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.

Quarry Products Auctions, Used Equipment, Rental & Finance

For more information on companies in this article

Related Content

July 31, 2015

Morocco: Cimar turnover up 7.6% in H1 2015

In the first half of 2015, turnover for the Moroccan cement group Ciments du Maroc (Cimar) was up 7.6%, compared with the same period in 2014, to MAD 1.93 billion (€178.90 million/US$196.39 million), despite a 1.3% decline in national consumption.

The performance is being attributed to good sales in the Doukkala-Abda region, which is currently carrying out the construction of the Safi-El Jadida motorway and Safi port.

Consolidated net profit was up 10% to MAD 501 million.

Gross operating income was

November 6, 2014

HeidelbergCement increases revenue and operating income in Q3

Highlights of Heidelberg Cement’s third-quarter results show that the group had its best operating income since the financial crisis and there have been increased sales volumes in all business lines.
The group says that revenue increased by 4% to €3.8 billion (like-for-like, +7%); operating income improved by 13% to €675 million despite negative exchange rate effects (like-for-like, +19%) and operating cash flow improved and net debt was reduced.
The outlook for 2014 is confirmed and HeidelbergCement says

February 18, 2015

Lafarge results hit by impairments but 2015 will be “exceptional”

Reporting a fourth-quarter loss, compared to profit last year, Lafarge has said its merger with Holcim is on track for completion in the first half of 2015. The company says the net result group share at €145million was impacted by €385 million non-cash impairment of assets related to Syria and Iraq. The Q4 figures release by Lafarge show sales up 2% to €3,207 million ((up 1% like-for-like); EBITDA (earnings before interest, tax, depreciation and amortisation), down 4% to €679 million (1% like-for-like) and

boombox1

Highlighted Content

boombox2