ENNAKL Automobiles, one of Tunisia’s leading automotive distributors, reported a slight 2% increase in revenue for the first quarter of the 2026 financial year, reaching 111.1 million dinars compared to 108.8 million dinars during the same period in 2025.
However, the revenue growth was accompanied by a notable rise in the cost of purchased goods sold, which climbed to 94.5 million dinars, up from 87.8 million a year earlier.
Meanwhile, net cash at the end of the period stood at 17.4 million dinars, down from 26.2 million recorded on March 31, 2025. Financial expenses rose sharply from 0.3 million to 1.4 million dinars, a surge mainly attributed to increased use of discounting operations.
On a positive note for operational management, payroll expenses declined to 5.8 million dinars from 6.7 million the previous year, despite a larger workforce — 335 employees compared to 286 in 2025.
The sector’s current landscape has been shaped by the publication, on March 26, 2026, of Circular No. 2026-04 by the Central Bank of Tunisia (BCT). The text imposes restrictions on financing the import of so-called “non-priority” products, a category that includes passenger vehicles.
In response to a measure that could weigh on the market, ENNAKL Automobiles’ management sought to reassure stakeholders: “Based on the information available to us at this stage, there does not appear to be, for the moment, any significant, characterized, and identified impact with an immediate effect on ENNAKL’s activity.”
Despite these macroeconomic challenges, ENNAKL maintains its territorial footprint with an unchanged network of 27 official agencies across the country. The average payment period for foreign suppliers improved slightly, from 153 to 145 days.
Caution remains in order for the remainder of the year, with the evolving regulatory situation emerging as the key factor to monitor for the Tunisian automotive giant.
