COTUNACE : 2020 results

The Compagnie Tunisienne pour l'Assurance du Commerce Extérieur (COTUNACE) has published its financial statements as at 31 December 2020.

The company's turnover stands at 12.165 million TND (4.488 million USD) against 15.782 million TND (5.633 million USD) posted in 2019, a 23% decline over one year.

The incurred losses increased by 103% from 5.225 million TND (1.865 million USD) in 2019 to 10.609 million TND (3.914 million USD) in 2020.

As at 31 December 2020, the company's shareholder's equity amounted to 49.994 million TND (18.446 million USD), a 13.15% increase compared to the 44.183 million TND (15.77 million USD) recorded at the end of 2019. The share capital remains unchanged with 26.5 million TND (9.77 million USD).

The net result for the year 2020 grew by 19.35% to reach 5.969 million TND (2.202 million USD) against 5.001 million TND (1.785 million USD) in 2019.