Auto Nejma’s turnover stood at MAD 841 million (MDH) at the end of June 2020, compared to MAD 950 million in the same period a year earlier.
In the second quarter of 2020, Auto Nejma achieved a turnover of 380 million dirhams, down 5% compared to the same period in 2019, announced the dealer in a press release on its quarterly indicators, noting that the volume of vehicles sold was down 37.8% compared to Q2-2019, dropping from 833 units in 2019 to 518 vehicles in 2020.
This decrease in turnover, which is less proportional than that in volume, is explained, according to the company, by the invoicing during this period of commercial vehicles which were the subject of exceptional contracts signed in 2019, specifying that despite the post recovery – Containment of commercial activity, the Moroccan automobile market (all segments combined) recorded a decline of 42.8% at the end of June, compared to the same period a year earlier.
At the end of the 2nd quarter, Auto Nejma maintained its investment strategy with 2.8 MDH in Q2-2020, against 1 MDH in Q2-2019, adds the same source. The level of debt reached 347.6 million dirhams, against 30.5 million dirhams at the end of June 2019. “This increase is a direct consequence of Covid-19, linked to the cessation of activity during the confinement period, without the possibility of canceling our short-term external commitments, thus impacting the stock level on the rise ”, explains Auto Nejma.
In addition, the company claims to have taken all health measures to protect the health of its employees, their families, its customers and partners.
“The Covid-19 health crisis had a negative impact on the activity of Auto Nejma in a significant way, without jeopardizing its good financial health,” the press release concluded.
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