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Monday 5 June 2023
HomeNewsTunisia: ASSAD's turnover drops 45% in Q1 2023

Tunisia: ASSAD’s turnover drops 45% in Q1 2023

ASSAD’s overall turnover fell by 45.3% in the first quarter of 2023, compared to the same period in 2022, from 25 to 13.7 million dinars.

According to the company, this drop is explained by the delay in renewing the approval of the recycling unit, which had to be stopped for a month. “The activity of the recycling unit returned to normal from mid-February 2023 and the company’s sales resumed normally from March 2023,” ASSAD said.

During the first quarter of 2023, local sales decreased by 58.8% from 11.2 million dinars to 4.6 million dinars between March 2022 and last March. Export sales fell by 34.2% to 9 million dinars, compared to 13.8 million dinars last year.

Nevertheless, the production of the quarter posted an increase of 42% compared to the same quarter of 2022 to reach 162,669 units (standard battery equivalent).

In addition, investments in the period were in the order of 1.3 million dinars, and the company’s total debt increased to 94.9 million dinars as of 31 March 2023 compared to 91.2 million dinars as of 31 December 2022.


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