Real estate company Essoukna has just published its business indicators as of March 31, 2026. Driven by the completion of major projects, the company posted a strong increase in commercial performance compared to the previous year, despite a still challenging sector environment.
Sharp acceleration in revenue
At the end of the first quarter of 2026, Essoukna recorded revenue of 5.164 million Tunisian dinars (TND), compared to TND 3.065 million during the same period in 2025.
This significant 68% increase is mainly due to the administrative completion of strategic projects. Indeed, obtaining the official acceptance certificates in 2025 for developments in El Menzah 9 C and Manouba made it possible to finalize property transfers.
A breakdown of revenue highlights the dominance of housing, which generated TND 4.564 million during the quarter, whereas no sales in this category were recorded in Q1 2025.
Sales of shops and offices also increased to TND 0.558 million, up from TND 0.181 million a year earlier. Conversely, sales of serviced land plots declined sharply, dropping from TND 2.88 million to just TND 41,310.
Profitability and inventory management
This commercial momentum had a positive impact on gross profitability indicators. Gross value-added reached TND 1.73 million (compared to TND 1.25 million in 2025), while EBITDA surged to TND 1.30 million, marking an increase of nearly 96% compared to TND 0.66 million the previous year.
The inventory structure reflects the company’s operational activity:
- Work in progress: TND 25.35 million, up from TND 22.34 million in March 2025, reflecting ongoing construction projects.
- Finished goods: decreased to TND 20.51 million, indicating faster sales of completed units.
- Building land: stable at TND 11.55 million, ensuring a land reserve for future projects.
Outlook and order book
The short-term outlook appears secure thanks to a solid order book. As of March 31, 2026, the total of completed sales and firm commitments reached TND 11.015 million. With TND 5.85 million in sales agreements still to be finalized by year-end, the company has strong visibility on future revenues.
Operationally, two major construction sites are currently mobilizing technical teams in Manouba and Nouvelle Médina 3. Expenditures on works and studies during the quarter amounted to TND 2.62 million.
Finally, the financial structure remains stable, with financial assets at TND 5.93 million and a notable decline in customer advances, which dropped from TND 7.81 million to TND 2.10 million, reflecting the conversion of deposits into actual sales.
