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Monday 21 September 2020
Home News Tunisia: OfficePlast sees 15% drop in turnover in H1 2020

Tunisia: OfficePlast sees 15% drop in turnover in H1 2020

OfficePlast’s revenues declined by 15% in the first half of 2020 compared with the first half of 2019, according to its quarterly activity indicators published on the CMF website.

Its revenues were down 6.1% in the second quarter of 2020 compared to the same period in 2019. This decline was due to a decrease in local sales by more than 46%.

On the other hand, the company managed to honor its commitments to its foreign customers, recording a 2.3% improvement in export sales compared with the same period in 2019.

At the end of the second quarter of 2020, Office Plast’s production value was 21.5% lower than in the second quarter of 2019, due to general lockdown and the global and national circumstances caused by the spread of COVID-19.

As a result, a decrease in production was recorded in the first half of the year by 17.4% compared to the first half of 2019.

The value of investments in the second half of 2020 amounts to 298,545 TND financed by the company’s own funds.

The company’s indebtedness amounted to 14,103,601 TND at June 30, 2020 due to short-term credits dedicated to financing operations.

Debt for the first half of the year increased by 28.4% compared to the same period in 2019 due to unpaid invoices from customers severely affected by COVID-19.

At June 30, 2020, Office Plast’s cash position was positive at 1,899,516 TND. 

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