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HomeNewsTunisia: AeTECH announces a new loss in 2019

Tunisia: AeTECH announces a new loss in 2019

AeTECH (Advanced e-Technologies) has just published its financial statements for the year ending December 31, 2019.

These statements show a net loss of 226 thousand dinars, against a net loss of 2.3 million in 2018.

The supplier and installer of software has achieved last year a turnover of about 7.1 million dinars, against 10 million in 2018, a drop of 28%.

In the same vein, operating expenses fell by 39% to 7.1 million dinars, compared to 11.7 million a year earlier.

As a result, the operating result shows a surplus of 37,770 dinars, against a negative result of 1.7 million in 2018.

Nevertheless, despite their decrease by 52% to 315 thousand dinars, financial charges have pushed the net result into the red.

Moreover, following cumulative losses of about 10.4 million dinars, the financial statements show equity capital below half of the share capital.

The board of directors must convene an Extraordinary General Meeting to decide on the continuity of the company’s operations.

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