The 2024 fiscal year for SOMOCER ended with a record net loss of TND 28.8 million, compared to 11.9 million in 2023, according to public financial statements released on Thursday, October 16.
This worsening of the deficit occurs in a particularly difficult economic and operational context, marked by a sharp contraction in activity and increased pressure on production costs.
Indeed, SOMOCER’s revenues fell by 36%, dropping from TND 88.7 million in 2023 to TND 56.2 million in 2024. Local sales amounted to TND 49.9 million (down TND 29.9 million in 2023), while exports also fell to 6.6 million (compared to 8.8 million).
Faced with soaring costs of raw materials and energy, the gross margin on materials contracted to TND 7.9 million, compared to 29.5 million the previous year.
The operating result became negative (TND -8.9 million), reflecting a deterioration in operational profitability.
Thus, the operating results show a loss of TND 25 million, compared to a slight profit of 0.9 million in 2023.
SOMOCER has been facing an accumulation of constraints for the past three fiscal years: competition from low-priced illegal imports, rising interest rates, post-COVID supply chain tensions, and the war in Ukraine.
These factors have led to an increase in customer payment defaults and a high financial charge (nearly TND 9.8 million in 2024).
In April 2024, the company was placed under court-supervised administration, before the appointment in May of a judicial representative responsible for its management.
In February 2025, a committee of representatives was established to steer the restructuring and prepare the financial recovery.
Furthermore, management has developed a 2025-2035 business plan aimed at cleaning up the finances and achieving growth.
