2023-10-04 09:22:02
S.R.M
Anonimous society
With capital of 32,000,000 dirhams
Head office: Route d’El Jadida, KM 14, Ouled Azzouz rural commune
Province of Nouaceur
FINANCIAL REPORT FIRST HALF 2023
SRM specializes in the distribution of capital goods in the construction and industrial sectors. In each of the two divisions, SRM’s strategy is to offer its customers full-line or turnkey solutions incorporating advice and pre-sales solutions, equipment as well as support (after-sales service and spare parts). spare).
1. SITUATION AND ACTIVITY OF THE COMPANY
The first half of 2023 was marked by:
Regression of the market in particular in industry Delay in investment decisions among most economic players (industry or construction) Very high inflation over the last 3 years with impact on our sales prices Production times still very long on the part of manufacturers Difficulty of obtaining financing from financial institutions
In this context, our turnover decreased to 126,068 Kdhs compared to 147,319 Kdhs for the previous year;
The gross margin produced fell by 18.7% to stand at 28,531 Kdhs compared to 35,078 Kdhs in 2022.
A more detailed analysis by division will allow us to more fully appreciate the results presented to you.
Industry Division
Turnover: 88 million dhs
Gross margin : 23 Kdhs
During this first half of 2023, the turnover of the industry division saw a drop compared to 2022 of around 18%.
Financial Report, First Half, Fiscal Year 2023
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I- Machinery activity:
Machinery turnover fell by 33% compared to last year, reaching a value of 46 MDHS. This decrease is mainly explained by the high invoicing during the first half of 2022 following the delivery of machines relating to the order portfolio recorded in 2021, strongly impacted by the very long delivery time.
II- Spare parts activity:
The turnover recorded an increase of 38% to 28 MDHS. This increase is mainly explained by the commercial performance of the department.
.
III- After-Sales Service Activity:
The after-sales service activity saw a decrease of 26% compared to last financial year. This decrease is mainly explained by the exceptional invoicing in the first half of 2022 of the port department.
Division BTP :
Turnover: MAD 38 million
Marge brute : 5 Mdhs
During this first half of 2023, the division’s turnover experienced a slight drop of 4%.
I- Machinery activity:
The turnover recorded an increase of 7% to stand at MAD 26 million in the first half of 2023, and an increase in the MB of 17%.
II- Spare Parts Activity:
Revenue from the Spare Parts activity was down 16%, mainly due to the slowdown in certain projects in the first half.
III- After-Sales Service:
After-sales service activity fell by 47% to stand at 1.5 million Dhs. This drop is mainly due to the expiry of a certain number of maintenance contracts.
2. ECONOMIC AND FINANCIAL RESULTS
For the first half of 2023:
Financial Report, First Half, Fiscal Year 2023
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The turnover amounted to 126,068 Kdhs compared to 147,319 Kdhs for the previous financial year; The total operating income amounts to 127,523 Kdhs compared to 151,681 Kdhs for the previous financial year. operating expenses for the financial year amounted to 133,160 Kdhs compared to 151,040 Kdhs for the previous financial year. The operating result was – 5,637 Kdhs compared to 642 Kdhs for the previous financial year. Account Given a financial result of -3,432 Kdhs compared to -2,628 Kdhs for the previous financial year, the current result for the financial year stands at -9,069 Kdhs compared to -1,987 Kdhs for the previous financial year. Taking into account these elements, the result for the financial year results in a pre-tax deficit of 8,994 Kdhs compared to an amount of -1,067 Kdhs for the previous financial year. Taking into account these elements, the net result for the financial year is a deficit of -9,314,272.49 dhs compared to an amount of -1,814,997.52 for the previous financial year.
3. PRESENTATION OF SUMMARY STATEMENTS:
The summary statements for the financial year as of June 30, 2023 that we are submitting for your approval have been established in accordance with the presentation rules and evaluation methods provided for by the regulations in force.
The presentation rules and evaluation methods used are identical to those of the previous year.
4. SITUATION OF THE COMPANY ON THE DATE OF THIS REPORT
Turnover at the end of August was down 15% to stand at MAD 165 million.
5. OUTLOOK Market Situation:
The market situation at the time of writing this report is down by almost 14% for the industrial division (more specifically forklifts) and 17% for construction equipment. The results for the second half will nevertheless be much better than the first half and the year 2022 thanks to the order portfolio.
Perspectives :
In this context and at the time of preparing this report, we have a billable amount of 80% compared to the budget. We remain positive about achieving our objectives for 2023.
6. RECEIVABLES AND DEBT SITUATION. We submit to you the situation of the receivables:
Financial Report, First Half, Fiscal Year 2023
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A K FOOD
Pay
Non Echu
30 J
120 J
> 120 J
External customer receivables
91 047 601
31 074 641
15
950 488
6 766 735
2 393 858
2
200 207
32 661 672
Intergroup receivables
68 060 676
9 101 607
1
582 973
1 476 635
1 985 177
1
656 552
52 257 732
Total Creditors
-17 433
Totals
159 090 843
40 176 248
17
533 461
8 243 370
4 379 035
3
856 759
84 919 403
100%
25%
11%
5%
3%
2%
53%
We submit to you the debt situation:
A K FOOD
Pay
Non Echu
> 120 J
Debts External customers
66 897 274
36 550
346
7 226
482
4 747 729
1 989 671
1 949 961
14 433
085
Intergroup debts
5 017 018
1 856
272
2 522
202
610 061
20 843
1 655
5
986
Total Debtors
-23 898 851
Totals
48 015 441
38 406
618
9 748
683
5 357 790
2 010 514
1 951 616
14 439
071
100%
53%
14%
7%
3%
3%
20%
Financial Report, First Half, Fiscal Year 2023
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