Tunisia: SIAME's sales down 9% in Q1
The Société Industrielle d'Appareillage et de Matériels Electriques (SIAME) has published its business indicators for the first quarter of 2025, reporting a decline in sales.
Turnover reached TND 10.7 million dinars compared to TND 11.8 million for the same period in 2024, recording a contraction of 8.6% or a decrease of TND 1.1 million.
This decline was mainly due to the deterioration in sales on the local market, which fell by 14.4% to TND 6.9 million from TND 8.1 million a year earlier. This decline occurred despite a 26.8% increase in sales to Société Tunisienne de l'Electricité et du Gaz (STEG).
However, this performance was overshadowed by a significant drop in sales to the local private sector, which fell by 36.1% or TND 1.9 million.
The company explains this decline by the gloomy economic environment and the seasonal impact of the month of Ramadan, which coincided with the entire month of March 2025.
On the international front, export revenues increased by 4.4% from TND 3.7 million to TND 3.8 million, partially mitigating the effect of the local contraction.
As part of its efforts to optimize production, SIAME stepped up its investment program. Investments in the first quarter of 2025 reached 844 thousand dinars, more than triple the TND 256 thousand invested in the same period of 2024.
On the debt side, the company's total bank debt increased by 3.5% in three months, from TND 25.6 million on December 31, 2024 to TND 26.5 million on March 31, 2025. This increase is mainly due to payments to suppliers.
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