Placements de Tunisie-Sicaf (PLTU) Releases Half-Year Financial Results for 2024
The Tunisian company Placements de Tunisie-Sicaf (PLTU) published its financial results for the first half of 2024 yesterday. The operating income for the period totaled 3,114 million Tunisian dinars (Mtnd), compared to 1,653 Mtnd in 2023.
The revenue from securities made a significant difference, amounting to 3,009 Mtnd. The asset manager received a dividend of 1,289 Mtnd from its participation in Mare ALB, whereas it had not received any dividend the previous year. Dividends from other held securities also improved, such as Astree (1,036 Mtnd) and Air Liquide (0,420 Mtnd).
The good market performance allowed PLTU to record no new provisions and even realized recoveries of 0,082 Mtnd on previous provisions.
The company's assets are valued at 12,268 Mtnd in financial investments and 3,717 Mtnd in placements. However, considering the unit acquisition costs, the potential for latent capital gains is substantial.
Despite adopting a purely passive strategy, PLTU is heading towards an excellent 2024 financial year. Shareholders can already prepare for a generous dividend next year.
It's worth noting that the stock is one of the least liquid on the market, with only 0,007 Mtnd in trades since the beginning of the year. It is comparable to a perpetual bond.
