ARTES Sees Significant Growth in Q1 2025

After an excellent year in 2024, ARTES is being closely watched by the market. At the end of the first quarter of 2025, the concessionaire achieved revenues of 76,806 MTND, compared to 29,669 MTND during the same period in 2023. Vehicle registrations saw an increase of 938 units, rising from 499 units registered in Q1 2024 to 1,437 units for the same period in 2025. One of the reasons for this improvement is the availability of the 4 CV product. We can see the impact of this product mix on the gross margin, which stood at 19.3% compared to 23.3% the previous year. It is expected to improve by the end of the year with more vehicles sold that do not benefit from tax incentives.

The number of sales outlets remained stable at 28, employing an average of 147 people. Financial products saw a significant increase to 2,210 MTND. We do not yet have an idea of the performance of subsidiaries and the dividend they will pay to the parent company this year, but we remain confident about the financial products for the entire 2025 exercise. The treasury is more than comfortable currently, thanks to the sustained pace of sales.

The stock shows an annual return of 28.9%, thanks to a announced dividend of 0.800 TND. Despite this increase, the title still offers a net dividend yield of 6.8%. This is equivalent to the return on a bank investment at 8.5% gross, or 200 basis points more than the Savings Remuneration Rate. This is one of the best offers currently on the market, especially considering the company's growth prospects.