The Tunisian Accumulator Group ASSAD, a national leader in the manufacturing and marketing of batteries, achieved a remarkable recovery in 2024, marked by a return to profitability and a significant improvement in its consolidated financial indicators.
The Group’s consolidated revenue reached 153.4 million dinars in 2024, an increase of over 30% compared to 2023 (117.6 million dinars).
This growth resulted from improved sales in both domestic and export markets, particularly driven by its subsidiaries in Algeria and Europe.
Operating profit amounted to 17.1 million dinars, compared to just 1.1 million dinars in 2023, reflecting a strong improvement in the operating margin.
The Group’s consolidated net income attributable to the parent company reached 4 million dinars, compared to a loss of 9.6 million dinars, the previous year.
ASSAD undertook a major restructuring of its expenses: provisions were halved, decreasing from 8.9 million to 4.5 million dinars.
Operational efficiency improved, despite still significant operating costs (notably in logistics and taxes), which were kept at a level comparable to the previous year.
The Group generated an exceptional operating cash flow of 27.1 million dinars (compared to 9.3 million dinars in 2023).
This result allowed for partial debt repayment: loans were reduced by 13.4 million dinars, and bank overdrafts by 5.6 million dinars.
At the end of the fiscal year, net cash turned positive, reaching 1.7 million dinars, compared to a deficit of 3.1 million dinars, one year earlier.
In 2024, ASSAD faced a major legal dispute with Tunisian Customs. The Group, claiming good faith and asserting that it complied with all regulations, has appealed the rulings. The hearing, initially scheduled for May 9, 2025, has been postponed to September 26, 2025.
Meanwhile, the parent company has submitted a request to join the customs amnesty program established by the 2025 Finance Law.
A proposal from Customs dated May 2, 2025, set the total amount of taxes, duties, and penalties owed at 20.3 million dinars, to be paid in 20 quarterly installments through January 27, 2030.
