SOMOCER recorded a 12% increase in global sales to 24.9 million dinars in the first quarter of 2023 compared to the same period of 2022.
Sales in the local market picked up 18.2% to 23.2 million dinars, mainly due to strong growth in sales of new products and the beginnings of a recovery in the hotel sector.
On the other hand, export sales fell by 35.2% due to the production schedule, but SOMOCER expects to make up for this drop during the rest of the year. Foreign sales remain important for the company.
Production in the first quarter rose by 11% compared with the same quarter of the previous year to 28.1 million dinars.
Investments for the period were around 839 thousand dinars compared to 574 thousand dinars in the first quarter of 2022, posting an increase of 46.2%.
As for bank commitments (balance sheet commitments) as of March 31, 2023, they recorded a decrease of 15.3% to 65.9 million dinars, compared to a total of 77.8 million dinars in the same period of 2022.
Long- and medium-term debt represents 47.4% of total balance sheet commitments as of March 31, 2023.