Poulina Group, a Tunisian holding company led by prominent businessman Abdelwaheb Ben Ayed, has reported a 25.7-percent increase in revenue at the end of its fiscal year 2021, as the Moroccan economy continues to grow in 2022.
Poulina Group is a Tunisian conglomerate with active real estate, public works and infrastructure, wood, home appliances, and mass consumer product operations and interests.
Ayed, a Tunisian businessman who was instrumental in Poulina Group’s expansion, owns a beneficial 3.4-percent stake in the conglomerate.
According to data obtained by Billionaires.Africa, the group’s revenue increased by 25.7 percent in the period under review, from TND2.2 billion ($723.9 million) in 2020 to TND2.88 billion ($947.7 million) in 2021.
The increase in revenue was driven by strong growth in both domestic and export sales, as well as an impressive performance across all of its business lines, with the exception of retail, which declined by a single digit due to a decrease in its home market, Tunisia.
The group’s chairman, Khaled Bouricha, thought the results were positive, emphasizing that the company “is making steady progress toward the achievement of its plans and aspirations.”
The TND2.88 billion ($947.7 million) in revenue recorded during the period was split 87 percent from the domestic market and 13 percent from exports.
Bouricha explained that export revenues increased significantly during the year, from TND250 million ($82.3 million) in 2020 to TND383 million ($126.1 million) in 2021, indicating a growth rate of more than 53 percent.
The group invested a total of TND148 million ($48.2 million) in its operations in order to place its revenue and earnings on a growth path, with plans to inject a total of TND273 million ($88.9 million) in 2022.
Shares in the Tunisian conglomerate were trading at TND9.9 ($3.26) as of press time on June 11, one-percent lower than their opening price on the Tunis Stock Exchange on Friday.
Poulina Group’s market capitalization is TND1.8 billion ($592.4 million) at the present price, while Ben Ayed’s 3.4-percent ownership in the company is valued at TND61.2 million ($20.1 million).
