Air Liquide Tunisia Reports 8.5% Revenue Decline in H1 2026, Driven by Nitrogen Sales

Tunis, Tunisia – Air Liquide Tunisia recorded a revenue of 17.028 MTND for the first half of fiscal year 2026, representing an annual decline of 8.5%. According to activity indicators published in July, export revenues amounted to 2.644 MTND, while the local market generated 14.384 MTND. Both segments experienced downturns, with exports falling by 13.6% and local sales decreasing by 7.5%. The decline in domestic sales was primarily attributed to reduced nitrogen sales.

Gross margin stood at 2.428 MTND, down from 3.074 MTND as of June 2025.

Financial Strength Sustains Profitability

Despite the operational headwinds, the company continues to benefit from the robustness of its financial products and equity participations. These sources generated a total of 17.363 MTND, including 14.098 MTND in dividends from its subsidiary, Air Liquide Tunisia Services. However, these financial revenues also decreased compared to the first half of 2025.

The net profit for the period reached 16.897 MTND, marking a 33.0% decrease year-on-year. The company’s total balance sheet stands at 191.662 MTND, with equity (before profit allocation) amounting to 122.042 MTND. This solid financial foundation enables Air Liquide Tunisia to reinforce its market position and continue its strategic and operational investments.

Market Performance and Investor Confidence

On the stock market, the company’s shares have delivered an annual performance of nearly 59%. With a free float of only 20% and a strong institutional investor presence, the share price has shown limited sensitivity to periodic earnings results, reflecting sustained confidence among shareholders. Ultimately, this underscores the value proposition of being a subsidiary of a global industry leader.