SAH reports 8 percent profit growth: what it means for SAH stock

Published on 10/14/2026 at 07:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Operating profit reached TND 39.90 million in the first half. For SAH stock, cash stood at TND 19.34 million on June 30, 2026.

Profit growth and cash position

SAH reported TND 24.09 million in first-half net profit on September 16, 2026.
Operating profit reached TND 39.90 million after rising 26.80 percent in the first half of 2026.
SAH's cash stood at TND 19.34 million on June 30, 2026, while net debt reached TND 270.20 million.
The legal deadline for third-quarter 2026 activity indicators is October 20, 2026.

SAH, TN0007610017, Illustration mit AI erstellt.

SAH (ISIN TN0007610017) reported first-half net profit of TND 24.09 million on September 16, 2026, up 8.00 percent from TND 22.30 million a year earlier, according to Leconomiste Maghrebin. The result gives SAH stock a stronger earnings base, but cash conversion remains central to the investment case.

What does profit growth mean?

The operating result rose 26.80 percent to TND 39.90 million in the first half of 2026, while revenue increased 4.50 percent to TND 230.50 million. Challenges TN reported that exports rose 38.40 percent to TND 43.70 million and represented 19.00 percent of revenue.

The contrast between sales and operating profit is significant for the earnings profile. TeraFinances reported an operating margin of 17.10 percent, compared with 14.20 percent in the first half of 2025, while the EBITDA margin reached 21.00 percent.

Cash and debt shape the next test

Financial pressure increased below the operating line. Net financial charges rose 30.30 percent to TND 13.40 million, including TND 2.80 million in foreign-exchange losses, according to Challenges TN. Net profit therefore grew more slowly than operating profit.

Cash fell to TND 19.34 million on June 30, 2026, from TND 36.59 million at the end of 2025, while net financial debt reached TND 270.20 million. Financing outflows totaled TND 31.60 million and included TND 33.60 million in dividends, making balance-sheet discipline an important counterweight to export growth.

Dates for the next results

The chronology shows the September 15, 2026 publication of the interim financial statements, the June 30, 2026 reporting date and the June 9, 2026 annual meeting, where Mizen records a TND 0.400 dividend per share for the 2025 financial year. The next dated company event is the legal deadline of October 20, 2026 for third-quarter activity indicators, as listed by Mizen.

Market identity and investor lens

Mizen identifies SAH as a company listed on the Bourse de Tunis in the household products and personal care segment, with 84,015,979 shares and a market capitalization of TND 1,016.60 million on October 7, 2026. The company sells hygiene products under the Lilas brand, and its export performance gives the first-half figures a regional growth angle.

For investors, the key calculation is whether the 26.80 percent operating-profit increase can continue to outpace financing costs and cash demands. The October 20 reporting deadline offers the next dated checkpoint for revenue, export momentum and liquidity.

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