The turnover of the Société Générale Industrielle de Filtration (GIF FILTER) SA, specializing in the manufacture and marketing of fuel and oil filters, recorded a sharp drop of 1.427 million dinars (435,645 euros) in end of the 2021 financial year compared to the same period of 2020, announced the managers of this company based in Grombalia (40 km south-east of Tunis).
This turnover amounted to 1.276 million dinars as of December 31, 2021 against 2.703 million dinars a year earlier, i.e. a drop of 53%. This decline is mainly caused by export sales with a sharp drop of 100%. Indeed, GIF FILTER recorded zero export turnover during the period under review against 938,507 dinars in 2020. Local sales also fell by 28% to 1.276 million dinars.
According to company officials, production in quantity decreased during 2021 by 54% compared to the same period of 2020, amounting to 162,525 units against 349,794 units.
As for the company’s debt, it increased by 17%, standing at 3.897 million dinars against 3.339 million dinars in 2020.
The company’s net cash is up by 5% with an achievement of 1.768 million dinars as of December 31, 2021 against 1.688 million dinars a year earlier.
