The Moroccan cement market recorded a modest growth of 1.1% by June 30, 2024, compared to the same period in 2023. Despite this, Ciments du Maroc saw its revenue for the first half of 2024 reach 1.991 billion dirhams, a decline of 7.4%. This drop is attributed to the calendar shift of the Aïd Al Adha holiday compared to 2023, as well as the introduction of new production capacities in the national market.
The company managed to keep its operating result nearly in line with the previous year, showing only a slight decline of 0.7%, thanks to a significant reduction in energy costs combined with strict control over operational expenses.
However, net income was impacted by an increase in tax liabilities, resulting in a 2% drop compared to June 2023, settling at 442 million dirhams.
Ciments du Maroc has continued its efforts to reduce carbon dioxide (CO2) emissions through the extensive use of alternative fuels and by promoting the sale of low-carbon products. The company is also rolling out a major program to build photovoltaic parks at its production sites, which is expected to be completed in the coming months. Additionally, the company remains committed to local communities by actively contributing to waste recycling and recovery efforts at its plants.
The construction sector in Morocco is set for strong growth, with promising prospects ahead. Significant infrastructure projects are expected as Morocco prepares to host major football events such as the 2025 Africa Cup of Nations (CAN) and the 2030 World Cup. Furthermore, government housing aid measures, coupled with the recent reduction of the central bank’s key interest rate, are expected to benefit the residential construction market.
In light of these developments, Ciments du Maroc anticipates an improvement in its results during the second half of 2024 and over the coming years.
