Morocco: Ciments du Maroc reports 5.1% fall in turnover

Moroccan cement company Ciments du Maroc (Italcementi Group) has reported a 5.1% fall in its operational turnover to MAD 3.43 billion (€320.06 million/US$346.73 million), while its Ebitda fell by 7.9% to MAD 1.48 billion. The company's net profit fell slightly by 0.8% to MAD 813 million, with operational efficiency notably in substitute fuel use making up for a drop in sales. By volume, the company's sales (as well as those of its subsidiary Indusaha) fell by 5.1%, notably affected by the floods that hit th

March 11, 2015 Read time: 2 mins

RSSMoroccan cement company Ciments du Maroc (726 Italcementi Group) has reported a 5.1% fall in its operational turnover to MAD 3.43 billion (€320.06 million/US$346.73 million), while its Ebitda fell by 7.9% to MAD 1.48 billion.

The company's net profit fell slightly by 0.8% to MAD 813 million, with operational efficiency notably in substitute fuel use making up for a drop in sales.

By volume, the company's sales (as well as those of its subsidiary Indusaha) fell by 5.1%, notably affected by the floods that hit the country in late 2014. Sales of ready to use concrete fell by 26.6% while sales of aggregates fell by 28.8%.

Relating to governance, the company has split the function of president of the management board and managing director, with Mohamed Chaïbi appointed president of the board and Mario Domenico Bracci appointed managing director.

For 2015 the company will continue with its development of a cement works and crushing centre in Tangier, while it is looking into developing a crushing unit in Guinea.

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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

October 15, 2013