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Tunisia: Elfouladh suffers net loss of 28 MD, debt of 195 million in 2017

For the fifth year in a row, Elfouladh, a major player in the Tunisian economy, closed the fiscal year 2017 with a heavy deficit.

The state-owned company announced a net loss of 28.2 million dinars late last year after deficits of 31 million in 2016, 31.5 million in 2015, 23.7 million in 2014 and 12.6 million in 2013.

According to the report of the auditors, the company’s debt at the end of December amounted to 195 million dinars while the equity showed a negative amount of 202 million dinars.

The report notes that the company must pay the National Social Security Fund (CNSS) 57 million dinars, STEG 62 million and tax 16.7 million.

In 2017, the company achieved a turnover of 121.7 million dinars against 133 million a year earlier, down 8.5%.

Operating expenses fell by 5.6%, from 142.7 million dinars in 2016 to 134.3 million at the end of last December.


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