Lhe operating profit reached 1.327 billion dirhams (MMDH), down 18.1%, Ciments du Maroc said in a financial press release, adding that the gross operating surplus (EBITDA), penalized by the strong growth in production costs, fell by 13.4% to 1.587 billion dirhams.
As for the self-financing capacity, it also shows a decrease of 19.5% at the end of December 2022, to settle at 1.146 billion dirhams.
« En consequence of a global geopolitical context in crisis and a significant hydrometric deficit having penalized agricultural activity in the country, the construction sector in Morocco suffered a significant slowdown in 2022 which worsened during the 2nd half of the year.“, underlines the same source, recalling that the cement market is thus down 10.6% compared to December 31, 2021.
Impacted by a change in the flow of imported products, the financial year was marked by significant inflationary pressure affecting all cost factors. Inflation has particularly affected fuels, essential to the company’s activity, raw materials and transport costs
Ciments du Maroc indicates that it has continued its clinker export activity and has been able to partially pass on the increase in inputs to its selling prices. Its consolidated turnover therefore amounted to 4.04 billion dirhams at the end of 2022, down 2.1% compared to the end of 2021.
In addition, the company’s Board of Directors will propose to the next General Meeting, the distribution of a dividend of 60 dirhams per share for the 2022 financial year.
