SAH stock: SAH reports 2.60 percent growth. One analyst targets SAH stock at TND 14.20

Published on 10/22/2026 at 02:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month revenue reached TND 745.7 million, up 2.60 percent year over year in 2026. SAH stock carries a TND 14.20 target from one analyst.

Growth drivers and constraints

Consolidated revenue reached TND 745.7 million by September 30, 2026, up 2.60 percent year over year.
Third-quarter sales totaled TND 247.6 million, down 2.80 percent from the same period of 2025.
One analyst target stands at TND 14.20 for the next 12 months.

SAH, TN0007610017, Illustration mit AI erstellt.

SAH (ISIN TN0007610017) reported consolidated net revenue of TND 745.7 million for the nine months ended September 30, 2026, up 2.60 percent from TND 726.9 million a year earlier, according to ilBoursa on October 20, 2026. The release puts growth beside a weaker third quarter, making subsidiary performance and operating disruptions the key read-through for SAH stock.

What drove the nine-month result?

The group added TND 18.8 million in revenue year over year. The increase came despite repeated power cuts that affected Tunisian operations during the third quarter, Tustex reported on October 20, 2026.

Azur Detergent sales rose to TND 143.4 million from TND 131.5 million in the same period of 2025, an increase of 9.20 percent. Azur Cosmetique generated TND 64.9 million, up 25.00 percent year over year, while SAH Senegal sales increased 62.60 percent, according to ilBoursa.

How much came from subsidiaries?

The quarterly split shows the pressure clearly. Third-quarter group sales reached TND 247.6 million, down 2.80 percent from the same quarter of 2025, while international sales fell 5.80 percent. The Libyan dinar depreciation also reduced nine-month revenue by TND 8.9 million at constant exchange rates.

At the same time, the group remained diversified across Tunisia and African markets. The company describes itself as a hygiene-products manufacturer and distributor serving several African markets, while Irbe7 identifies SAH as listed on the Tunis Stock Exchange under the SAH symbol.

What valuation figure matters?

Investing.com lists one analyst 12-month target of TND 14.20, alongside a reported 52-week range of TND 11.92 to TND 14.81. That target frames the market discussion around continued subsidiary growth, while the third-quarter decline and currency pressure remain material counterweights.

SAH remains a subsidiary-led growth story

For investors, the latest numbers point to a split operating picture: consolidated revenue advanced 2.60 percent through September, but the quarterly pace weakened as electricity outages and currency effects weighed on sales. The strongest contributions came from Azur Detergent, Azur Cosmetique and SAH Senegal.