Land'Or's 2024 Exercise: A Resounding Success
Land'Or's 2024 exercise has been a pure triumph. Its financial reports show a net profit of 10,564 MTND, compared to 5,637 MTND the previous year. The Tunis Stock Exchange-listed dairy company has achieved revenues of 189,432 MTND, a slight decrease of 1.3% year-over-year. The local market is performing well, with an improvement of 9.6% to 163,845 MTND, while export activity has declined by 39.7% to 25,586 MTND.
The cost of goods sold has significantly improved, increasing from 48,193 MTND at the end of 61,483 MTND a year later. The company has been able to reduce its purchases, which decreased from 133,980 MTND in 2023 to 124,792 MTND in 2024.
This has enabled the operating result to almost double to 19,833 MTND, covering its high financial charges, which remain at 5,377 MTND. The company has secured a medium-term loan of 7,500 MTND, which is intended to finance new investments. Land'Or Will Repay Bank Loans of 3,373 MTND in 2025**
The placement products have been weak, with only 0.048 MTND, as the treasury is consumed by the operating cycle. The Need for Working Capital stands at 51,961 MTND (44,597 MTND in 2023).
The company has made two participations, the first of 2,354 MTND in the capital of Land'Or Maroc Industries and the second of 0,289 MTND in the capital of Land'Or MEA & Beverages Trading. The market is expected to appreciate these performances this morning, with the title having gained only 3.09% since the beginning of the year. The draft resolutions have not been disclosed, and the big question remains as to the intention to distribute dividends. The last two years have not recorded any shareholder remuneration, and the company should logically do so this year.
