SOTIPAPIER’s sales in the first half of 2023 fell by 35% compared with the same period in 2022, to 53.8 million dinars compared with 83.4 million.
This decrease was due to the decline in sales of both kraft paper (-39%) and corrugated paper (-33%), as a result of the simultaneous fall in volumes sold and selling prices.
Demand for paper has fallen sharply in recent months, both on the international market and in Tunisia. The company does not expect business to pick up in the third quarter, as volumes will continue to fall and prices will remain under pressure. “The years 2023 and 2024 will be dedicated to the implementation and commissioning of new equipment in order to modernize our production facilities and take full advantage of the next upturn,” SOTIPAPIER stresses.
Production fell from 30,259 tons in the first half of 2022 to 20,412 tons in the first half of 2023, down 9,847 tons (-33%). The production of kraft sack paper decreased by 4,342 tons (-39%) and the production of corrugated base paper (testliner and fluting) decreased by 5,505 tons (-29%).
Total investments made and in progress at the end of the first half of 2023 amounted to 9.5 million dinars, compared to 7.1 million dinars in the same period of 2022.
The company’s net debt fell from 51.8 million dinars at the end of the first half of 2022 to 36.1 million dinars at 30 June 2023, a reduction of 15.6 million dinars.
