Tunisia Telecom suffered a net loss (provisional data) of 40.8 million dinars at the end of 2019, compared to a profit of 9.1 million dinars in 2018.
The state-owned company achieved a turnover of around 1,123 million dinars in 2019, compared to 1,146 million dinars in 2018, recording a limited decline of 0.02%, which comes mainly from the fixed-line business.
The company’s workforce reached 6,205 in 2019, a decrease of 58 employees compared to 2018 due to the non-substitution of retirees.
Personnel expenses in 2019 posted a decrease of 8.7% compared to 2018 to 296 million dinars, as against 324.1 million dinars in 2018 and 265.8 million dinars in 2017.
The company’s personnel expenses went down 8.7% in 2019, compared to 2018 to 296 million dinars, compared to 324.1 million dinars in 2018 and 265.8 million dinars in 2017.
The operating result stood at 13.2 million dinars in 2019, showing a 22.2% decrease compared to 2018 due to the 8.3% regression in revenues.
Total operating expenses decreased slightly by 0.5% during the same period, reaching 1,201 million dinars in 2019.
It follows that the net result of the year 2019 swings to the negative reaching 40.8 million dinars due in particular to the decline recorded in the operating income during the same period and the increase in its financial expenses which amounted to 46 million dinars in 2019, against 0.5 million dinars in 2018 and 16.4 million dinars in 2017.
The operator’s total equity reached 1,335 million dinars in 2019 against 1,380 million dinars in 2018, down 45 million dinars mainly due to the accumulation of losses at the end of 2019 for a total amount of 283.5 million dinars including the result of 2019.
The investments made in 2019 by Tunisie Telecom amounted to 231.2 million dinars.
In addition, the debt of the Tunisie Telecom reached 1,624 million dinars at the end of 2019, posting a decrease of 11.9% compared to 2018.
Indeed, the debt to the state dropped by 71.7% and the debt to banks went down by 13.7% to reach 1,064 million dinars in 2019.
On the other hand, the indebtedness of Tunisie Telecom to social funds increased by 8.6 million dinars.
The debt to public enterprises (and in particular the Tunisian electricity and gas company and the national frequency agency) reached 80.2 million dinars in 2019 against 59.6 million in 2018.
