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HomeNewsTunisia: Ennakl Automobiles sees its revenues fall 13.3% in H1

Tunisia: Ennakl Automobiles sees its revenues fall 13.3% in H1

ENNAKL Automobiles, a Volkswagen, Audi, Porsche, Seat and Skoda dealer in Tunisia, has announced a turnover of 160.5 million dinars at the end of June 2018, down 13.31% from the same period a year ago.

According to the company’s management, this decrease is mainly due to the impact of the increase in duties and taxes in 2018, in addition to the depreciation of the dinar against the Euro on the sale prices of cars, as well as the delay in imports recorded at the beginning of 2018.

The car market in Tunisia has recorded a decrease of 17.5% during this first half reaching a registration volume of 27,352 units against 33,157 units in the same period of 2017.

The net cash position of the company amounted to 4.7 million dinars on 30/06/2018 compared to 61.9 million as at 30/06/2017, which corresponds to a decrease of 92.35% mainly justified by the investments in progress by the company and the decrease in the volume of activity.

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