TotalEnergies Marketing Maroc (TMA) H1 2024 earnings summary

Executive summary

• Net income for H1 2024 reached 402 MMAD (statutory) and 406 MMAD (consolidated), both up year-over-year.

• Growth driven by higher sales volumes amid economic recovery and lower prices, with less negative inventory effects than H1 2023.

• The company operates 393 service stations, 117 of which are solarized, and holds a 15% market share in Morocco.

Financial highlights

• Statutory revenue for H1 2024: 10,525 MMAD, up from 9,021 MMAD in H1 2023.

• Statutory net income: 402 MMAD (H1 2024) vs. 136 MMAD (H1 2023).

• Consolidated revenue: 8,490 MMAD (H1 2024) vs. 8,263 MMAD (H1 2023).

• Consolidated net income: 406 MMAD (H1 2024) vs. 97 MMAD (H1 2023).

• Operating income (statutory): 641 MMAD (H1 2024) vs. 166 MMAD (H1 2023).

• EBITDA (consolidated): 604 MMAD (H1 2024) vs. 175 MMAD (H1 2023).

Outlook and guidance

• Management highlights ongoing economic recovery and expects continued positive momentum, but notes that future results remain subject to market volatility and regulatory risks.