2023-08-17 15:03:12
Aluminum du Maroc published its results for the first half of 2023 on Thursday. The turnover of the company listed on the Casablanca Stock Exchange reached 599 million dirhams (MDH) at the end of June 2023, down 17% compared to at the same period of 2022. This drop is mainly explained by the drop in demand and the high levels of inventory held by the majority of customers at the end of 2022, with a general drop in prices linked to the drop in the LME (London Metal Exchange, Editor’s note) in relation to the year 2022, indicates the company in a press release on quarterly results for the second quarter of 2023 (Q2-2023).
With regard to investments, the company is planning investments to upgrade its production tool, develop distribution sites, modernize its information system, and focus on reducing its carbon footprint, for a provisional envelope of 25 MDH, the same source said.
For debt, it stood during the second quarter of 2023 at 421.29 MDH, down 26% compared to 2022, thanks to the improvement in the company’s working capital requirement (WCR), particularly linked to stocks of raw materials.
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