Société d'Articles Hygiéniques stock reports stronger H1 profit

Published on 10/04/2026 at 13:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Société d'Articles Hygiéniques stock was last at TND 12.290 on October 2, 2026. H1 revenue reached TND 230.5 million as operating profit rose 26.8 percent.

SAH, TN0007610017, Illustration mit AI erstellt.

Société d'Articles Hygiéniques stock (ISIN TN0007610017) was last at TND 12.290 on the Bourse de Tunis on October 2, 2026 at 4:16 p.m. CET, down 0.49 percent for the session. As Challenges TN reported on September 17, 2026, the company's first-half figures showed modest revenue growth but a much stronger improvement in operating profit.

Export lifts operating profit

For the six months ended June 30, 2026, SAH generated TND 230.5 million in revenue, up 4.5 percent from TND 220.5 million in the same period of 2025, according to Leconomiste Maghrebin on September 16, 2026. Export sales were the clearest growth engine, rising 38.4 percent to TND 43.7 million and reaching 19 percent of revenue.

Challenges TN said operating profit climbed 26.8 percent to TND 39.9 million, lifting the operating margin to 17.1 percent from 14.2 percent a year earlier. The comparison matters because profit growth outpaced sales growth by more than 20 percentage points, pointing to stronger cost absorption and pricing discipline.

Financial costs temper earnings

The bottom line improved less quickly. Net income rose 8.0 percent to TND 24.1 million, while net financial expenses increased 30.3 percent to TND 13.4 million, according to TeraFinances in its September 15, 2026 analysis. Foreign-exchange losses reached TND 2.8 million, while the individual earnings per share increased to TND 0.29 from TND 0.27 in the first half of 2025.

Cash flow adds a second counterpoint to the operating improvement. TeraFinances reported operating cash flow of TND 19.7 million for the first half of 2026, compared with TND 11.3 million a year earlier, but cash declined to TND 19.3 million after TND 31.6 million of financing outflows and a TND 33.6 million dividend payment.

SAH stock stays below its 2025 close

At TND 12.290 on October 2, 2026, SAH stock stood 11.6 percent below its TND 13.900 close for 2025, while its market capitalization was TND 1.0 billion. The market is therefore weighing a sharper operating recovery against higher financial costs, lower cash and the effect of shareholder distributions.