“This is due to the decline in the distribution margin and the increase in operating expenses of 1.9% compared to 2021, impacted by inflation in particular of hydrocarbon costs and expenses related to water stress. “, explains the company in a press release on its annual indicators.
The overall turnover (CA) for the year stands at 7.38 billion dirhams (MMDH), up 1.4% compared to 2021, indicates the same source.
In the 4th quarter of 2022, sales amounted to 1.87 billion dirhams, down 3.4% compared to the 4th quarter of 2021. This trend is explained by the significant drop in water sales in connection with stress water, despite a partial recovery in electricity sales to industrial and licensed customers (cafes, restaurants, etc.).
Electricity turnover during the 4th quarter of the year stood at 1.16 billion dirhams, up 0.1% compared to the same period of the previous year.
In volumes, electricity sales during the 4th quarter were stagnant compared to 2021 due to the partial recovery in industrial activity, mitigated by the drop in sales to administrations.
Overall, the volumes sold at the end of December 2022 were up by 0.8%, i.e. a turnover up by 1.7%.
Drinking water turnover during the 4th quarter reached 330 MDH, down 2.7% compared to the 4th quarter of 2021.
Volumes sold fell by 3.5% over the same period of the previous year, mainly due to a drop in sales to administrations in connection with the restrictive measures linked to water stress implemented by the authorities, in particular with the temporary closure of watering meters in green spaces.
Delegated Management investments for 2022 amounted to 950 MDH, including 316 MDH financed by the Delegatee.
The level of net debt rose, for its part, to 398 MDH, down 597 MDH compared to the year 2021.