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HomeNewsTunisia: Poulina Group sees first decrease in revenues in 11 years

Tunisia: Poulina Group sees first decrease in revenues in 11 years

Poulina said Thursday, January 21, it has achieved a turnover of 2.74 billion dinars in 2020, against revenues of 2.86 billion a year earlier, a decline of 4%.

The last decline in turnover recorded by the group dates back to 2009 year, at the end of which revenues went down 5%.

The downturn in activity was due to the effects of the COVID-19 pandemic and the general economic downturn that followed, both nationally and internationally, the company said.

 Indeed, the local turnover fell by 2% last year to 2.5 billion dinars, mainly due to the decline in tourism, which has impacted the activities of poultry farming and food processing.

As for income from export sales, they declined by 25% to 250 million dinars, compared to 332 million dinars in 2019, given lower demand and travel restrictions imposed by countries.

Following the same rate of decline as that of turnover, the group’s annual production (in value) fell by 4% to the end of last December to 2.73 billion dinars, compared to 2.86 billion at the same date one year earlier.

As for the investments made throughout 2020, they reached 196.6 million dinars, against 177.8 million in 2019, a growth of 11%.

In the fourth quarter, the main investments have focused on the renewal of equipment & construction of new breeding centers (18.3 million dinars), the extension of the ice cream plant in Kairouan and upgrading of plants and renewal of some equipment (16.1 million) and progress in the implementation of the extension of the ceramic plant in Algeria and the ceramic plant in Zaghouan (7.4 million).

In addition, the Group’s total outstanding bank debt declined by 4% to 845.8 million dinars, compared to 879.1 million at the end of December 2019.

It is made up of 431.3 million dinars of medium-term loans and 414.5 million dinars of short-term loans.

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