TAWASOL GROUP HOLDING has published its consolidated financial statements as of December 31, 2023, which will be submitted for approval at the Ordinary General Assembly meeting for the 2023 financial year.
These statements show a consolidated net loss attributable to the group of 866 thousand dinars, compared to a net profit of 1.1 million dinars the previous year.
This poor performance stems from a drop in revenues and an increase in net financial expenses. Indeed, the group’s turnover fell from 97 million dinars in 2022 to 72.2 million dinars at the end of December 2023, marking a 25.5% decline.
Operating expenses amounted to 67.7 million dinars in 2023, compared to 87.7 million dinars the previous year, a 22.7% decrease.
These expenses mainly consist of supply purchases (43.1 million dinars), personnel costs (8.2 million dinars), and other operating expenses (14.6 million dinars).
As a result, operating profit came in positive at 6.2 million dinars but down from the 9.5 million dinars recorded in 2022.
However, net financial expenses rose to 10.7 million dinars in 2023, compared to 7.1 million dinars in 2022.
