Poulina Group, owned by Abdelwaheb Ben Ayed, reports six-percent decline in H1 2024 sales

Oluwatosin Racheal Alabi -

Key Points

  • Poulina Group’s sales dropped by six percent in H1 2024, totaling 1.9 billion dinars ($1.45 million), compared to June 2023.
  • Revenue decline resulted from a 24-percent fall in export sales and a four-percent fall in local sales.
  • Despite the revenue drop, Poulina Group increased investments by 51 percent, totaling 84 million dinars ($64,092) in H1 2024.

Poulina Group, a leading Tunisian conglomerate partly owned by businessman Abdelwaheb Ben Ayed, capped off the first half of 2024 with a six-percent decline in sales.

Poulina Group’s sales at the end of the first half of 2024 totaled 1.9 billion dinars ($1.45 million), down six percent compared with the end of June 2023. This drop in revenue, the company explains, is due to a 24 percent fall in export sales and a four-percent fall in local sales

Decline in sales and production

Poulina Group attributes the revenue decline primarily to a decrease in export sales, which plummeted by 24 percent, and a four-percent drop in local sales. The combined effect of these factors resulted in a total production decrease of six percent, amounting to 1.88 billion dinars ($1.44 million) for the quarter.

Investment surge amid revenue decline

Despite the drop in sales and production, Poulina Group increased its investments significantly. During the first half of 2024, the company invested 84 million dinars ($64,092), marking a substantial 51 percent increase compared to the 55.5 million dinars ($42,346) invested during the same period in 2023.

This move indicates the conglomerate’s commitment to long-term growth and resilience in the face of challenging market conditions.

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.