2023-06-09 18:00:48
Activity remained at a stable level at the end of March 2023
Results
In the first quarter of the year, the Al Omrane Group started work on 300 new production units and 2,701 urban upgrading units.
Resilience at the rendezvous for the Al Omrane Group. The developer succeeded in its first quarter of 2023, despite the difficult national and sectoral economic context. This milestone is indeed marked by the sharp rise in raw materials and high inflation. And yet Al Omrane managed to maintain a stable level of activity. A performance driven by the Holding’s recovery plan as well as by the efforts made both operationally and commercially.
It appears to be in line with the group’s annual forecasts and strategic commitments. Al Omrane closed the first quarter of 2023 with a turnover of 714 million dirhams once morest 758 million dirhams a year earlier. “To support State policy and the actions carried out by the Ministry of National Territorial Development, Urban Planning, Housing and City Policy (MATNUHPV), the Al Omrane Group has multiplied its efforts, in line with its strategic commitments.
Thanks to the support of its institutional partners and the mobilization of its employees, the Group has started work on 300 new production units and 2,701 urban upgrading units,” says Al Omrane. And to add that “the Group has also made progress on the completion of its various projects, with 673 new production units and 5,642 units in urban upgrading”. On the balance sheet, the Al Omrane Group consolidates its financial structure with a slight decrease in its debt. Consolidated debt thus fell from 4.51 billion dirhams at the end of December 2022 to 4.37 billion dirhams at the end of March 2023.
The performance observed in the first quarter is a continuation of the achievements of the 2022 financial year. Indeed, Al Omrane ended the year with a turnover of 4.33 billion dirhams, up 6 % and a volume of 20,702 units. Housing starts for the 2022 financial year concerned 13,118 new units. The Holding has also completed the production of 17,781 units for the said financial year. For their part, deliveries are around 22,209 units. Thanks to the improvement in the product mix during this year, with high value-added projects, operating income improved in 2022 to stand at 394 million dirhams. Similarly, the various actions undertaken have made it possible to achieve a consolidated net result of 224 million dirhams.
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A NEW PRESIDENT AT THE HEAD OF AL OMRANE
Bio express
A change has just taken place in the top management of Al Omrane. Housni El Ghazaoui was recently appointed by His Majesty King Mohammed VI to head the management board of Al Omrane Development Holding. State engineer in civil engineering, Mr. El Ghazaoui is a laureate of the Mohammadia School of Engineers. He holds a Master of Business Administration and a Master of Expert Coach. Mr. El Ghazaoui has accumulated extensive experience in business management and in the field of urban development through the various responsibilities he has assumed within several companies. He cut his teeth as a manager at the Société Nationale des Autoroutes du Maroc, where he held the positions of director of engineering, in charge of development strategy, financial engineering, operating engineering and information systems, and director of administrative and financial affairs, in charge of financial affairs, human resources, markets, legal affairs and general resources. Deputy Director General of the Marchica Med Afrique Agency (Abidjan-Côte d’Ivoire Branch, in 2017), Mr. El Ghazaoui subsequently held the position of Chairman and Chief Executive Officer of the Société d’Aménagement de la Vallée de l West Martil and President of Bouregreg Cultures and Bouregreg Marina within the Bouregreg Valley Development Agency.
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