Hannibal Lease Reports 2024 Financial Results
Hannibal Lease has informed its shareholders that its Board of Directors has approved the individual and consolidated financial statements for the 2024 fiscal year. The social accounts show a net result of 10,222 MTND.
Key Performance Indicators
- The overall activity indicators for the entire fiscal year were good, with an 8.6% increase in lease deployments, reaching 370,396 MTND.
- Net leasing product grew by 5.0%, reaching 38,342 MTND.
- Borrowing resources increased significantly by 14.4%, reaching 502,556 MTND.
Asset Quality Improvement
Hannibal Lease's asset quality improved in 2024, with a 26-basis-point decrease in the rate of classified claims to 8.32%. In terms of value, classified claims increased by 8.7%, reaching 57,676 MTND, indicating a controlled risk cost.
Comparison with First Half Performance
Compared to the first half of the year, which saw a 37.5% improvement in net result to 6,273 MTND, the second half of the year showed a contrasting trend, with the annual profit remaining stable. We believe that the revision of the corporate tax rate would have been a key factor in this dynamic, but not the only one. The first half of the year recorded a negative risk cost, which boosted the figures. By the end of the year, this situation would have been normalized.
Individual Accounts and Dividend Proposal
The individual accounts show a profit of 12,638 MTND. In light of these performances, the Board of Directors has proposed to shareholders, convened to an Ordinary General Assembly on April 30, 2025, the distribution of a dividend of 0.450 TND per share. Based on yesterday's closing price, the net yield is 5.74%, which is within the average of the financial sector and at the high end of the yield offered by the Tunisian stock market.
