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Poulina Group, a leading Tunisian conglomerate partly owned by businessman Abdelwaheb Ben Ayed, capped off a strong fiscal year in 2023 with a surge in profit.
According to the group’s recently published annual report, profits surged to TND127.36 million ($40.65 million) in 2023, from TND63.7 million ($20.3 million) a year prior. This represents a year-over-year increase of nearly 100 percent.
The profit surge aligns with the group’s solid performance across its diverse business segments. Total sales of goods and services rose to TND3.48 billion ($1.11 billion) in 2023, up from TND3.24 billion ($1.032 billion) in 2022.
Poulina Group: A leading Tunisian powerhouse
Poulina Group, a well-established conglomerate with interests in real estate, public works, infrastructure, wood, home appliances, and mass consumer products, further solidified its position as a Tunisian powerhouse.
As a leading business executive who played a pivotal role in Poulina Group, Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate, solidifying his position as one of the richest investors on the Tunis Stock Exchange.
Poulina Group: Retained earnings, equity rise modestly
Poulina Group’s financial performance also translated to a modest increase in retained earnings, rising from TND747.2 million ($238.1 million) to TND768.85 million ($242.9 million) year-over-year. Similarly, shareholder equity expanded from TND967.32 billion ($308.24 million) to TND1.05 billion ($335 million) during the period.
Fixed assets also rose, reaching TND1.66 billion ($528.9 million) as of Dec. 31, 2023, compared to TND1.58 billion ($503.4 million) at the end of 2022. Total assets grew in tandem, reaching TND4.43 billion ($1.41 billion) from TND4.27 billion ($1.36 billion).
