In particular, he explains that“In the United States, demand is strong for Season’s products. Volumes and turnover increased. The most important thing is that we succeeded in getting American supermarket chains to accept a price increase. This means that we are not suffering from the inflation that is rampant all over the world and Season’s margins are completely normal”.
In terms of income structure, the boss of Mutandis specifies that 50% of the turnover is made outside Morocco: 20% in the United States, 30% between Western Europe and Africa and half of the turnover is made in Morocco.
“In international markets, we increased the selling price several times, once (up to 3 times), until we passed on the increase in raw materials and inputs and rebuilt our margins to operate with profit levels and margins that are the same as in 2019, before Covid”he assures.
In Morocco, therefore for the other half of the industrialist’s activity, products have been changed. Clearly, Mutandis has substituted the raw materials which have experienced an increase in their price by other raw materials. In the same way, it has substituted inputs by others which are “cheaper and just as effective”.
“With this, we are in the process of returning, including on the Moroccan part, to the margins that are called normal margins, that is to say the margins before 2019. Obviously, it is a challenge that we are gradually succeeding”confirms the founder and CEO of Mutandis.
In the end, A. Douiri specifies that if things remain as they are, “we will operate for the whole of the end of 2022 and, of course, for the whole of 2023, with normal margins like those of 2019”.
At the end of the first quarter of 2022, Mutandis generated a strong increase in turnover of 40% to 422 MDH. Growth for the quarter was driven by the acquisition of Season in the USA, as well as by detergents and food bottles.
Recall that in the 2022 guidance, despite the extreme level of input prices, the manufacturer had indicated that it was in line with the 2022 roadmap, which provides for a sharp increase in turnover and an increase in EBITDA (EBITDA). compared to 2021.