A financial abyss that speaks volumes about the situation of public companies. The Tunisian Steel Company, EL FOULADH, has posted a record net loss of 44.8 million dinars in 2020, according to the draft resolutions to be submitted for approval at the Ordinary General Assembly to be held on March 17, 2022.
The company had posted a net loss of TND27.1 million in 2019, following a deficit of TND32.5 million in 2018. As a result, the state-owned company brings its cumulative losses to TND371 million.
The company will hold an Extraordinary General Assembly on March 17, 2022 to decide on the continuation of the company’s activity since the amount of its equity has fallen below half of its share capital.
