Siphat Reports H1 2026 Financial Results: Strong Retail Growth Amid Hospital Segment Slowdown and Debt Restructuring Plans
Tunis – The Tunisian Pharmaceutical Industries Company (Siphat) has released its operational and financial performance indicators for the second quarter and first half of 2026, highlighting a robust recovery in retail sales alongside ongoing financial challenges.
📊 Key Financial Highlights (H1 2026)
- Retail (Officinal) Revenue: Surged to 1.825 MDT, up from 0.563 MDT in H1 2025, primarily driven by dry pharmaceutical forms (1.363 MDT).
- Hospital Segment: Remains the company's largest revenue contributor at 2.676 MDT, compared to 2.812 MDT during the same period in 2025. The slight contraction was mainly observed in dry forms (1.419 MDT).
- Exports: Reached 0.151 MDT. Siphat clarified that these exported medications correspond to batches manufactured in 2025 but shipped during Q2 2026 due to logistical constraints on the foreign client's end.
💰 Financial Structure & Restructuring Outlook
Despite operational recovery, Siphat's financial structure remains under pressure. Total debt stood at 164.218 MDT as of June 30, 2026, reflecting a 22% year-on-year increase. The vast majority of this debt (82%) is owed to the State and public enterprises.
In response, management is currently developing a comprehensive restructuring plan designed to:
- Clean up financial liabilities
- Restore the company's market competitiveness
- Ensure long-term corporate sustainability
🏭 Operational Updates & Strategic Importance
In May 2026, Siphat announced the successful restart of its liquid solution vial production line following several years of suspension. This operational milestone underscores the company's commitment to stabilizing domestic pharmaceutical manufacturing.
The turnaround of Siphat is widely regarded as critical for Tunisia's national pharmaceutical industry and, more importantly, for guaranteeing uninterrupted medication supply to public hospitals across the country.
Note: MDT = Million Tunisian Dinars. Figures reflect official H1 2026 reporting by Siphat.
