SANIMED has published its interim financial statements for the six months to June 30, 2023.
These statements show a net loss of TND 5.9 million, compared with a TND net loss of 2.1 million in the first half of last year.
This underperformance was mainly due to a 40% fall in revenues, from TND 34.6 million at the end of June 2022 to TND 21 million at June 30 this year. The decline concerned both the local market (-27%) and the export market (-47%).
Operating expenses fell by 29% to TND 24.1 million, compared with TND 33.7 million a year earlier.
As a result, the operating result for the period fell into the red at TND -2.5 million, compared with an operating surplus of TND 1 million at the end of the first six months of 2022.
The company points out that SANIMED’s land holdings have been revalued by experts on the basis of the indices set by Presidential Decree no. 2022-297 of March 28, 2022.
The revaluation resulted in a revaluation difference of TND 16.2 million, including TND 2.7 million from the legal revaluation.
In addition, as part of the company’s economic and financial recovery plan, management called on the services of a chartered accountant to assist in drawing up a business plan and future prospects, adopting three scenarios for raising 5, 10 and TND 15 million.
According to the projected income statement, the company will start making profits from 2024.
