statements for the year 2019 at the end of which the company has suffered a net loss of 14.5 million dinars after a deficit of 14.2 million in 2018.
The state-owned company thus brings its cumulative losses to 50 million dinars.
In 2019, the manufacturer of pharmaceutical products for human use has achieved a turnover of about 24.5 million dinars, against 33.1 million a year earlier, down 26%.
This turnover comes mainly from sales to the public for 10 million dinars and sales to hospitals for 11.6 million dinars.
On the other hand, operating expenses fell by 12% to 38.1 million dinars, compared to 43.3 million in 2018, including 18.3 million dinars of personnel expenses and 14.2 million of purchases of supplies consumed.
As a result, the operating result comes out as a deficit of 13.6 million dinars, against a negative result of 10.1 million at the end of December 2018.
Current liabilities exceeded current assets by 17.4 million dinars excluding net cash, as of December 31, 2019. In addition, equity has a negative balance that amounts to 21.4 million dinars and net cash has a negative balance of 5.9 million dinars.
All these factors together reflect a serious crisis of liquidity and solvency, denouncing potential difficulties that could threaten the continuity of operation of SIPHAT, reads the report of the auditors.
