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HomeNewsTunisia: Car dealer ARTES sees its half-year profits fall by 15%

Tunisia: Car dealer ARTES sees its half-year profits fall by 15%

The company “Automobile Réseau Tunisien &Service” (ARTES), car dealer of RENAULT and DACIA brands, has just published its interim financial statements closed on June 30, 2022.

The company has achieved a net profit of 11.3 million dinars, at the end of the first six months of the year, against 13.2 million at the end of June 2021, a decline of 15%, due to the sharp decrease in revenues.

Indeed, the turnover of the dealer fell from 123 million dinars to 63.5 million between June 2021 and June 2022, dropping 48%. These revenues come mainly from sales of new vehicles (58.5 million dinars) and sales of spare parts (2.7 million dinars).

Similarly, operating expenses show a sharp decline of 50% to 51.7 million dinars, against 104 million at the end of the first half of last year.

Consequently, the operating result is down 36% to 12.5 million dinars, against 19.4 million a year earlier.

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