The ASSAD Group has reported a consolidated net profit of over 3.3 million dinars for the fiscal year 2025, signaling a definitive return to profitability as the industrial conglomerate continues to navigate ongoing customs litigation and a comprehensive internal restructuring.
According to the company’s consolidated financial statements, the strong performance reflects a significant improvement in both operational efficiency and financial health, despite the lingering uncertainty of unresolved customs disputes.
The results are particularly notable given that management executed several accounting clean-up operations during the year to provide a more accurate representation of the group’s financial position.
A key highlight of the fiscal year was the aggressive handling of loss-making subsidiaries. The group undertook a near-total provisioning of its stakes and receivables in its most fragile units, effectively clearing a substantial portion of the legacy risks that had weighed on the balance sheet in previous years.
Among these, ASSAD International no longer represents a major financial concern following these impairments. The integration of the subsidiary into the parent company’s operations is now well advanced, aligning with a broader recalibration of the group’s overall size.
In a strategic pivot, subsidiary ENAS has permanently abandoned its historical lead-based operations and is now undergoing restructuring and relaunch around lithium and light electric mobility.
Management indicated that the financial impact of this transformation is already largely anticipated by provisions previously booked.
On the asset side, ASSAD carried out a revaluation of its real estate holdings, generating a revaluation surplus of nearly 39 million dinars. This accounting adjustment has significantly strengthened consolidated shareholders’ equity and improved the overall resilience of the company’s balance sheet.
Notably, a correction related to certain customs fines did not impact the 2025 bottom line. In accordance with applicable accounting standards, this adjustment was recorded directly against opening equity rather than as an expense for the current period.
As a result, the 2025 profit reflects the group’s genuine economic performance for the year, free from prior-year charges.
The group also continues to reduce its debt burden while maintaining positive cash generation. Commercial activity remains robust, with particularly strong sales growth in the domestic market.
“The 2025 accounts mark a significant milestone in the ASSAD Group’s turnaround,” a company spokesperson stated.
“With a return to profitability, a simplified consolidation scope, reduced structural costs, reinforced equity, and the progressive mitigation of risks tied to ailing subsidiaries, ASSAD now presents a significantly stronger financial profile compared to previous years.”
Looking ahead, the primary challenges for the group remain the final resolution of the customs-related disputes and the continued operational improvement of its core businesses.
