Tunisian accumulator ASSAD has just published its financial statements for the year ended December 31, 2022, which will be submitted for approval to the ordinary general meeting on October 2, 2023.
Last year, the company plunged further into the red, posting a net loss of TND 8 million, compared with a deficit of TND 7.7 million in 2021.
The battery maker generated sales of TND 102.2 million last year, compared with TND 96.5 million in 2021, an increase of 6%.
Operating expenses rose from TND 96.5 million in December 2021 to TND 101.8 million last December, including TND 62.8 million in purchases of supplies and TND 15.5 million in personnel costs.
This resulted in an operating profit of TND 970,000 compared to TND 487,000 in 2021.
However, the net profit for the year was affected by net financial expenses of TND 8.8 million, an increase of 11%.
