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Morocco: analysts predict strong 2015 for CIMAR

Analysts from Attijari Intermédiation have predicted a strong 2015 for Ciments du Maroc (CIMAR), largely due to an expected boost in demand for cement in the south and south-centre regions affected by floods. The company's financial position will also benefit from reduced energy costs (notably petcoke) as well as a net appreciation of its stake in Suez Cement to around €346 million/US$ 392.33 million. The non-recurrence of its 2014 maintenance programme means that the company’s gross operating margin is pro
February 26, 2015 Read time: 1 min

RSSAnalysts from Attijari Intermédiation have predicted a strong 2015 for Ciments du Maroc (CIMAR), largely due to an expected boost in demand for cement in the south and south-centre regions affected by floods.

The company's financial position will also benefit from reduced energy costs (notably petcoke) as well as a net appreciation of its stake in 7903 Suez Cement to around €346 million/US$ 392.33 million.

The non-recurrence of its 2014 maintenance programme means that the company’s gross operating margin is projected to increase to a record 48%.

CIMAR’s high cash flow (MAD 1.25 billion/US$130 million/€115 million) in the first half of 2014 accounting for 1.5 times its net profit) means it is likely to offer a high yield for investors.

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