reports
- Ghada JENDOUBI
KIA consolidates its position as a leader
During Q4 2016, CITY CARS’ revenues reached TND40.254m vs. TND42,791m on 31/12/2015, i.e. a 5.9¨% yoy decline. The dealer’s gross margin collapsed by 25.7% to TND4.972m, bringing down the gross margin rate to 12.3% against 15.6% a year earlier. CITY CARS ended the year with a 10.5% yoy increase in revenues which amounted to TND157.82m. The gross margin was up by 6.2% to TND21.69m vs.TND20.43m on 31/12/2015. However, the gross margin rate lost 56 basis points to establish at 13.7% vs.
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- Ghada JENDOUBI
Significant progression in both revenues and gross margin
At the end of September 2016, City cars’ revenues reached TND46.5m, posting an important increase of 37.6%, yoy. The gross profit gained 40.7% to TND6.4m. Thus, the gross margin rate increased by 30 basis points to 13.8%. The company ended the nine first months of 2016 with a 17.4% revenue growth to TND117.6m. The gross margin increased by 21.6% to TND16.7m vs. TND13.7m a year earlier. Hence, the gross margin rate rose by 49 basis points to reach 14.21%.
Intriguing revenues' growth
At the end of March 2016, CITY CARS announced revenues of TND35.1m, posting a slight 6.5% increase. Nevertheless, the dealer’s gross profit gained 14.16% to stand at TND5.3m. Hence, the gross margin added 100 basis points to 15.1%. Over the same period, staff expenses amounted to TND0.48m, i.e. a 4.3% increase. The dealer’s net cash position accused a sharp decline of 39.5% to establish at TND32.5m due to the engaged expenses for the construction of City Cars’ new headquarter, which will ...
The dealer reinforces its positioning
City Cars Q4 2015 revenues amounted to TND42.8M, i.e. a substantial increase of 67.8 % bringing the dealer’s FY2015 revenues to TND142.9 M, i.e. a remarkable 22,3 % progress. This performance exceeded our expectations. Nevertheless, the dealer’s gross margin lost 100 basis points to 14.3% due to the weakening dinar behind dollar. The Dealer’s cash declined by 32.1% to TND24.7M due to the expenses of the new headquarter. Placements increased by 14.1% to TND3.4M in 2015. At the end of 201...
The weakening dinar weighs heavily on the dealer’s performance
During Q2 2015, City Cars revenues amounted to TND33.3M against TND29.3M over the same period in 2014, i.e. a 13.7% y-o-y increase limiting revenues’ decrease to only 1.5% to TN66,27M. Thus, the dealer outperformed the dealership sector in Tunisia which reported an 8.4% decline in the number of sold vehicles during the first half of 2015 to only 24,921 units. For the first time, the brand KIA ranked first on the segment of passenger cars during the first half of 2015.
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