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Tunisia: TELNET Group announces net profit of over 7 million dinars in 2020

TELNET Group has just announced a consolidated net profit (group share) of around 7.1 million dinars in fiscal year 2020, up 63% compared to the previous year.

The group achieved a turnover of 40.6 million dinars in 2020, against 43.8 million in 2019, posting a decline of 7%, including 39 million dinars from export sales (-1%).

As for operating expenses, they fell from 36.7 million dinars to 33.4 million, down 9%.

These expenses are mainly composed of personnel costs (20.9 million dinars) and purchases of supplies consumed (5.7 million dinars).

As a result, the operating result is almost stagnant at 7.2 million dinars, compared to 7.1 million a year earlier.

In addition, net financial expenses show a negative balance of -1.2 million dinars due to the realization of 1.3 million dinars of foreign exchange gains which allowed the group to generate a result of ordinary activities before taxes up 56% to 8.2 million dinars.

Financial statements

At the level of individual financial statements, TELNET Holding posted a net profit of 4.2 million dinars, compared to 8 million dinars in 2019, a decline of 47%.

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