PGH Group Announces 2023 Financial Results and Investment Plans, Reaffirms Commitment to ESG
The PGH Group held a financial communication today, announcing its 2023 performance and investment plans for the coming years. During the meeting, the group also reaffirmed its commitment to environmental, social, and governance (ESG) issues.
Financial Performance
PGH reported a 9.9% growth in revenue in 2023, reaching 3,478 million Tunisian dinars (Mtnd), up from 3,164 Mtnd in 2022. This growth was accompanied by a significant increase in gross margin, which rose by 19.4% to 1,176.7 Mtnd, up from 985.1 Mtnd in 2022. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 22.3% to 548.9 Mtnd, while EBIT (Earnings Before Interest and Taxes) climbed by 30.2% to 345.2 Mtnd. Net income saw an even more spectacular increase of 97.1%, reaching 129.7 Mtnd.
Investment Plans
For the 2024-2026 period, the group plans to invest an average of 314 Mtnd per year, a 60% increase over the annual average of 183 Mtnd between 2014 and 2023. These investments will primarily target the construction materials, agri-food, poultry, and packaging sectors, as well as the development of photovoltaic power plants. This strategic diversification aims to support sustainable growth and meet the growing needs of local and international markets.
Strong Commitment to Sustainable Development
In 2023, the group achieved energy savings equivalent to 20,200 TEP (Tonnes of Oil Equivalent) and avoided 51,400 tonnes of CO2 emissions. By 2030, PGH aims to increase these figures to 50,000 TEP and 127,000 tonnes of CO2, respectively, through investments in cogeneration and photovoltaics. The group is also committed to preserving natural resources, as evidenced by its 65.7% water reuse rate in 2023, exceeding the national target of 50%.
Human Capital at the Heart of the Strategy
Human capital is a priority for PGH. The group employs 13,000 people and plans to recruit 1,000 new employees annually. A uniform salary grid ensures equal pay for men and women. PGH is also committed to promoting diversity and equal opportunities within its workforce.
Enhanced Governance
Since December 2017, the group has separated the roles of CEO and Chairman of the Board. Women's participation in board committees ranges from 25% to 10%. PGH also emphasizes dialogue and transparency, engaging in regular discussions with employees, financial partners, and suppliers. The group supports the startup ecosystem through the DATAXION program.