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Societe Tunisienne De Verreries: 2 directors
Two Directors at Societe Tunisienne De Verreries bought/sold 1,148,484 shares at 12.190TND. The significance rating of the trade was 100/100. 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 all the company's directors over...
2018 : Une transition économique difficile
Légère reprise de la croissance non accompagnée d’une amélioration des équilibres macroéconomiques en 2017 (hausse des déficits jumeaux, augmentation de l’inflation et du chômage)... ; …Qui devraient toutefois commencer à se résorber grâce à la réforme de la fiscalité introduite dans le cadre de la Loi de Finances 2018 et de la réforme de la fonction publique ; Performance satisfaisante du marché boursier en 2017, notamment des secteurs des technologies et des biens et services industriels… ...
- Fatma HADDAD
A good quarter
During Q3 2017, SOTUVER recorded increasing revenues by 34.4% yoy to TND17.787m. Export revenues have more than doubled (+56% yoy), reaching TND10.852m, a 61% contribution to the quarterly revenues vs. 52.6% in Q3 2016. Local revenues improved by 10.4% yoy to establish at TND6.935m. Since the beginning of the year, SOTUVER’s revenues amount to TND47.895m, a 26.4% improvement compared to 30/09/2016. The export market saw its revenues climb by 20.5% to TND26.210m.
- Fatma HADDAD
Confirmed growth on the local market
During Q2 2017, SOTUVER’s revenues increased by 25.5% yoy to establish at TND16.083m. A growth pulled up by the local market whose sales improved by 46.9%, reaching TND7.195m. The export market also saw its revenues grow, at a less rapid pace than that of the local market, but that is still sustained (+12.3% at TND8.888m). The production value moved from TND13.165m in Q2 2016 to TND21.154m in Q2 2017. Since the beginning of the year, SOTUVER recorded a revenue amounting to TND30.108m, a progre...
- Fatma HADDAD
The local market is doing well
During Q1 2017, SOTUVER’s revenues stood at TND14.025m, a yoy increase by 18.4%. The production improved by 32.8% to reach TND14.268m. The debt, which is equally divided between short term and medium to long term debt (at the opposite of Q1 2016 when it was mostly short term: c. 76.4%), kept a stable level compared to last year and rose by 2% to TND40.259m. Investments amounted to TND0.585m vs. TND1.598m in Q1 2016.
- Fatma HADDAD
As expected…
As usual, for SOTUVER, the last quarter of the year is the most prosperous in terms of revenues, with sales amounting to TND16.696m (vs. a revenue between TND11m and TND13m during the previous quarters). This 5.4% growth brings the annual revenue to TND54.590m, an improvement of 8.1% yoy. The export market still dominates the revenue structure, with sales standing at TND30.615m, a 10.7% yoy rise (c. 56.1% to total revenues vs.
- Fatma HADDAD
Growth always at rendez-vous
During Q3 2016, SOTUVER recorded revenues amounting to TND13.236m, a 27.2% yoy progression that brought revenues realized since the beginning of the year to TND37.894m (+9.4%). The quarter’s production has improved by 7.5% to TND15.654m. The company has also seen its 9M 2016 debt climb by 22.9% to TND39.101m vs. TND31.816m a year earlier. Investments moved from TND2.649m as of 30/09/2015 to TND7.395m as of 30/09/2016.
An expected slowdown
In Q2 2016, SOTUVER’s revenues have shrunk by 6.8% to TND12.813m, bringing revenues recorded since the beginning of the year to TND24.658m vs. TND24.245m recorded during H1 2015. Investments amount to TND4.026m vs. TND1.063m in Q2 2015. The production reached the value of TND13.165m, improving by 4.6% yoy.
Respectable
In Q1 2016, SOTUVER achieved a respectable performance. Sales amounted to TND11.845m, corresponding to a 10.2% y.o.y increase. This growth has been principally boosted by export sales that have improved by 17.5% y.o.y to TND6.839m. However, production has witnessed a drop of 15.2%. Investment moved from TND0.219m in Q1 2015 to TND1.598m in Q1 2016, bringing the bank debt to TND39.446m (+27.2% y.o.y).
Living up to our expectations
At this beginning of the year, SOTUVER has not stopped impressing us. In addition to a stock price that increased by 25.9% YTD, the company recorded a considerable growth during Q4 2015 (+33.29%), catching up the backlog incurred during the previous quarter. SOTUVER closed the year with revenues growing by 12.8%. Furthermore, the investment made in 2015 amounts to TND12.157M, corresponding to an important evolution compared with 2014.
Expected results
SOTUVER recorded Q3 figures down by 4.5% y-o-y (-6.6% for local sales and -3.4% for export sales), limiting the growth of the revenues recorded since the beginning of the year to only 5.4% y-o-y, against 10.3% in H1 2015. On the other hand, investments recorded an important growth (+30%) in Q3 2015 compared to Q3 2014, leading the investments made since the beginning of 2015 to amount to TND2.649M.
The minutes of the Financial Communication
The two furnaces under exploitation are currently operating at 75% of their capacity, a capacity which is expected to reach 100% from 2016. This assumption explains, according to the management, the expected rebound in sales from that date. We believe that a growth rate of around 16% on 2016 is somewhat aggressive. The Algerian market remains the main export destination of SOTUVER's glass packaging products. The management confirms its strategy to further strengthen its position in the European...
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