AlphaMena Corporate Services - Societe Generale Industrielle de Filtration S.A. (GIF) A sluggish Q4 2016

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AlphaMena Corporate Services

Meriem KADDOUR

EUR 236.14 For Business Accounts Only

A sluggish Q4 2016

By the end of December 2016, the revenues had decreased slightly by -1.1% to TND12.034m vs. TND12.166m a year ago. The domestic market showed a drop of 1% to TND9.420m. The export sales decreased by 1.5% to reach TND2.613m.
Furthermore, the production was up by 2%, yoy.
The investments engaged during 2016 amounted to TND0.805m vs. an investment of TND2.437m by the end of 2015, oriented mainly to the acquisition of transport and industrial equipment (TND0.575m).
The debt amounted to TND2.015m vs.

01/02/2017 2 EN

Underlying

Societe Generale Industrielle de Filtration S.A.

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TN0007130016 Tunis Stock Exchange Tunisia

Provider

AlphaMena Corporate Services

AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.

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Analysts

Meriem KADDOUR

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A sluggish Q4 2016

Clearer sky

Moody's: BNP Paribas and Societe Generale will continue to feel pinch from ultra-low interest rates, but geographic and business diversification will help to offset pressures on profitability

A good Q1

Resilient despite the turmoil

Tough year but better long term perspectives (Jordan Ahli Bank)

A boost is needed

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