SOTEMAIL has published its interim financial statements for the six months ended 30 June 2023. These statements show a 40% reduction in the net deficit compared with the first half of 2022.
In fact, the manufacturer of ceramic tile enamels, faience tiles, stoneware and decorations posted a net loss of around TND 1.8 million in the first half of the year, compared with a net deficit of TND 3.1 million at the end of June last year.
SOTEMAIL generated sales of TND 32.6 million in the six months to June 30, compared with TND 31.3 million in the same period last year, an increase of 4%, driven by the local market, which accounted for 83% of total sales.
On the export market, sales fell slightly by 5% from TND 5.4 million in 2022 to TND 5.1 million in 2023.
Operating profit for the period came to a surplus of TND 2.8 million, compared with just 35 thousand dinars a year earlier.
However, net financial expenses continued to weigh on the company’s net profit, totaling TND 4.4 million at the end of June, compared with TND 3.4 million a year earlier.
In addition, investments made during the first half of the year amounted to TND 1.6 million, and mainly concerned the maintenance of production tools.