STEG International Services has published its financial statements for the year ended December 31, 2023, which will be submitted for approval to the Ordinary General Meeting to be held on July 30, 2024.
In 2023, the STEG subsidiary achieved a total turnover of 155 million dinars, 98% of which came from exports, compared to 142.8 million dinars (96% from exports) in 2022, an increase of 9% (+12.2 million dinars).
This sales figure is mainly due to revenues from projects in Rwanda, Tanzania, Guinea and Benin totaling 147.7 million dinars, representing approximately 95% of total sales.
Trade receivables decreased by 19% from 124 million dinars to 100.7 million dinars at the end of December.
They represented 65% of sales and 34% of total assets in the balance sheet at December 31, 2023.
Operating expenses reached 146.6 million dinars, compared to 135.8 million dinars in 2022, an increase of 8%, mainly due to the progress of the largest projects.
As a result, the company will post a net profit of 1.6 million dinars in 2023, compared to a profit of 2.4 million dinars in the previous year, a decrease of 32%.
