Marsa Maroc: Strong Results for the First Half of 2024 with Revenue Growth and Profitability

The Board of Directors of the Port Operating Company, Marsa Maroc, convened to review the financial results for the first half of the year. The figures indicate a significant improvement in the group’s performance, characterized by robust revenue growth and enhanced profitability.

Revenue and Traffic Growth

Marsa Maroc reported a 17.2% increase in its consolidated revenue as of June 30, 2024, reaching 2,482 million dirhams. This performance is primarily attributed to a rise in the volume of goods handled, totaling 31.1 million tons, which represents a 14.5% increase compared to the first half of 2023. This growth signals the vitality of the group’s port activities and the efficiency of its operations.

Significant Improvement in Profitability

Alongside the revenue increase, Marsa Maroc experienced a notable enhancement in its profitability. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged by 29% to reach 1,333 million dirhams. This growth is the result of stringent management of operating expenses, which rose by only 4% during the same period, despite the expansion of the group’s activities.

The Group’s Net Profit (GNP) also showed a significant increase of 45%, reaching 626 million dirhams. This performance reflects the financial strength of the group and its ability to generate value for its shareholders.

Strengthening the Concession Portfolio

Marsa Maroc continued its expansion by consolidating its concession portfolio. The group signed a contract for the management of the East Container Terminal at the Nador West Med port, thereby strengthening its strategic positioning within the national territory. Additionally, Marsa Maroc completed the acquisition of 100% of the Agadir Handling Company, increasing its stake in this subsidiary.

Internationally, Marsa Maroc secured the delegated management contract for Terminals 1 and 5 at the Port of Cotonou in Benin, thereby broadening its footprint in West Africa and reinforcing its position as a key player in international port management.

Outlook

With these solid results and its new acquisitions, Marsa Maroc is well-positioned to continue its growth in the coming years. The group plans to leverage its new concessions to strengthen its presence in the port sector and further enhance its financial performance, while remaining a key player in international trade through Moroccan ports.

Marsa Maroc Has Continued Its Expansion by Consolidating Its Concession Portfolio…

For more details and a comprehensive analysis of the financial results,find the semi-annual reportby following this link:The semi-annual report: Marsa Maroc Shows Strong Results for the First Half of 2024 with Marked Growth in Revenue and Profitability (maritimenews.ma)