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Societe Industrielle d`Appareillage et de Materials Electriques: 3 dir...

Three Directors at Societe Industrielle d`Appareillage et de Materials Electriques bought/sold 381,714 shares at 3.530TND. The significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by al...

Fatma HADDAD
  • Fatma HADDAD

A good quarter

During Q2 2017, the revenues of the parent company have almost doubled (+49.4% yoy), reaching TND7.884m. The local market has well done, with a revenue moving from TND3.005m in Q2 2016 to TND5.313m a year after. Export sales also improved, by 13.2% to TND2.570m. Investments amount to TND0.645m vs. TND0.322m in Q2 2016. The production climbed by 37.8% to establish at TND6.988m. On a yearly basis, SIAME recorded revenues amounting to TND13.917m, a 25.9% yoy increase.

Fatma HADDAD
  • Fatma HADDAD

The trend is reversed

During Q1 2017, SIAME’s revenues improved by 4.35% yoy to reach TND6.034m. An increase which, unlike the end of FY 2016, is pulled up by the export market whose revenues climbed by 67.5% to TND2.096m, representing 34.7% of total revenues vs. 21.6% a year ago. However, the local market witnessed a fall by 13% to TND3.938m. Production rose by 31% to stand at TND6.939m. Investments set at TND372,618 vs. TND88,221 a year ago.

Fatma HADDAD
  • Fatma HADDAD

Failing export

During Q4 2016, the parent company’s revenues deteriorated by 5.16% to TND7.166m. This decline is driven by the export market whose sales witnessed a decrease of 33.6% yoy to stand at TND2.228m. However, the local market, unlike the first half of the year, pursued the upward trend observed in Q3 2016, by registering an improvement of 17.6% yoy, at TND4.938m. SIAME closed the year 2016 with a revenue drop of 12.9% to TND24.300m.

Fatma HADDAD
  • Fatma HADDAD

The export market confirms its collapse

During Q3 2016, SIAME’s revenues recorded a shy increase by 1.78% to TND6.076m. However, revenues registered since the beginning of the year have significantly deteriorated (-15.77% yoy to TND17.134m vs. TND20.342m as of 9M 2015). The production value has also worsened by 8% to TND5.433m, causing a considerable decline of the production realized since January 1st, 2016 (-20.58% to TND15.792m). Investments engaged since the beginning of the year kept an almost stable rhythm (+1.29% to TND0.595m...

The export market carries on its downturn

By the end of Q2 2016, SIAME’s revenues recorded a 20.5% yoy drop, at TND5.275m, bringing the revenues registered since the beginning of the year to TND11.057m, a 23% decline compared to H1 2015. Investments amount to TND0.322m, falling by 18.7% compared to Q2 2015. However, the company has seen its debt go up (+17.8% to TND7.384m) despite a weak investment effort.

Suffering from the collapse of exports

In Q1 2016, the parent company recorded revenues in decline by 25.26% y.o.y to TND5.782m. This drop concerns the local market (-3.5% to TND4.531m) as well as the export one which has seen its sales tumble significantly by 58.8%. Production fell by 18.28% to TND5.289m. Investments have barely reached the TND0.088m threshold, representing a 31% deterioration compared with Q1 2015. On the other hand, the company’s debt shrunk by 14% to TND6.951m.

Disappointing figures

During Q4 2015, the parent company's revenues declined by 3.74% yoy, mainly driven by the drop of the local sales (-5.52%). On a yearly basis, revenues are at the same level as those of 2014. This level has been sustained by a prosperous first quarter (+28.4%), despite a continuous decrease during the next three quarters.

A modest growth

SIAME's 9M individual revenues increased by 1.5% y-o-y, principally driven by the increase of the export revenues (+1.48% since the beginning of the year and +16.16% in Q3 2015 compared to Q3 2014). However, local revenues decreased by 6.36% y-o-y, given the decline by almost TND1M on a quarterly basis. On the other hand, investments grew by 120% on the January-September 2015 period, compared to the same period in 2014.

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