Home » Tunisian tycoon Abdelwaheb Ben Ayed has now lost $1.64 million since start of 2023

Tunisian tycoon Abdelwaheb Ben Ayed has now lost $1.64 million since start of 2023

by Feyisayo Ajayi
Abdelwaheb Ben Ayed

Abdelwaheb Ben Ayed’s personal wealth in Tunisia has taken a significant hit this year due to a TND5.02 million ($1.64 million) decline in the market value of his stake in Poulina Group.

Poulina Group is a Tunisian conglomerate with active real estate, public works and infrastructure, wood, home appliances, and mass consumer products operations and interests.

Abdelwaheb Ben Ayed, a Tunisian businessman who was instrumental in the expansion of Poulina Group, owns a beneficial 3.4-percent stake in the conglomerate, making him one of the Tunis Stock Exchange’s wealthiest investors.

The group’s share price has declined 9 percent since the start of the year, dropping from TND8.78 ($2.87) on Jan. 1 to its current price of TND7.96 ($2.6) at the time of drafting this report.

This decrease in share value caused Ben Ayed’s stake in the Poulina Group to fall by TND5.02 million ($1.64 million), bringing it down to TND48.72 million ($15.92 million). Despite this drop, Ben Ayed still remains a prominent figure on the Tunis Stock Exchange.

The group recently released a robust trading update, showcasing significant revenue growth as they continue to leverage their extensive operations. This resulted in a substantial 15-percent increase in their revenue, rising from TND3.3 billion ($1.08 billion) in 2021 to a remarkable TND3.8 billion ($1.24 billion) in 2022.

This outstanding increase in sales can be attributed to the company’s exceptional ability to capitalize on new market opportunities and nurture strong relationships with existing customers. It also highlights the company’s proficiency in managing its production processes and effectively meeting the demands of its customers.

The group’s impressive revenue growth was propelled by the combined impact of a substantial 13 percent hike in local sales, reaching a staggering TND3.3 billion ($1.08 billion), and a substantial 27 percent increase in export sales, totaling TND487.6 million ($159.7 million).

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