Fluorine Chemical Industries (ICF) Shine with Impressive Performance
When a stock outperforms during a period, it catches the attention of investors seeking any positive indicator to launch a rally. This is the case with Fluorine Chemical Industries (ICF).
During the General Assembly of Shareholders, the dividend for the 2024 fiscal year was set at 7,700 TND per share, with the detachment scheduled for July 9, 2025. This translates to a dividend yield of 6.7%, an excellent level for an industrial company.
The company ended the year with a profit of 21,453 MTND, compared to 7,320 MTND the previous year. The 2024 revenue reached 169,862 MTND, with a significant increase in gross margin from 77.9% to 33,964 MTND. This growth is mainly attributed to a volume effect, thanks to the increase in sold quantities compared to 2023. The production of aluminum fluoride recorded a 31.7% annual growth, with a continuous and sustained pace of factory operations. The EBIT (Earnings Before Interest and Taxes) significantly improved, rising from 1,372 MTND in 2023 to 16,831 MTND the following year.
ICF has an ambitious investment program focused on four axes: photovoltaic energy, water savings, environmental projects, and preserving production tools.
However, the global economic turmoil caused by tariffs may not spare the company. If the US administration does not reverse its decisions, it is certain that there will be a double negative effect on ICF, both in terms of volume and price. The global market was performing well, driven by demand from electric vehicle manufacturers. According to Global Growth Insights, the global market is expected to grow by 2.1% between 2025 and 2033. However, if the automotive sector is hit by tariffs, it is certain that export quantities will decrease, as will prices. These figures are worth monitoring throughout the year, even though ICF remains one of the jewels of the Tunisian industry in terms of management quality and industrial processes.
