The restoration of financial equilibrium at Tunisia’s historic supermarket chain Magasin Général appears to have begun. The company’s interim accounts for the first half of this year bear witness to this.
At the end of the first six months of the year, the company had significantly improved its EBITDA, an indicator of the company’s operating profitability, which rose to TND 14.7 million from TND 10.7 million in the same period last year. This performance was driven by a sharp increase in the company’s revenues, which stood at TND 475.2 million dinars at the end of June, compared to TND 442.9 million a year earlier, representing a growth of 15%.
Despite a sharp 8% increase in purchases of goods sold (TND +27 million), the company’s operating expenses increased by only 6.6% to a total of TND 477.3 million.
As a result, the operating deficit narrowed to TND 2.1 million in the first half of this year, compared to TND 4.5 million at the end of June 2022.
Investment income for the first half of 2023 amounted to TND 4.6 million, compared to TND 3.4 million for the same period last year.
Despite the burden of net financial expenses, which stagnated at TND 15.6 million, the company managed to reduce its half-year net loss to TND 12.9 million dinars at the end of June, compared to a loss of TND 16.5 million a year earlier.