At the end of the first three months of the current year, SOTETEL recorded total revenues of 15 million dinars, an increase of 17.5% compared to the same period last year.
This significant increase is mainly due to the local business, which recorded a robust growth of 18.8% to reach 14.3 million dinars. On the other hand, export revenues fell by 10.6% to just 457 thousand dinars, a decline that partially dampened the overall performance.
On the cost side, operating expenses increased by 18.4% to 14.5 million dinars. This increase was mainly due to a sharp rise in purchases, which increased by 29.6% to 8.8 million dinars.
This trend can be explained by an increase in the purchase of project supplies, which are often delivered without the provision of services, as well as an increased reliance on subcontracting, particularly in the civil engineering sector.
Personnel costs increased more moderately by 4.8% to 4.6 million dinars, while other operating costs grew slightly by 3.4% to 1 million dinars.
This increase in costs had an impact on operating profitability. EBITDA decreased slightly by 2.6% from 570 thousand dinars in the first quarter of 2024 to 555 thousand dinars in 2025.
This slight decline, caused by the increase in operating costs, should not increase the pressure on the company’s margins in the coming quarters, as the company’s EBITDA reached 9.2 million dinars at the end of 2024, compared to only 0.5 million in the first quarter of the same year.
All in all, SOTETEL enters 2025 with a positive commercial dynamic in a context of generally rising costs.
