Tunis Stock Exchange: Total revenues of listed companies up 11.5% in 2023

Tunis: The results for the year 2023 of the 65 listed companies that have published their financial statements so far have improved by 11.5% compared to 2022, reaching a total of TND 2,643 million, according to the report "Trends in the annual results of listed companies" published by the Tunis Stock Exchange. Of the 65 out of 77 listed companies that published their 2023 annual results, 34 reported an increase in profits. Of the Tunindex companies, 20 accounted for 83% of the total revenue in 2023, with a total of TND 2,205 million, an increase of 16.5% compared to 2022. Earnings growth by sector In the financial sector, the 12 listed banks generated total revenues of TND 1,543 million, up 8.5% on 2022. The 7 listed leasing companies saw a sharp increase in their total annual profit, up 25.6% to TND 105.2 million from TND 83.8 million the previous year. The 6 listed insurance companies saw a slight improvement of 3.4% in their total annual profit to TND 138 million compared to TND 133 million in 2022. F or all the companies in the financial sector (28 companies), their total annual result increased by 9% compared to 2022, with a total amount of TND 1,815 million compared to TND 1,664 million in 2022. On another front, it is important to note the importance of the financial sector in the activity of the Tunisian financial market (more than half of the market capitalisation). In this respect, the total result of the financial sector represents 69% of the total result of all listed companies. In the consumer goods sector, the total profit for 2023 rose sharply by 25.5%. The total annual profit of the three big agri-food groups (Poulina Group Holding, Délice Holding and SFBT) increased by 26.9% to TND 509 million, compared to TND 401 million in 2022. The total profit of the consumer services sector in 2023 was flat compared to the previous year. For the two listed supermarket chains (Monoprix and Magasin General), the overall annual result showed a deficit of TND 41 million, in line with the previous year's loss of 47.5 million. For the listed car dealers (excluding UADH, which has not yet published its annual accounts for 2023), the overall result fell slightly by 7.3% to TND 100 million, compared with TND 108 million in 2022. Overall, five of the nine sectors recorded positive performances in 2023. The best performance came from the telecommunications sector, followed by the industrial sector. In terms of sub-sectors, seven showed positive developments, with the two sub-sectors 'Construction and Construction Materials' and 'Industrial Goods and Services' showing the strongest growth. Source: Agence Tunis Afrique Presse

Net foreign exchange reserves up to 110 days of imports on June 21, 2024 (BCT)

Tunis: Net foreign exchange reserves went up to TND 23.9 billion, the equivalent of 110 days of imports, on June 21, 2024, according to the latest monetary and financial indicators released by the Central Bank of Tunisia (BCT). On the same date last year, foreign exchange reserves stood at around TND 22.6 billion (equivalent to 97 days of imports). At its meeting on June 20, the BCT's Executive Board pointed out that foreign exchange reserves have been consolidating further. BCT figures also showed that banknotes and coins in circulation had increased by almost 14% to TND 22 billion by June 20, 2024, compared with TND 19.3 billion a year earlier. Source: Agence Tunis Afrique Presse

Export earnings from Tunisian dates edge up 21.2% to TND 768.8 million (ONAGRI)

Tunis: Export earnings from Tunisian dates edged up 21.2% to TND 768.8 million over the first eight months of the crop year 2023/2024 (October 2023-May 2024) in comparison with the same period in 2022/2023, according to the monthly newsletter of the National Observatory of Agricuture (ONAGRI) released Saturday. The volume of exports, up 15.7%, reached 123,300 tonnes. The average price grew 4.7% compared to the previous crop year. Morocco is the main destination for Tunisian dates (21.4%) followed by France (8.5%) and Italy (8.4%). The exports of organic date products totalled 6,607 tonnes at a total value of TND 74.8 million. Organic dates account for 5.4% of exported Tunisian dates and 9.7% of their value. Germany is the main buyer of organic dates with 36%; the Netherlands took the second spot with 11% followed by Switzerland (7%). Source: Agence Tunis Afrique Presse

Broiler production up slightly by 1.3% end of May 2024 (ONAGRI)

Tunis: Broiler production was up slightly by 1.3% to 60.4 thousand tonnes at the end of May 2024 compared with the same period last year, according to the monthly newsletter of the National Observatory of Agricultural (ONAGRI), published on Saturday. The average producer price for broiler chickens rose by 28.7% in May 2024 compared with the same month in 2023. Compared with April 2024, the average producer price increased by 18.3%. Production of eggs for consumption reached 791.5 thousand units at the end of May 2024, up 4.1% compared with the same period the previous year. The average producer price of eggs for consumption fell by 4.6% in May 2024 compared with the same month in 2023 and by 12.3% compared with April 2024. Source: Agence Tunis Afrique Presse

Receipts from olive oil exports grow 88.8% (ONAGRI)

Tunis: Receipts from olive oil exports grew 88.8% to TND 3,963.0 million during the first seven months of the 2023/24 crop year (November 2023-May 2024) compared to the same period in 2022/23, the monthly newsletter released Saturday by the National Observatory of Agriculture (ONAGRI) shows. The volume of exports posted a 12.3% rise to 148,700 tonnes; likewise, the average price trended upwards (+68.2%). Spain is the main buyer with 47.4%, followed by Italy (42.2% ) and the USA (33.8%). Sales of organic olive oil totalled 32,589 tonnes and amounted to TND 880.9 million. The share of organic olive oil in Tunisian olive oil exports is of 21.9% in volume and 22,2% in value. Exports of packaged olive oil did not exceed 5% of exported organic olive oil. Italy is the main destination (50.69%) followed by Spain (30.65%) and France (12,27%). Source: Agence Tunis Afrique Presse