Tunisie Leasing & Factoring Publishes 2024 Financial Results
Tunisie Leasing & Factoring has released its financial statements for the 2024 fiscal year, showcasing a net profit of 24,818 MTND, a 2.7% year-over-year increase. The company's interest and leasing products have exceeded 100 MTND for the first time, totaling 106,213 MTND. The credit leasing sector has benefited from high rates and strong demand.
Financial Highlights
- Net profit: 24,818 MTND (+2.7% year-over-year)
- Interest and leasing products: 106,213 MTND (exceeding 100 MTND for the first time)
- Factoring revenue: 22,399 MTND (-8.9% year-over-year)
- Interest charges: 64,703 MTND (+11.6% year-over-year)
- Placement products: 8,658 MTND
- PNL: 74,913 MTND (almost balanced)
Operating Expenses and Provisions
- Operating expenses: 34,109 MTND (+7.8% year-over-year), mainly driven by personnel costs (23,150 MTND)
- Operating result before provisions: 40,803 MTND (-6.5% year-over-year)
- Risk cost: 0,926 MTND
- Reversals of provisions for various risks: 5,177 MTND
- Operating result: 40,707 MTND (+3.2% year-over-year)
Asset Quality
- Non-performing loan ratio: 8.59% (-107 basis points)
- Coverage ratio of commitments by provisions and reserved interest: 85.4%
- Factoring activity: non-performing loan ratio: 3.93%, coverage ratio of commitments by provisions: 90.94%
Dividend Proposal
Tunisie Leasing & Factoring has proposed a dividend of 1,150 TND per share to its shareholders. In our opinion, the company remains a good investment opportunity for those seeking exposure to the financial sector.
