Ports Operating Company: FINANCIAL RESULTS AS OF DECEMBER 31, 2021

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The Management Board of the Société d’Exploitation des Ports, Marsa Maroc, met on March 2n/a2022 under the chairmanship of Mr. Said ASBAAI, to examine the company’s activity and close the accounts at the end of 2021.

A SIGNIFICANT INCREASE IN FINANCIAL INDICATORS

At the end of 2021, the MarsaMaroc group achieved a turnover of 3,592 MDH, up 30% compared to the previous year, thanks in particular to the 32% increase in traffic processed. This growth was driven by the launch of Tanger Alliance, which achieved a turnover of 678 million dirhams during its first year of activity, as well as by the growth in turnover of the group’s other subsidiaries (+ 24% for TC3PC at the port of Casablanca and +11% for SMA at the port of Agadir).

Operating income amounted to 1,129 million dirhams, up 49% compared to the previous year. This change is explained by the control of operating expenses and the growth in turnover.

The Group’s Net Income achieved by the Marsa Maroc group amounted to 666 million dirhams, representing a net margin of 19%.

OUTLOOK

The Marsa Maroc group is in a positive dynamic, driven by the growth of its subsidiaries, as well as by its strategic partnership with the Tanger Med group.

In 2022, the Marsa Maroc group will consolidate the growth of its container terminal at the port of Tanger Med 2 by supporting its customers in their commercial development in the region, as well as by strengthening its position in port services provided to domestic traffic.

Also, following the expiration in December 2021 of its contract for the handling of bulk and general cargo activities at the port of Tanger Med 1, Marsa Maroc has obtained its renewal for a period of 10 years.

DIVIDEND PROPOSAL

The management board proposes to submit for the approval of the ordinary general meeting, the distribution of the dividends of MAD 7.2 per share.

Financial communication

FINANCIAL RESULTS AS OF DECEMBER 31ST2021

TURNOVER (MILLION MAD)

3,592

2,757

+30%

20202021

OPERATING INCOME (MILLION MAD)

1,129

759

+49%

20202021

NET INCOME GROUP SHARE (MILLION MAD)

666

292

+128%

20202021

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