AeTECH has published its accounts for the year ended December 31, 2022, which will be submitted for approval at the Annual General Meeting on July 12, 2023.
After a setback in 2021, the software supplier and installer returned to profit last year. The company posted a net profit of 3.1 million dinars, compared to a loss of 380 thousand dinars in 2021.
This performance was achieved despite a decline in revenues and an operating loss. Other ordinary gains” showed a balance of 3.8 million dinars from gains on non-recurring items (sale of assets).
At the end of December, the company’s total revenues amounted to 5.1 million dinars, compared to 7.9 million a year earlier, a decrease of approximately 35%. This sharp decline was due to a significant 47% drop in distribution revenues.
Operating expenses fell from 7.8 million dinars in December 2001 to 5.3 million dinars last December, a decrease of 32%.
As a result, the operating result is in the red at -182 thousand dinars, compared to a surplus of 127 thousand dinars in 2021.
