Auto Nejma Maroc’s Board of Directors held a virtual meeting on Friday, September 13, under the chairmanship of Mr. Abdellatif Hakam, to review the financial results for the first half of 2024. The company reported a revenue of 1.29 billion MAD, marking a 19% increase compared to the same period in 2023.
The company continues to drive sales growth, particularly through the expansion of its Byd vehicle range and the introduction of new hybrid models. As part of its ongoing investment strategy, Auto Nejma will focus on upgrading its sales points while expanding its dealership network to accommodate the growth in its brand portfolio.
Financial performance highlights
- Operating profit: The company achieved an operating profit of 149.5 million MAD, representing an 11% increase compared to the first half of 2023.
- Net profit: Despite strong revenue growth, net profit totaled 80 million MAD, a 6% decrease from the same period in 2023, due to exceptional factors that impacted the results.
Cash position and liquidity
Auto Nejma’s net cash position stood at -242.8 million MAD as of June 2024, an improvement from the -264.8 million MAD recorded at the end of December 2023. This improvement came despite the normalization of stock levels.
