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HomeNewsTunisia: SOTUVER announces turnover of 92 million dinars in 2020

Tunisia: SOTUVER announces turnover of 92 million dinars in 2020

SOTUVER has managed, despite a serious universal health crisis and border closures caused by the spread of the COVID-19 pandemic, to achieve, by December 31, 2020 a turnover of 91.8 million dinars, a slight decline of 6% compared to the revenues of 2019.

This represents a performance, compared to the sharp falls recorded throughout Tunisia and the world.

On the domestic market, the cumulative turnover saw a remarkable rise of 10% to 49 million dinars, compared to 44.6 million in 2019.

In the last quarter of 2020, local sales grew 3% from 12.8 million dinars to 13.2 million.

In exports and despite the impact of the second wave of the pandemic, SOTUVER managed to limit the decline to 5% in the fourth quarter compared to the achievements of the same period of the previous year.

In total, cumulative export sales reached 42.8 million dinars in 2020.

Despite this decline and thanks to domestic sales intended for export (7.16 million dinars or the equivalent of 9% of total turnover), SOTUVER still retains its status as a company mainly exporting with 54% of export turnover.

Notwithstanding the exceptional circumstances caused by the spread of the COVID-19 pandemic, the value of production recorded an increase of 2% in the year 2020 compared to the year 2019, or 94.7 million dinars.

The overall debt as of December 31, 2020 totaled 56.3 million dinars, up 10.2 million compared to December 31, /2019, justified by the participation in the capital of the new subsidiary SOTUVER GLASS INDUSTRIES (SGI) and the partial financing of the acquisition of a new triple-drop machine.

Taking into account cash and investments, net debt will fall from 41.9 million dinars in 2019 to 39.5 million dinars in 2020, a reduction of 6%.

The investments made during the year 2020 total 15.2 million dinars and relate mainly to the acquisition of a new triple-drop line for a value of 11.4 million dinars and the release of 50% of the stake in cash in the capital of the new subsidiary SGI for a value of 1.2 million dinars.

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