**Tunisian Company L'Accumulateur Assad Reports Financial Results and Plans Capital Increase
In a statement, L'Accumulateur Tunisien Assad informed its shareholders that it has finalized the group's individual and consolidated financial statements.
Financial Results
Analysis of the social accounts reveals that the company recorded a net result of -2,514 MTND, compared to -9,282 MTND the previous year. As a reminder, the first half of the year was marked by a loss of 3,279 MTND. Meanwhile, the consolidated financial statements show a profitable result of 3,962 MTND, a significant improvement compared to the -9,624 MTND recorded in 2023.
Upcoming General Assembly
The board of directors has decided to convene the Ordinary General Assembly on Thursday, July 10, 2025. Shareholders should appreciate the improvement in operational performance, even if the company is still not in balance. The company will need to recover nearly 17 MTND of negative carryovers, which will require more years of effort.
Agenda Items
Among the topics to be discussed, one will be the mission to find an institutional partner to increase the capital of Batterie Assad Algérie subsidiary by at least 1 billion dinars. The fundraising operation is scheduled to be completed by the end of June 2025. This operation is crucial not only for the Algerian entity but also for the Tunisian one. As of the end of 2023, the parent company holds claims on Batteries Assad Algérie worth 28,874 MTND. The collection of these claims, which have accumulated over the years, has been delayed by the difficulties encountered by the Algerian company, particularly during the Covid-19 crisis, as well as the need for investments. Injecting fresh funds into this subsidiary will enable Assad Tunisie to recover cash.
Note: MTND stands for Tunisian Dinars.
