The Société Tunisienne d’Entreprises de Télécommunications (SOTETEL) has just published its financial statements for the year ended 31 December 2022, which will be submitted for approval to the Ordinary General Meeting convened to approve the financial statements for the year ended December 31, 2022.
These accounts show a net profit of 1.2 million dinars, compared with a loss of 254 thousand dinars in 2021.
This performance is the result of the combined effect of the company’s revenues growing faster than its operating costs. Revenues reached 50 million dinars, compared to 39 million in 2021, an increase of 26%.
Operating expenses rose from 40 million dinars at the end of December 2021 to 48.4 million dinars at the end of December last year, up 21%, including 25.9 million dinars in purchases of consumables (+35%) and 14.5 million dinars in personnel costs (+6%).
As a result, the operating profit will rise sharply from 194 thousand dinars to 2.3 million dinars between 2021 and 2022.
