The UADH group’s revenues amounted to 50.1 million dinars in the first quarter of 2020, compared to 63.5 million during the same period of the previous year, i.e. down 21%.
The decrease in revenues between the two periods is inevitably due to the significant drop in revenues in March 2020 following the general lockdown ordered to limit the spread of the COVID-19 pandemic, it said.
As a result, there was a temporary halt in the activities of UADH’s subsidiaries as of March 15 with a notable and accelerated slowdown since mid-February pending the gradual resumption as of May 4 as announced by the Tunisian government regarding the partial de-confinement plan.
Vehicle market statistics in terms of registrations have not been published by the Land Transport Technical Agency (ATTT) as of today.
Moreover, the investment income of the first quarter of 2020 has increased by 13.9% compared to the similar period last year to 2.3 million dinars.
The net financial charges at the end of March 2020 decreased by 16.5% compared to March 31, 2019 to 4.8 million dinars, due to a slight improvement in the exchange rate of the Euro against the dinar during the settlements of foreign suppliers, particularly during the month of February 2020.
