Arab Tunisian Lease (ATL) Reports Positive Financial Results for 2024
The Board of Directors of Arab Tunisian Lease (ATL) has approved the individual and consolidated financial statements for the 2024 fiscal year. The social accounts show a net profit of 21,500 MTND, compared to 19,471 MTND in 2023.
This represents a gain of approximately 12,147 MTND in the second half of the year, an excellent performance. In our calculations, we took into account an adjustment of 0,835 MTND to the first-half result, following the application of the new tax rate on profits for financial institutions. This demonstrates that even with a heavy tax burden, financial institutions are capable of achieving notable financial performances, much to the delight of the State, which will see its tax revenues boosted.
The consolidated financial statements reveal a net profit of 22,100 MTND, compared to 19,900 MTND the previous year. ATL-LLD also achieved excellent profitability.
The Board of Directors will propose a dividend of 0.300 TND per share for the 2024 fiscal year at the Ordinary General Assembly, scheduled for April 23, 2025. As a reminder, the previous dividend was also 0.300 TND per share. The proposal remains subject to approval by the Central Bank of Tunisia. If approved, this payout will ensure a yield of 5.8% based on this week's closing price. In terms of return, the current valuation level is correct. The simplest benchmark is the net return on a classic bank or postal savings account, which currently yields 5.8%.
