Tunisia: overall income of listed companies amounts to 16 billion dinars in 2018

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    The year 2018 was a good year for companies listed on the Tunis Stock Exchange that saw their overall income increase by more than 12%.

    The Tunis Stock Exchange has just published its quarterly report on the evolution of revenues of listed companies in 2018 following the publication of their activity indicators for the fourth quarter of last year.

    At the date of publication of the note, four companies have not always published their indicators namely, Elctrostar, Cellcom, AeTech and MIP. The latter has not communicated its activity indicators since the last quarter of 2016.

    It thus appears that the overall income of listed companies has increased by 12.2% to 16.2 billion dinars in 2018, compared to 14.5 billion in 2017. Some 60 companies have seen their revenues appreciate compared to the previous year.

    The 20 companies that make up the Tunindex20, the most liquid companies in the stock market with the largest market capitalizations, collectively realized an income of 9.9 billion dinars, up 16% compared to the year 2017, accounting for 61% of the total income of listed companies.

    Sector evolution of revenues

    In the financial sector, the 12 listed banks achieved a cumulated net banking income (NBI) up 15.6% with 4.3 billion dinars, against 3.7 billion in 2017.

    The total net income of the 7 listed leasing companies grew by 16.7% to 448 million dinars, compared with 384 million a year earlier.

    The 4 listed insurance companies also increased their income to 753 million dinars of premiums written, against 724 million in 2017, up 4.1%.

    In the consumer goods sector, the overall income of the three groups operating in the food industry (Poulina Holding Group, Délice Holding and SFBT) rose by 14.7% from 3.6 billion dinars in 2017 to 4, 1 billion last year.

    In the same sector, the four listed car dealers achieved a total turnover in decline of 11% in the year 2018, down to 1 billion dinars from 1.17 billion in the year 2017.

    Regarding the consumer services sector, the overall turnover of the two major retailers listed on the stock market (Monoprix and Magasin Général) went up 6.4% in 2018 compared to 2017 to 1.5 billion dinars, against 1.4 billion in 2017.

    Seven of the nine sectors saw their revenues increase. The Technology sector achieved the highest growth with a rate of 53.4%, followed by the Industries sector with 20.4% and then

    the financial companies sector with 16.6%, against a decline in telecommunication revenues by (-17.7%), followed by the consumer services sector (-1.3%).

    Evolution of income by company

    The strongest revenue gains came from STIP (+ 106.6%), TELNET Holding (+ 68.6%), WIFAK Bank (+ 54.2%) and TUNINVEST SICAR (+ 52.4%).

    On the other hand, the biggest declines in revenue were recorded by ELBENE Industrie (-58.7%), SITS (54.7%), ESSOUKNA (-49.6%) and SIMPAR (-49.5%).

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