Assad Reports Q3 2026 Financial Results: Resilient Local Performance Amidst Export Headwinds
Tunis, Tunisia – L’Accumulateur Tunisien Assad (Assad) has released its key performance indicators for the third quarter of 2026. The company demonstrated strong operational resilience and solid local market positioning, despite significant challenges in its export segment.
Revenue Performance
For the third quarter of 2026, Assad reported total revenue of 22.809 MTND, representing a year-on-year decline of 20.9%.
- Local Market: The domestic market showed relative stability, with local sales reaching 15.443 MTND.
- Exports: Export revenue dropped significantly from 13.290 MTND in Q3 2025 to 7.366 MTND in the same period of 2026.
Over the first nine months of 2026, local revenue reached 42.591 MTND, marking a slight increase of 0.6%. This trend confirms the brand’s strong foothold in the domestic market.
Conversely, cumulative export revenue for the nine-month period stood at 21.369 MTND. This cyclical downturn is primarily attributed to regulatory constraints affecting import flows through its Algerian subsidiary, BAA, during the period. These external factors are entirely independent of Assad’s intrinsic commercial performance.
In total, revenue through the end of September 2026 was 63.960 MTND, compared to 80.150 MTND in the same period last year.
Industrial Production
On the industrial front, cumulative production volume (expressed in standard battery equivalents) reached 404,740 units by the end of September 2026, down from 593,314 units in the same period of the previous fiscal year. Production volume specifically for the third quarter was 142,631 units.
Investment Strategy
Assad’s investment policy remains targeted and disciplined. The company deployed an investment envelope of 0.939 MTND since the beginning of the year. No financial investments were recorded during this period.
Profitability and Financial Health
Despite a complex international context, Assad has demonstrated excellent control over its operational profitability. The company maintained a gross margin rate exceeding 40% over the first nine months of 2026, establishing a healthy foundation for its recovery.
Key financial metrics include:
- Total Debt: Stood at 71.680 MTND, a 3.0% decrease year-on-year.
- Medium- and Long-Term Debt: Fell by 36.5% to 9.217 MTND. The company honored all its medium- and long-term debt maturities without resorting to new financing in these categories.
- Working Capital Credits: Increased by 5.2% to 62.462 MTND. Funds were mobilized in advance to build essential inventory stocks to cover demand and expected activity levels for the fourth quarter.
Outlook
Assad has proven resilient in the face of headwinds. With the recent amicable settlement with customs authorities, management can now focus on revitalizing its business activities and strengthening its financial balance.
