TotalEnergies Marketing Maroc (TMA) H2 2024 earnings summary

Executive summary

• Revenue reached 18,348 million MAD, up 2% year-over-year, driven by favorable market conditions and network expansion, including 7 new stations and new restaurant concepts.

• Net income surged to 845 million MAD from 59 million MAD in 2023, reflecting improved operating and financial performance.

• The company maintained its position as a leading service provider, winning key contracts and enhancing its retail and food service offerings.

Financial highlights

• Operating income rose to 1,310 million MAD from 1,000 million MAD year-over-year.

• Financial result improved to 35 million MAD from -13 million MAD in 2023.

• EBITDA and gross margin not explicitly disclosed, but margin improvement is implied by higher net and operating income.

• Consolidated revenue (IFRS) was 16,752 million MAD, with consolidated net income at 934 million MAD, up from 50 million MAD in 2023.

• Proposed dividend of 113 MAD per share, totaling 1,012 million MAD, to be paid by September 2025.

Outlook and guidance

• The company anticipates a challenging and volatile market in 2025, focusing on customer relationships and cost control to preserve profitability.

• Subsidiaries are expected to face similar market conditions, with continued emphasis on operational efficiency and network development.