Telnet Holding: A Unique Case in Tunisian Finance
Since its listing, Telnet Holding has experienced a rollercoaster of events, with its fortunes fluctuating wildly. The company faced a significant setback due to its ties with Syphax Airlines, only to bounce back by selling an activity to Altran. Then, there was the satellite saga and the remarkable success of the Challenge One launch. However, the indictment of its strongman, Mohamed Frikha, weighed heavily on investor sentiment.
Frikha, undoubtedly one of the best specialists in his field, is the brain behind the company, capable of unlocking doors and securing markets. For many, his arrest was synonymous with a drastic decline in revenue.
A Stellar 2024 for Telnet Holding
Despite the challenges, Telnet Holding has just concluded an excellent year in 2024. The group reported a net profit of 9,540 MTND, with an EBITDA of 13,799 MTND. The company has proven that it is more than just its founder, and this is the greatest achievement for investors who believed in it.
Upcoming General Assembly and Dividend Distribution
Telnet Holding's shareholders have been convened to an ordinary general assembly on July 15th. The board of directors has proposed a dividend distribution of 0.250 TND per share, equivalent to a net yield of 3.1% based on yesterday's closing price. While this may seem modest compared to what financial institutions offer, it is a commendable achievement considering the company's history.
Market Performance
The stock has surged 18.83% since the beginning of the year, reflecting the conviction that Telnet Holding can continue to thrive despite the ongoing legal proceedings. This allows the company to avoid market volatility and stabilize its share price.
