CELLCOM has published its business indicators for the fourth quarter of last year, during which it recorded a significant growth of 30% compared to the same period in 2022, reaching 17.5 million dinars.
This increase was driven by GSM sales, which rose by around 30% compared to the last quarter of 2022, to 16.2 million dinars. However, for the full year 2023, GSM revenues declined by 7% to 48.2 million dinars.
This reflects a decline in GSM business on the international market and especially on the domestic market, mainly due to the new 29% tariffs and the shortage of electronic components observed in early 2023.
Recharge revenues stabilize at 1.2 million dinars in Q4 2023. For the full year 2023, recharge sales increased by 4% to 4.8 million dinars.
For the full year, the company’s overall performance improved in terms of margin (+11% compared to 2022), coupled with an 11% reduction in operating expenses and a 57% reduction in financial expenses.
In 2023, the company managed to increase its market share with Ooredoo for the Infinix range and to improve its sales with the Orange operator, in addition to developing its distribution network, which enabled it to reduce the gap between 2022 and 2023 to -5%.
In the fourth quarter of 2023, the gross margin was 1.8 million dinars compared to 1.35 million dinars in the same period of 2022, up 33%, while the gross margin rate was 11.5% compared to 11.2%.
