Arab Tunisian Lease (ATL) Reports Strong H1 2026 Growth and Improved Risk Metrics

Arab Tunisian Lease (ATL) has released its interim financial statements, confirming a trajectory of sustained growth coupled with prudent risk management. The company recorded an increase in its gross financial portfolio to 706.553 MDT.

Diversified Sectoral Portfolio

The sectoral portfolio remains well-diversified:

Commerce and Services: 337.123 MDT (47.7%)
Hotel and Tourism: 139.950 MDT (19.8%)
Industry: 93.99 MDT (13.3%)
Agriculture: 82.583 MDT (11.7%)

By asset type, rolling stock remains the predominant driver of the portfolio at 598.029 MDT, significantly ahead of specific equipment (67.511 MDT) and professional equipment (26.878 MDT).

Financial Performance

Gross Leasing Income: Rose to 52.368 MDT by the end of June 2026, up from 48.489 MDT in the same period last year.
Net Financial Charges: Remained contained at 21.583 MDT (+4.7% year-over-year), benefiting from a reduced average semi-annual cost of funds to 4.50% (compared to 4.83% in H1 2025).
Net Leasing Income: Reached 33.812 MDT, marking a 10.4% annual increase.
Operating Expenses: Increased in a controlled manner by 5.3% to 8.906 MDT.
Gross Operating Profit (Before Provisions): Grew by 12.4% to 24.905 MDT.

Risk Management and Credit Quality

ATL continues to demonstrate robust risk management:

Classified Loans (Classes B2, B3, B4): Totalled 53.639 MDT.
Non-Performing Assets (NPA) Ratio: Stood at 6.72% as of June 30, 2026, down from 6.99% at the end of 2025 and 7.93% as of June 30, 2025 (a significant decrease of 121 basis points).
NPA Coverage Ratio: Strengthened to 89.32% (up from 85.06% a year earlier), reflecting the coverage of non-performing assets by provisions and reserved interest.
Net Provisions and Customer Risk Cost: Declined by 24.2% to 2.027 MDT, compared to 2.676 MDT in H1 2025.

Bottom Line

Net Profit: Recorded a 20.4% surge, reaching 13.555 MDT for the first half of 2026.
Earnings Per Share (EPS): Increased from 0.346 TND to 0.417 TND for the semi-annual period.

ESG Integration

ATL is actively advancing its integration of ESG (Environmental, Social, and Governance) standards:

Implemented an Environmental and Social Management System (ESMS) to categorize environmental and social risks from the credit approval phase.
Established a technical partnership with Expertise France and Smart Consult to integrate climate risk into the credit risk assessment process and to lay the initial methodological foundations for developing a carbon footprint.

Market Outlook

The ATL stock has maintained exceptional performance since the beginning of the year. These strong financial results and improved risk metrics explain the market’s continued confidence in the company.