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Tunisia: Poulina Group announces net profit of 75 million dinars, down 42% in 2020

The company Poulina Group Holding has just published its individual and consolidated financial statements closed on December 31, 2020.

It emerges that the Poulina Group has generated last year a consolidated net profit of 75 million dinars, against 130 million in 2019, down 42%.

This decline is mainly due to the growth of net financial expenses by nearly 57 million dinars (+50%) from 112.5 million dinars in 2019 to 169.4 million at the end of last December.

In detail, interest expenses reached 185 million dinars last year, up 15 million compared to 2019.

On the other hand, the Group achieved net financial income of 22 million dinars, compared to 8.8 million a year earlier.

Foreign exchange losses amounted to 29.6 million dinars, while foreign exchange gains were nearly 16 million, compared to 19 million in 2019.

The Group stabilized its revenues in 2019 at 2.3 billion dinars. Similarly, operating expenses have stagnated at 2 billion dinars.

To this end, the Group’s operating income has virtually stagnated last year at 238.6 million dinars, against 239.5 million in 2019.

With regard to the individual financial statements, PGH posted a net profit of 120.4 million dinars, compared to 101 million in 2019, an increase of 20%.

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