Tunisia: SOTETEL falls back into the red in 2021-

June 21, 2022

The Tunisian Company of Telecommunications Enterprises (SOTETEL) has published its financial statements as at December 31, 2021 as they will be submitted for approval to the Ordinary General Assembly ruling on the year 2021.

These statements show a net loss of 255,000 dinars, against a net profit of 3.9 million dinars in 2020. However, the subsidiary of “Tunisie Telecom” manages to achieve a positive operating result of 194,000 dinars, against a negative result of 6.7 million dinars in 2020.

Indeed, the net profit in 2020 is attributed to the realization of investment income of about 12 million dinars, against only 825,000 dinars last year.

At the operating level, the company has seen its income increase by 23% at the end of the year 2021 to 40.1 million dinars. As for operating expenses, they have almost stagnated at 39.9 million dinars.

In addition, the net financial expenses stood at 1.5 million dinars, almost the same amount as that of 2020.

According to the auditors’ report, several accounts remain unjustified at the end of 2021.

He added that SOTETEL has not finalized the work of justification of old amounts appearing in the account customer “Tunisie Telecom”, and has not defined, therefore, a method of provisioning of old amounts not yet recovered.



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