Ennakl Automobiles owned by Tunisia’s Ben Yedder family achieves record revenue in 2022

Ennakl Automobiles, the Tunis-based automobile company majority owned by the affluent Ben Yedder family, one of Tunisia’s wealthiest families, has published its Q4 2022 fiscal year results, showcasing its remarkable resilience in the face of operational challenges.

Despite the disruption caused by the scarcity of semiconductors, a crucial component in the automobile manufacturing process, the company demonstrated a strong performance in its consolidated revenue, reporting 4.77-percent growth. Additionally, its revenue excluding taxes increased by 2.36 percent, affirming its strength in an unpredictable operating environment.

During the reviewed period, the group’s consolidated revenue exceeded TND563 million ($182.4 million), up from TND538.28 million ($174.4 million) in the previous fiscal year, while revenue excluding taxes reached TND495 million ($160 million), compared to the TND485.41 million ($157.2 million) recorded in the previous year.

These impressive results, demonstrated by the 925 registrations in December 2022, a remarkable increase from the previous year’s 366 registrations, highlight the exceptional resilience and strength of the group.

The outstanding performance has exceeded investors’ projections and expectations on the Tunis Stock Exchange, solidifying the group’s position as a leading player in the industry.

Ennakl Automobiles is a leading car dealership in Tunisia, offering a wide selection of premium vehicles from renowned brands such as Volkswagen, Audi, Seat, and Porsche. The company is expertly led by Abdellatif Hmam and is majority-owned by the affluent Ben Yedder family, who hold a controlling stake of 53.3 percent.

The Ben Yedder family, consisting of Amel, Nabil, Karim, Wassim, Hakim, Halim, and Rasheed, boasts a noteworthy presence not only in the automotive industry but also in the financial sector as substantial investors in Amen Bank – a prominent private sector bank located in the heart of Tunis.

As of the latest reports, Ennakl Automobiles’ shares are currently trading at TND11.8 ($3.82), representing a strong 87 basis point increase from the opening price this morning. The high buying interest has pushed the market capitalization of the company above TND354 million ($114.7 million).