Home » Wealthy Tunisian Ben Yedder family earns $7.19 million as Ennakl Auto shares surge

Wealthy Tunisian Ben Yedder family earns $7.19 million as Ennakl Auto shares surge

by Editorial Team

The Tunisian multimillionaire Ben Yedder family has gained TND19.99 million ($7.19 million) since Aug. 2 on the back of a sharp rise in the share price of Ennakl Automobiles.

Ennakl Automobiles is a Tunisia-based company majority-owned by the affluent Yedder family.

The company engages in the sale of cars and operates through one of its subsidiaries, Car Gros, which imports and distributes auto parts.

It sells new cars under the Volkswagen, Audi, Seat and Porsche brands and provides after-sale services.

Ennakl Automobiles revealed that its turnover increased by nearly 100 percent in the first half of the 2021 year from TND139.41 million ($50.11 million) in the first half of 2020 to TND274.19 million ($98.55 million).

The near triple-digit growth in revenue came from a surge in its sales volume, which grew to 4,516 registrations, a 103-percent increase from the 2,227 registrations it recorded in the first half of 2021.

The growth in sales led Ennakl Automobiles to regain its leading position among importers in the automotive sector, with a 15.48-percent market share.

As of press time, 9:10 AM (UTC), Aug. 18, shares in the company on Bourse de Tunis were trading at TND 12.00 ($4.314).

Compared with its opening price of TND10.75 ($3.865) per share for August, the share price has increased by TND1.25 ($0.449) since the start of the month.

This TND1.25 ($0.4494) per share increase translates to an 11.63-percent gain for shareholders in the past 16 days.

The Yedders’ stake of 15,993,246 ordinary shares has increased from TND171.93 million ($61.81 million) on Aug. 2 t0 TND191.92 million ($68.99 million) on Aug. 18.

This translates to a gain of TND19.99 million ($7.19 million) for the affluent Tunisian family in the past 16 days.

Aside from their stake in Ennakl Automobiles, the family holds a substantial interest in Amen Bank, a private sector bank headquartered in Tunis,  the capital and the largest city of Tunisia.

The Yedder family is represented by Amel Ben Yedder, Nabil Ben Yedder, Karim Ben Yedder, Wassim Ben Yedder, Hakim Ben Yedder, Halim Ben Yedder and Rasheed Ben Yedder.

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