On Tuesday, May 27, 2025, Ennakl Automobiles held a financial briefing at the headquarters of the Tunis Stock Exchange (BVMT) to present its achievements and performance during 2024, provide an overview of the automotive market in Tunisia, share prospects for 2025, and unveil its 2024 ESG report. The session was led by Anouar Ben Ammar, the company’s CEO, in the presence of financial analysts and media representatives.
“The financial and institutional communication of companies is very important for Ennakl Automobiles,” emphasized Ibrahim Debache, Chairman of the Board of Directors, who also expressed pride in presenting the first ESG report for 2024 by a car dealership in Tunisia.
Ennakl Automobiles: Financially robust with strong institutional governance
Anouar Ben Ammar reiterated that Ennakl Automobiles is financially solid and offers a wide range of models across its brands that meet customer needs. The company provides high-quality after-sales service, certified original spare parts complying with manufacturers’ quality standards, and mobility services such as car rental and used vehicle sales tailored to its clients’ demands.
He added that Ennakl Automobiles benefits from strong financial health, solid institutional governance in management, and enjoys customers’ trust. The Board of Directors comprises 12 members, including two independent directors, one director representing Tunisian minority shareholders, and one independent director representing Moroccan shareholders. The executive management team consists of four members supported by two committees: the Executive Committee (Codir) and the ESG Committee.
“This structure reflects Ennakl’s commitment to maintaining transparent and diversified governance while respecting the regulatory frameworks of both countries,” Anouar Ben Ammar stated.
Key figures
Ranked third in terms of imports, Ennakl Automobiles holds a 12% market share with 6,599 vehicles sold in 2024 and an 18% share of the truck market with 97 units sold the same year.
In 2024, Ennakl Automobiles improved its consolidated net profit by 20%, reaching 48 million Tunisian dinars, alongside a turnover of 677 million dinars, which represents a decline of over 5% compared to 2023. New vehicle sales dominated, accounting for 89% of total activity.
The gross margin for 2024 stood at 100 million dinars, down from 107 million dinars in 2023. On a consolidated basis, the gross margin ratio increased from 18.2% to 19.1%.
This decline was mitigated by strong performance in the spare parts segment (Car Cargo), which achieved a gross margin of 23 million dinars in 2024, a 30% increase in net profit to 13 million dinars, and a record turnover of 102 million dinars, up 16% compared to 2023.
The revenue from the rental division, a strategic business line for Ennakl Automobiles with significant growth, rose by 27% by the end of 2024, increasing from 5.842 million dinars to 7.433 million dinars. This activity recorded the rental of 324 cars, more than 88,000 rental days, and 7,462 contracts.
“In 2024, efforts focused on cost control and improving performance in the spare parts distribution,” highlighted Anouar Ben Ammar.
Tunis Stock Exchange: Ennakl share and dividend policy remain stable
In 2024, Ennakl’s stock significantly improved in 2025, recording a 12.44% increase as of May 26, 2025, compared to a negative performance of -9.52% at the end of 2024.
Ennakl Automobiles has maintained a stable dividend distribution policy over recent years, consistently displaying a payout ratio of 60%. In this context, Anouar Ben Ammar recalled that despite the challenges posed by the Covid crisis in 2021 and a drop in earnings, Ennakl chose to maintain its dividend per share at 0.650 dinars, demonstrating its commitment to shareholders and financial resilience.
Key challenges identified
Looking ahead to the current year, Anouar Ben Ammar noted that key challenges have been identified and must be addressed through an action plan aimed at mitigating negative impacts, reducing risks, and capitalizing on opportunities.
To best meet customer expectations and continue its growth — particularly through innovation and a focus on quality — Ennakl Automobiles is building on a distinctive approach centered on launching new products, maintaining a stable and efficient network, and expanding its hybrid and electric vehicle offerings in Tunisia.
With a quota of 6,564 units (+13.1% market share) including 1,110 popular vehicles, the company’s 2025 objective is to consolidate its turnover at the same level as 2024 while maintaining net profit.
Across its various activities, Ennakl Automobiles aims to strengthen its market share in heavy trucks, establish a Renault Trucks network similar to its success in the automobile sector, consolidate the achievements of its spare parts business, maintain a profitable and growing rental activity, and create sustainable value for all stakeholders through a structured and progressive ESG strategy.
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