The Société de Réalisations Mécaniques (SRM) has reported a revenue of 106.63 million dirhams (MDH) for the second quarter of 2024 (Q2-2024), marking a 50.91% increase compared to the same period in 2023 (Q2-2023). This notable rise is primarily attributed to the billing of projects from the construction division (BTP), which were finalized at the end of last year and billed in the second quarter, SRM stated in its quarterly report.
In terms of machinery sales, SRM sold 305 units in Q2-2024, a significant increase from the 186 units sold in Q2-2023. The sales volume of spare parts also saw a rise, with 44,528 pieces sold in Q2-2024 compared to 43,585 pieces in Q2-2023, according to the same source.
Additionally, SRM’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed substantial improvement over the previous year. The EBITDA went from a negative 578,000 dirhams in Q2-2023 to a positive 856,000 dirhams in Q2-2024.
This positive outcome is largely due to an enhancement in the gross margin, which increased by 27.8%, as detailed in the report.
