The Tunisian Sugar Company (STS) has just published its financial statements approved at December 31, 2019, as they will be submitted for approval at the ordinary general assembly to be held on June 20, 2023.
These statements highlight a deficit result of 4 million dinars, against a profit of 622 thousand dinars in 2018. This counter-performance is mainly explained by the increase in consumed purchases by 7.2 million dinars, other charges by 1 million dinars and the lack of consideration in the determination of the refining premium of all fixed charges.
As a result, the cumulative losses of the company reached 46 million dinars at the end of 2019, including the result of the year.
In 2019, the amount of raw sugar processed by the STS reached 147,289 tons, representing 40% of national consumption, generating a turnover of approximately 31.5 million dinars, compared to 21.6 million in 2018, or a growth of 46%.
Despite this, operating costs went up by 34% to 33.5 million dinars, compared to 25 million a year earlier, including 20.8 million dinars for purchases and 9.1 million dinars for personnel costs.
Thus, the operating result for the period is a deficit of 2 million dinars, compared to -3.3 million in 2018.
In addition, the company’s net financial burden was almost stagnant at 1.9 million dinars.
