Ciments du Maroc SA, part of Heidelberg Materials, saw its domestic sales volumes increase in 2024 across all sectors but this decrease was partially offset by the drop in export volumes. The group's operational turnover improved 1.4 per cent YoY to MAD4.36bn (US$453m) at the end of 2024 when compared with MAD4.31bn in 2023.
The increase in local sales has been attributed to the dynamics of the national construction market. The major infrastructure projects launched in the kingdom, combined with work related to the organisation of the 2025 Africa Cup of Nations and the 2030 FIFA World Cup, have injected new impetus into the sector. This has helped revive the construction market and boost national cement consumption, which recovered showing 9.4 per cent growth in 2024.
However, Ciments du Maroc's saw its export volumes decline as export revenues are significantly lower than in 2023.
The company's net profit declined by six per cent YoY to MAD935m from MAD994m in 2023.
"Despite dynamic activity reflected in our operating results, the recognition in 2024 of exceptional items not directly related to our operations, including a tax charge, had a downward impact on net income, which was down -6.0 per cent compared to 2023 (MAD935m),” comments Ciments du Maroc in its recent financial communication. At the same time, self-financing capacity is clearly positive with a value of around MAD1.315bn, an improvement of 12.2 per cent compared to the same period of the previous year.
Going forward, the outlook for the construction sector remains very positive, particularly thanks to major football competitions, which will require numerous major infrastructure projects, said the company in a press release. Ciments du Maroc is confident in its earnings growth over the coming years.
