TAWASOL Group Holding on Tuesday, published its consolidated financial statements for the year ended December 31, 2021, which will be submitted for approval to the Annual General Meeting to be held on December 6, 2023.
At the end of 2021, the Group had significantly reduced its losses to TND 1.9 million, compared to a net loss of 7.2 million dinars in 2020.
Despite this, the group achieved a positive operating result for the first time since 2019. This stood at TND 3.8 million at the end of December 2021, compared with an operating loss of TND 1.3 million dinars a year earlier.
However, net financial expenses continue to weigh heavily on the Group’s results, although they are lower than in 2020 at TND 8.2 million.
On the other hand, the Group made ordinary profits of around TND 4.9 million, including TND 2.6 million from capital gains on the disposal of fixed assets, and investment income of TND 330,000.
Group revenues amounted to TND 79.3 million, compared to TND 68.3 million at December 31, 2008, representing a growth of 16%. Operating expenses amounted to TND 76.7 million compared to TND 70 million last year, an increase of 9.7%.
