The highlights of the activity of STIP (Société tunisienne des industries pneumatiques) in the second quarter of 2020 are summed up as follows
– The 20.875% decrease in local sales compared to the data for the same period in fiscal year 2019;
– A 52.293% decrease in export sales compared to the same period in fiscal year 2019; and
– The 26,718% decrease in total sales compared to the same period in FY 2019;
– 78,343% increase in production compared to the same period in fiscal 2019.
In addition, and following the lockdown in prevention against the spread of the coronavirus, the company’s activity was impacted mainly by:
– A 99% drop in turnover in April 2020 compared to April 2019.
– Termination of the exclusivity contract for the sale of STIP products on the African market.