(Boursier.com) — As part of its major transformation plan, Pharmasimple provides information on the evolution of its debt reduction and on the restructuring measures in progress.
As of February 28, Pharmasimple’s net debt amounted to €1 million, to which is added €2.4 million in supplier debt. The cumulative total of the two debt items shows a decrease of 0.2 ME in two months. It is the result of the active policy of reducing supplier outstandings inherited from the divested Internet activity.
The mechanical reduction in shareholders’ equity is linked to returns from pharmacies, whose acquisition Pharmasimple has decided to postpone. To date, the company operates 6 pharmacies in Belgium.
The reorganization of structural staff has continued since January 1 with the departure of 5 employees, reducing the administrative staff from 11 to 6.
Pharmasimple intends to continue its debt reduction efforts in 2023, in order to return to a financial structure compatible with its new economic model, centered on the operation of pharmacies, and with its forecast level of activity.
The company also wants find alternative and/or complementary financing solutions to convertible bonds, in order to resume its pharmacy acquisition program, while limiting the dilution of its capital.
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