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Tunisia: ASSAD Group multiplies its losses by three in 2021 to 13 million dinars

The Tunisian Accumulator ASSAD has published its individual and consolidated financial statements closed on December 31, 2021 as they will be submitted for approval to the Ordinary General Assembly held Wednesday, June 29, 2022.

At the end of 2021, the ASSAD group has almost multiplied its consolidated losses by three to reach 13.2 million dinars, against a deficit of 4.75 million in 2020.

As for the individual net result, it comes out with a deficit of 7.7 million dinars, against a profit of 2.5 million in 2020.

The group’s turnover has almost stabilized last year at 124.7 million dinars, while operating expenses have increased by 8% to 126.4 million dinars. Consequently, the operating result of the group is negative 1.6 million dinars, against an operating surplus of 6.2 million dinars.

The company emphasizes that the Russo-Ukrainian conflict has an effect of scarcity of lead supply on the international market since Russia and Ukraine are producer and exporter countries of this mineral.

This reduces the future supply of lead on the international market and tends to increase its price, the company said.

In addition, the conflict has increased the cost of freight on the international market and tends to increase the price of oil and oil derivatives, including plastic. This puts inflationary pressure on the future prices of some of the inputs used by the company such as bins, lids and separators, which are plastic-based products, according to the company.

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