As of the end of September 2024, Société Métallurgique d’Imiter (SMI) has achieved a turnover of 821 million dirhams, reflecting a 5% growth compared to the same period in 2023. This positive performance is attributed to increased silver production and sales, a 14% rise in average selling prices, and a modest depreciation of the USD/MAD exchange rate, down by 2%.
SMI invested 146 million dirhams in the first nine months of 2024, with 36% of these funds directed toward mine development. These investments highlight the company’s commitment to strengthening its operational capacity and preparing for future growth.
The company’s net debt stands at -280 million dirhams, marking a significant reduction of 60 million dirhams since the close of 2023. This improvement stems from prudent financial management and enhanced self-financing capacity, enabling SMI to cover its investment needs while distributing dividends during the period.
SMI’s Q3 results underscore a well-managed growth trajectory and a robust market position. The company’s focus on efficiency, sustainable operations, and financial resilience is driving its progress, ensuring its competitiveness in the evolving metallurgical sector.
With rising revenues, targeted investments, and a sharp decline in debt, SMI continues to pave the way for a stronger and more sustainable future.
