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This commercial performance would be attributable to the increase in volumes sold of + 16.6% to 871 KT, probably coupled with a favorable price effect in the wake of the recovery in international crude prices (+ 45% in ytd for Brent at end of June 2021).
This commercial dynamic was also supported by investments in the network of service stations with 6 new openings in 2021, bringing the operator’s network to 353 points of sale as of June 30, 2021. On the operational side and to a greater extent , consolidated operating income jumped 5.8x to MAD 558.3 million under the combined effect of better control of operating expenses and a likely favorable inventory effect given the recovery in prices on the S1 2021.
Consequently, the operating margin gained +7.9 points to 10% at 06/30/2021. For its part, the consolidated net income stands at MAD 361 million, up 5.3x compared to the same period a year earlier. This change includes a financial result which drops from -4.9 MDH to 8.3 MDH at the end of H1 2021. Thus, the net margin appreciates by 5 points to settle at 6.5% at the end of the first 6 months. from 2021.
In terms of balance sheet, the company recorded a net deleveraging of 480.5 MDH (against -779 MDH at the end of 2020) for a net cash position of 959 MDH, thus testifying to its financial solidity even in times of crisis.
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