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Tunisia: ESSOUKNA’s turnover up 6% in 2020

The company “ESSOUKNA”, a subsidiary of the “Banque Nationale Agricole” has earned a turnover of 17.2 million dinars (MD) up 6% compared to 2019.

The company explained this performance despite the COVID-19 pandemic that marked the year 2020 and the general lockdown decided in the first half of the same year, by its development strategy.

This strategy has been based on the offer of accommodations cheap directed towards the middle-income class by maintaining a competitive quality-price ratio, as well as a commercial policy very responsive to changes, Essoukna said in a statement Monday.

However, the operating result of the real estate specialist, listed since 2006, has not followed the same trend as the turnover.

Indeed, it decreased by 16%, from 3.2 MD, in 2019, to 2.8 MD, in 2020, despite the improvement of the gross margin on sales in a very competitive context, it was noted.

The net financial charges absorbed the totality of the operating profits and stood at the end of December 2020 at 3,1 MD including 1,5 MD not capitalized, it was added.

The net result therefore emerges as a deficit of 0.3 MD, against a net profit of 0.2 MD, in 2019 (which was marked by an exceptional gain of 0.6 MD).

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