CTM, a leader in intercity transportation, reported consolidated revenues of 599 million Moroccan dirhams (MAD) for the third quarter of 2024, marking an impressive increase of 390 million MAD compared to the same period in 2023.
This surge is primarily attributed to the integration of two subsidiaries, Africa Morocco Links (AML) and Issal Madina, into the company’s consolidated accounts, according to a statement from CTM.
The company’s standalone revenue also grew, rising by 1.4% year-over-year to reach 180 million MAD. This steady growth was fueled by a rise in passenger numbers in the intercity transport segment and improved results from its coach rental services.
By the end of September 2024, CTM had invested a total of 453 million MAD. These investments were largely allocated to renewing its vehicle fleet and acquiring a majority stake—51%—in Africa Morocco Links, a strategic move that strengthens the company’s regional market position.
To support its ambitious expansion, CTM issued a bond worth 300 million MAD. This issuance pushed the company’s total debt to 344 million MAD, reflecting its commitment to growth and modernization while maintaining financial agility.
With strong financial results and strategic investments, CTM continues to reinforce its leadership in Morocco’s transportation sector.
