Afriquia Gaz has demonstrated resilience in Morocco’s energy market, with stable financial and operational results in the third quarter of 2024, despite minor variations.
During this period, the company’s social tonnage registered a slight decrease of 0.5 percent, amounting to 291,688 tonnes compared to 293,219 tonnes in the same period last year. However, cumulative tonnage since the beginning of the year showed an increase of 1.3 percent, reaching 922,642 tonnes. This growth was supported by a sustained commercial strategy.
The social revenue for the quarter saw a significant increase of 19.1 percent, reaching 2,079 million dirhams, up from 1,746 million dirhams in 2023. This growth was largely attributed to a 13.6 percent rise in the resale price. For the year to date, total social revenue amounted to 6,252 million dirhams, reflecting an overall increase of 1.9 percent compared to the previous year.
Consolidated revenue for the third quarter increased by 23.1 percent to 2,174 million dirhams. From January to September, this figure rose to 6,403 million dirhams, showing a growth of 3.3 percent compared to the same period in 2023.
Afriquia Gaz continued to invest heavily during this period, with expenditures for the third quarter totaling 97.6 million dirhams, an increase of 2.1 percent compared to last year. These investments were primarily allocated to the production of new gas cylinders to meet growing market demand. Over the first nine months of the year, investments amounted to 340.1 million dirhams, marking a rise of 19.5 percent. Consolidated investments also followed this upward trend, increasing by 15.7 percent to reach 386.2 million dirhams.
The company’s net debt levels also saw significant improvement. As of September 30, 2024, net debt stood at 1,250.9 million dirhams, compared to 1,520.4 million dirhams a year earlier. On a consolidated basis, financial net debt decreased from 2,616 million dirhams in 2023 to 2,447.4 million dirhams in 2024.
The results achieved by Afriquia Gaz as of the end of September 2024 reinforce its capacity to meet its annual objectives. With disciplined management and an effective commercial strategy, the company is well-positioned to continue strengthening its market leadership while meeting customer expectations.
