The year of 2022 has been an excellent year for the SAH Lilas Group in terms of growth of revenue and profitability thanks, in particular, to the sharp increase in regional sales by 46,4%.

On 31st December 2022, the SAH Lilas Group's cumulative consolidated revenue reached 862.9 million Dinars, which represents an increase of 28,7% compared to 2021. The sales of the fourth quarter amounted to 249.6 million Dinars, a 31,6% increase compared to the fourth quarter of 2021.

The increase in cumulative consolidated revenues is particularly driven by Azur Papier, with revenues (restated for inter-group sales) reaching 106.4 million Dinars by the end of December 2022, or 2.5 times its revenues on 31st December 2021.

Such an increase is partly explained by the entry into operation of the second line of Azur Papier. The net sales of Azur Détergent reached 167.5 million Dinars, or a global increase of 18.3%.

Also, total exports of detergents more than doubled between 2021 and 2022. SAH Tunisia also recorded growth of 19.4%, in line with the performance achieved during the third quarter of 2022.

The resumed growth of sales from the Libyan subsidiary is confirmed with a quarterly increase of 49.3%, bringing overall growth to 52.3% compared to 2021. SAH Algeria's sales reached 52.5 million Dinars, an annual growth of 17.8%, representing 6.1% of the group's sales.

Sales of the sub-Saharan subsidiaries, SAH Côte d'Ivoire and SAH Senegal, respectively increased by 8.6% and 98.6%.

The breakdown of consolidated net revenues (restated from inter-group sales) per subsidiary shows that SAH Tunisia contributes up to 55.8%, followed by Azur Détergent and Azur Papier whose sales respectively represent 19.4% and 12.3% of overall sales.

In addition, the overall debt level increased from 194.6 million Dinars on 31st December 2021 to 216.1 million Dinars by the end of last December. Despite the slight decline in long- and medium-term debt, the overall debt level increased as a result of the increase in short-term debt. This is explained by the continued rise in raw material prices and its direct impact in terms of inventory financing commitments.

Outlook 2023


The SAH Group foresees the year 2023 as a continuity of the year 2022, with strong growth in terms of revenues and the continued improvement of margins, thanks in particular to the promising prospects of its traditional export markets and the planned launch of the cosmetics range.

In Libya: The additional paper towel line has been mounted and is currently being tested.

In Senegal: The mounting of the second paper towel line is completed. A new baby diaper line should be set during the 1st quarter of 2023.

In Côte d'Ivoire: A machine for the production of baby diapers is scheduled to be mounted for the 2nd quarter of 2023.

In Tunisia: A new machine for the production of wipes came into operation in December 2022. SAH also continues to develop its cosmetics range.

The company plans to market liquid soap, shampoo, conditioner, shower gel and deodorant, benefiting from group synergies in terms of distribution and sales force.

Download the activity indicators as of 31st December 2022