exploring promising growth relays. Projects under study include the self-production of food-grade CO₂, the development of strategic crops such as barley, and investments in renewable energy. With a quasi-monopolistic position and diversified products, the group is oriented towards sustainable and profitable growth, reinforced by the normalization of the HORECA sector and the return of tourists.
In 2024, SFBT continues to pursue its objective of creating value for its shareholders, thanks to an improving operating activity and dynamic treasury management.
