SIPHAT’s sales in the second quarter of 2023 were 5% lower than in the second quarter of 2022, while sales in the first half of 2023 were 11% higher than in the first half of 2022.
Production for the same period increased by 47% year-on-year and by 26% quarter-on-quarter.
Debt, which exceeded 99 million dinars in the second quarter of 2023, increased by 19% year on year. This debt has been building up for years due to low sales, which are used to cover net salaries and some operational suppliers.
This level of debt is mainly due to a current account opened in the name of the Central Pharmacy following the capital reduction operation carried out in 2001, amounting to 6 million dinars, with interest on arrears of TND 3.7 million, an inventory financing loan of TND 4 million granted since 2009 (reduced from TND 6 million to TND 4 million in 2020), renewable each year, a debt to the social security institutions (CNRPS and CNAM) of TND 25.2 million and a debt to the tax authorities of TND 6.1 million.
In addition, there is a treasury loan with interest of TND 5.4 million, an AFESD loan of TND 4.6 million, medium-term loans of TND 7.1 million and short-term liabilities between supplier loans and bank overdrafts of approximately TND 37.2 million.
