The greatest disappointment
During the first half of 2015, the Mg's business was marked by a double-digit growth of 20.8%, in turnover, to TND407.266M. The company's gross margin lost 40 bps to 15.5%. The EBITDA was down 2.8% to TND15.653M, bringing the EBITDA margin to 3.8% (-100 bps). Similarly, the EBIT dropped sharply by 53.2% to TND3.392M for an EBIT margin of 0.8% (-130 bps). This poor performance is mainly due to the increase in operating expenses (+23.1% in staff costs, and +21.4% in purchases of goods sold).
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