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Poulina Group, a Tunisian holding company led by multimillionaire businessman Abdelwaheb Ben Ayed, has recorded a 22-percent increase in revenue beyond the TND3 billion ($1.1 billion) mark at the end of its 2021 fiscal year, which ended Dec. 31, 2021.
Poulina Group is a Tunisian conglomerate with active operations and interests in real estate, public works and infrastructure, wood and home appliances and mass consumer products.
Despite the challenges that it faced during the year due to impact of the pandemic on its operations, the group was able to generate an exceptional financial performance at the conclusion of the fiscal year.
According to the performance report, Poulina Group’s sales climbed 22 percent from TND2.74 billion ($953.1 million) in 2020 to TND3.34 billion ($1.16 billion) at the end of 2021.
The double-digit surge in revenue year-on-year was driven by a 53-percent increase in export sales from TND250.1 million ($87 million) to TND383.13 million ($133.2 million), as a robust rebound in business activity led to a spike in sales.
On the flip side, the outstanding bank debt on its records climbed by eight percent last year to TND911.6 million ($316.82 million), up from TND845.8 million ($293.8 million) the previous year.
In order to scale up operations and reposition profits and revenue for future growth, management made investments in the order of TND148 million ($51.41 million) in 2021, compared to 196.6 million ($68.3 million) in 2020.
As of press time yesterday afternoon, shares in the Tunisian conglomerate were trading at TND10.8 ($3.75), 4.17 percent lower than their starting price on the Tunis Stock Exchange that morning.
At the current price, Poulina Group’s market capitalization is TND1.94 billion ($673.85 million), while Ben Ayed’s 3.4-percent ownership in the company is valued at TND65.96 million ($22.91 million).
