The business indicators of Sotetel, a subsidiary of state-owned telephone operator TT, for the second quarter of 2023 show operating income up by 16.9% (TND 15.650 million), turnover up by 13.7% (TND 14.776 million) and export turnover of TND 520 thousand.
However, operating expenses increased by 24.2%, with purchases up 40%, wages up 2.1% and opex up 6.9%.
All this explains the significant decrease of 33% compared to the previous quarter. Opex is the accounting equivalent of EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation).
EBITDA stands for Earnings Before Interest, Taxes, Depreciation and Amortisation.
Clearly, TT’s subsidiary is still not doing any better. In 2022, it made a profit of just TND 1.2 million, after a deficit of TND 254,799 in 2021, itself after a profit of TND 3.882 million in 2020 and a loss of TND 3.119 million in 2019, which followed a profit of TND 4 million in 2018!
