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Tunisia: UNIMED sees turnover fall by 15% at end of March, hit by exports

The UNIMED Company saw its turnover fall by 14.7% in the first quarter of 2020, compared to the first quarter of 2019, from 31.1 to 26.5 million dinars.

This is mainly due to the offset effect between the increase in pharmacy turnover by 2 million dinars (+27.7%), the decrease in hospital turnover by 3.5 million dinars (-33.7%) due to the late receipt of 2020 order forms from the Central Pharmacy of Tunisia, and the drop in exports of -3.4 million dinars (-38.6%) following the global logistical disruptions in March 2020 in connection with the COVID-19 pandemic.

Production in units (vials, syringes, bags) decreased by 20.4%. The company notes that renovation work begun in 2019 is still in progress for some production units.

At the end of the first quarter of 2020, investments (intangible and tangible) amounted to 1.6 million dinars.

They essentially involve industrial equipment and tools for 753 thousand dinars, installations and fittings for 485 thousand dinars and works of extension of the factory for 99 thousand dinars.

The value of the long-term debt amounts to 24.9 million dinars as of March 31, 2020, compared to 25.9 million dinars as of December 31, 2019.

This decrease is due to the reclassification of maturities of less than one year which increased the value of the short-term debt.

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