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Tunisia: SOTUVER improves its net profit by 35% to 16 million dinars in 2020

The Tunisian Glass Company, SOTUVER, has published its financial statements ended December 31, 2020. These statements show a net profit of 16.3 million dinars, against 12 million a year earlier, a growth of 35%.

This development is mainly the result of the realization during the year 2020 of a capital gain on disposal of assets for 6 million dinars.

The company has, however, seen its turnover decline by 6% to 91 million dinars, against 96.6 million in 2019, including 49 million from exports.

As for operating expenses, they fell from 81.6 million dinars in 2019 to 75.8 million at the end of last December, down 7%.

As a result, the operating result comes out almost stable to stand at 16.4 million dinars, compared to 16.8 million in 2019.

Net financial expenses continued to rise in 2020 to reach 5.1 million dinars, compared to 4.2 million in the previous year, including 2.9 million dinars related to interest on loans and 1.1 million interest on financing operations.


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