Finally some common sense?
SITS ended the year 2016 with a 9% decrease in its total operating income to TND4.8m (TND5.3m in 2015). This drop is attributable to both a 2% decrease in sales (TND4.6m in 2016 vs. 4.7m in 2015) and the 61% decrease in Other Operating Income (TND250m in 2016 vs. TND641m).All of the company’s sales were from Housing and zero commercial properties sold in 2016. Panorama Ennaser contributed 60% to the company’s sales while the remaining 40% came from the Kantaoui Plage project.
The company’s EBITDA decreased by 2% to TND0.460m (TND0.466m in 2015) but the EBITDA margin improved slightly by 69 bps.
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