2023 Financial Results: Tunisian Listed Companies Show 11.5% Growth
65 Companies Publish Financial Statements, with 34 Reporting Improved Results
According to the Tunis Stock Exchange (BVMT) report, the 2023 financial results of the 65 listed companies that have published their financial statements to date show a significant improvement of 11.5% compared to 2022, with a total result of 2643 million Tunisian dinars (Mtnd) against 2369 Mtnd in 2022.
The 12 listed companies that have not yet published their annual financial statements for 2023 are Aetch, Alkimia, Assad, Electrostar, Gif-Filter, Mip, Somocer, Sotemail, Stip, Tunisair, TGH, and Uadh.
Among the 65 companies that have published their financial statements, more than half (34) have reported improved results. The companies that make up the Tunindex20 have captured 83% of the total result for 2023, with an amount of 2205 Mtnd, representing a 16.5% increase compared to 2022.
Dividend Distribution Improves for Second Consecutive Year
The dividend distribution policy of listed companies has shown significant improvement for the second consecutive year. As a result, 47 listed companies have distributed dividends in 2024 for the 2023 financial year, with a total amount of 1377 Mtnd, compared to 1249 Mtnd the previous year.
Sectoral Evolution of Results
The financial sector has seen a 9% increase in its global annual result compared to 2022, with a total amount of 1815 Mtnd.
- The 12 listed banks have achieved a global result of 1543 Mtnd, representing an 8.5% increase compared to 2022.
- The 7 listed leasing companies have seen a strong 25.6% increase in their global annual result, reaching 105.2 Mtnd.
- The 6 listed insurance companies have reported a 3.4% improvement in their global annual result, reaching 138 Mtnd.
It is worth noting that the financial sector's global result represents 69% of the total result of all listed companies, according to the BVMT report.
The global result of the Consumer Goods sector has increased by 25.5% in 2023. The annual global result of the three major agri-food groups (Poulina Group Holding, Délice Holding, and Sfbt) has increased by 26.9% to reach 509 Mtnd, compared to 401 Mtnd in 2022.
The global result of the Consumer Services sector has stagnated compared to the previous year. The two listed retailers (Monoprix and Magasin Général) have reported a deficit of 41 Mtnd, similar to the previous year's loss of 47.5 Mtnd.
The global result of the automotive dealers (excluding Uadh, which has not yet published its financial statements) has slightly decreased by 7.3% to reach 100 Mtnd, compared to 108 Mtnd in 2022.
Overall, five out of nine sectors have reported positive performances in 2023. The telecommunications sector has achieved the best performance, followed by the industrial sector. Seven sub-sectors have reported positive evolutions, with the "Building and Construction Materials" and "Industrial Goods and Services" sub-sectors achieving the strongest growth.