La Société l’Accumulateur Tunisien ASSAD has published its interim financial statements as of June 30, 2025, marking a return to profitability after four consecutive years of losses.
The company is thus experiencing a gradual recovery, although its operational and legal environment remains complex.
At the end of the first half, ASSAD recorded a net profit of 0.2 million dinars, compared to a loss of 3.8 million dinars for the same period in 2024.
Operating profit more than doubled to reach 2.7 million dinars, reflecting improved margins and better cost control.
Total revenue amounted to 50.8 million dinars, up nearly 20% compared to the first half of 2024 (42.3 MD). This growth is mainly due to the momentum of local sales (27.4 MD compared to 18 MD a year earlier), while exports slightly declined to 23.4 MD (compared to 24.2 MD).
Furthermore, the increase in personnel costs (42.1%) seen in the first half is explained by the ongoing absorption of two loss-making subsidiaries.
This strategic choice, temporarily costly, aims to rationalize the group’s structure and consolidate its profitability in the medium term.
Efforts to reduce debt are visible. Long-term borrowings decreased from 29.7 MD in June 2024 to 16.8 MD as of June 30, 2025, indicating a net reduction in the company’s debt.
However, short-term debt remains heavy, with 6.11 MD in bank facilities and other financial liabilities.
With the publication of these half-year results, the ASSAD share now meets all the conditions to exit compartment 8 on the Stock Exchange and hopes to regain better share liquidity, thereby strengthening the group’s credibility with investors.
Finally, the ASSAD Company is banking on improving its operational performance and restructuring some of its loss-making subsidiaries to consolidate its recovery.
Management states that it has the necessary means to ensure the continuity of operations and continue reducing its debt.
