CELLCOM has published its activity indicators for the second quarter of the current year. At the end of last June, the company achieved a turnover of 12.2 million dinars, up 4.2% compared to 2018, despite a very competitive market and a difficult economic situation due, among others, to the implementation of import quotas in the sector.
Sales of mobile phones and smartphones and tablets increased by 7 percent to 9.4 million dinars, compared to 8.8 million at June 30, 2018, while refill card sales increased by 50% to 1.5 million dinars.
Taking into account the revenues of “CELLCOM Distribution”, the consolidated turnover of the Group amounts to 13.1 million dinars, i.e. a slight increase of 1.7%.
The gross margin of the company was 1 million dinars against 1.7 million in 2018 while the gross margin rate was 13% compared to 26% in the first half of 2018.
In addition, CELLCOM recorded an improvement in its net cash position to -2.6 million dinars, against -6 million a year earlier.
The company also notes a growth in its ancillary activities, namely the sale of refill cards and the sale of home appliances, thanks to the adjustment of its offer.
The first half of the year saw a change of management at the head of the Group and a restructuring plan aimed at reducing its expenses and optimizing its human resources, thus decreasing the number of employees from 119 to 2018 to 74 in 2019.
The payroll, however, remained stable, taking into account the compensation awarded to outgoing staff (approximately 400 thousand dinars).