revenue down 17% in the 3rd quarter

Tawasol Groupe Holding

Tawasol Groupe Holding published Thursday its activity indicators for the 3rd quarter of 2020. Indeed, the group has started to resume its outstanding turnover during the third quarter.

Thus, most of the activities restarted in July. And this, with the total lifting of the health protocol imposed in March. So the consolidated revenues of Tawasol Groupe Holding for the 3rd quarter of 2020 are around 15.6MD. Against 18.7MD made during the same period in 2019; registering a decrease of 17%.

Tawasol Groupe Holding Tawasol Groupe Holding
Tawasol Groupe Holding activity indicators relating to the 3rd quarter

First of all, the telecommunications network pole experienced a recovery in its level of post-containment activity. It is well positioned on the african market. The activity grew by 16% compared to the same period of 2019. It should be noted that the group separated, on one of its subsidiaries in Tunisia, the MIR Company, from the joint shareholder Marais Groupe. By selling its stake for an exchange of shares in the company Marais Tunisie, now 100% owned by the Tawasol group.

Knowing that the MIR company generated for the 3rd quarter of 2019 an income of 216 thousand DT. And cumulatively as of September 31, 2019, an income of 1,130 thousand dinars. Thus, the revenue growth rates of the telecommunications network division, restated for the effect of this deconsolidation which took place in 2020, are 24% (instead of 16%) and -2% (instead of -10%) respectively. for the 3rd quarter of 2020 and cumulative as of September 30, 2020.

Decrease in debt

For its part, the Infrastructure Network pole maintains a diversified portfolio of activities made up of major projects. However, restrictions on the mobility of people and containment measures such as site closures have greatly reduced production. Revenues generated by the division for the 3rd quarter of 2020 amounted to 5.7 MD. Against 6.9 MD in the same period of 2019; thus registering a decrease of 17%.

As for the industry and aluminum profile sector, it suffered a longer slowdown. Which corresponds to the “pause” demanded by the government on credits, supply and the effective resumption of real estate development and construction sites.

For its part, the real estate chain has remained inactive for a long time due to the economic situation. Note that during the third quarter investors quickly became interested in reinvesting in the real estate market.

In this regard, the outstanding amount of land in stock as of September 30, 2020 is 26.5 MD. The outstanding amount of housing built in stock is 20.1 MD.

In addition, the total consolidated indebtedness of the group has experienced a significant drop from 92.8MD on December 31, 2019 to 84.8MD on September 30, 2020.

The medium and long term debt amounts to September 30, 2020 to 12.9 MD; against 14.7 MD recorded on 12/31/2019. Approximately 3.6 MD is made up of real estate prefinancing loans.

Short-term debt net of bank investments stood at September 30, 2020 at 71.9 MD. And this, against 78.1 MD at December 31, 2019. It is made up of 11.6 MD by real estate prefinancing loans.

M.T

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