Land'Or Experiences Significant Growth in 2023

The 2023 financial exercise for Land'Or has yielded highly positive results. The company's social accounts show a net profit of 5,637 Mtnd. The Tunis Stock Exchange-listed dairy company has achieved revenues of 191,913 Mtnd, representing an 18.9% increase year-over-year.

Revenue Growth Driven by Local and Export Markets

The growth is attributed to both the local market, which saw a 17.7% increase to 149,492 Mtnd, and export activities, which rose by 23.1% to 42,421 Mtnd. The cost of goods sold margin has significantly improved, increasing from 40,669 Mtnd in 2022 to 48,193 Mtnd in 2023.

Operating Expenses Under Control

Meanwhile, operating expenses have evolved at a slower pace, increasing by 13.2% to 182,248 Mtnd. The operating result has been established at 11,232 Mtnd in 2023, compared to 2,290 Mtnd in 2022, representing an EBIT margin of 5.86% compared to 1.40% the previous year.

Financial Performance and Investments

Despite net financial expenses of 5,740 Mtnd, including 0.706 Mtnd in net foreign exchange losses, investment products of 1,021 Mtnd have compensated for 43.5% of the additional financial expenses, allowing the net result to enter positive territory. Land'Or has secured agreements with the Banque de Tunisie and UBCI for credits of 2,300 Mtnd and 6,500 Mtnd, respectively, which will be dedicated to new investments.

Market Reaction and Share Price

Yesterday, the market welcomed the news, and the share price appreciated by 5.97%, closing the session with the best performance of the day. At the time of writing, the title is trading at 7,700 Tnd, representing a new appreciation of 3.21% and an annual yield of 28.33%. Shareholders could not have hoped for better.