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Societe Magasin General: 1 director
A director at Societe Magasin General bought 995,000 shares at 7.010TND and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...
- Adrian Loh Tzum Yung
- Chun Sung Oong
- Clement Ho Jia Xing
- Jack Goh Tooan Orng
- Jo Yee Ng
- John Cheong Ming Chern
- Julia Pan Mengyao
- Keith Wee Teck Keong
- Ken Lee
- Malaysia Research Team
- Peerawat Dentananan
- Posmarito Pakpahan
- Sabrina Soh
- Tanaporn Visaruthaphong
- Vincent Khoo Boo Aik
- Zhifeng Shen
Regional Morning Notes - Friday, February 25, 2022
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- Imen BEN AHMED
A flat H1 2017 sales
Magasin Général (parent company) reported Q1 2017 sales of TND219.767m (-0.4%). Thus, the company posted stable H1 sales at TND412.188m. The gross margin increased by 80 bps to 17.6%. At the end of June 2017, the staff costs increased by 11.4% to TND34.370m, bringing the staff costs/sales ratio to 8.3% (+80 bps). The total number of employees is 4,008. The number of outlets reached 89 units at the end of June 2017.
- Imen BEN AHMED
A difficult start to the year
Mg (parent company) posted a rather stable Q1 2017 turnover of TND192.42m, with a limited increase of 0.22%. The gross margin increased by 40 bps to 18.1%. The staff costs increased by 10.3% to TND16.796m, due to the new openings (85 outlets at the end of March, 2017 vs. 83 outlets at the end of December, 2016). The staff costs/sales ratio increased by 80 bps to 8.7%. Financial costs amounted to TND3.672m in Q1 2017 vs.
- Imen BEN AHMED
Q4, without "bad surprises"
Magasin Général (parent company) reported a slight increase by 1.23% in Q4 2016 sales to TND207.7m. Thus, the company posted an almost stable turnover of TND841.3m for the year (+0.8%). The gross margin increased by 160 bps to 17.0%. At the end of December, the staff costs increased by 7.92% to TND62.08m, bringing the staff costs/sales ratio to 7.4% (+50 bps). The workforce totaled 3,961 employees. The number of stores reached 83 units at the end of December 2016.
- Imen BEN AHMED
The retailer loses its challenge
Mg (parent company) showed a slight decrease in its Q3 2016 sales by 0.6% to TND220.868m. The group ended 9M with a Slight growth in turnover by 0.6% to TND633.516m. The gross margin gained 170 bps to 17.1%. At end-September, the staff costs increased by only 2.6% to TND45.825m. Thus, the staff costs/CA ratio remained stable at 7.23% (vs. 7.1% at end-September, 2015). The workforce totaled 4,117 employees. The number of stores reached 83 units at the end of September, 2016.
- Imen BEN AHMED
Mg is doing well
Mg (parent company) has maintained its pace of activity in the first half of 2016 with sales up slightly by 1.3% to TND412.648m. The EBITDA recorded a jump of 47.9% to TND23.148m with an EBITDA margin at 5.6% (+180 bps). The operating income reached TND9.032m, an increase of 166.3% with an operating margin of 2.3% (+150 bps). The Company’s net profit came to TND5.816m, up 480.5%. Thus, the net margin increased to 1.4% (+120 bps).
2015: another successful year
Mg (parent company) closed 2015 with a turnover of TND834.507M, up 10.5% compared to 2014. Q4 2015 sales increased by only 2.0% to TND205.005M. The Gross margin increased by 40 bps to 15.7%. In line with the sales growth, the staff costs increased by 12% to TND58.714M. Thus, the staff costs/sales ratio remained stable at 7.0% (vs. 6.9% at the end of 2014). The total workforce amounted to 4,090 employees. The number of stores reached 81 units at the end of 2015.
Lower than expected growth
During the first nine months of 2015, the activity of Mg was marked by a double-digit growth of 13.5% in turnover to TND658.369M (up by 2.7% to TND232.682M for Q3 2015). The gross margin remained almost stable at 15.5%. With the opening of four new stores and the closure of two others, the total number of stores reached 82 units. The staff costs increased by 20.0% to TND44.670M vs. a turnover that changed by 13%.
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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