Tunisia: City Cars increases its 2019 turnover by 40% to 204 million dinars

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    The City Cars Company increased its revenues by 46.1% to 61.4 million dinars in the 4th quarter of 2019, against 42 million dinars during the same period in 2018. The commercial margin went up by 46.7% to 9.5 million dinars.

    Over the whole year 2019, the turnover climbed up 40.3% to 203.9 million dinars against 145.3 million in 2018.

    The commercial margin of the Tunisian dealer of the KIA brand therefore rose from 20.8 million dinars in 2018 to 26.9 million dinars in 2019, i.e. up 29.3%.

    That performance is attributed mainly to a volume effect, resulting from gains in terms of market shares.

    Investment income totaled 3.4 million dinars over the past year as against 3.6 million dinars in 2018.

    The wage bill for the year recorded a slight increase of 1.6% to 2.6 million dinars against 2.5 million in 2018.

    Although the car dealer’s network increased from 16 to 17 sales points, the company’s workforce went down from 68 at the end of 2018 to 67 at the end of 2019.

    At the end of December 2019, the net cash position stood at 45.1 million dinars, compared to 32.6 million dinars a year earlier, up 38%.

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