Ciments du Maroc posts 25% drop in net profit in 2022

Morocco-based Ciments du Maroc, part of Heidelberg Materials, has reported a turnover of MAD4.043bn (US$395.4m) in 2022, representing a decrease of 2.1 per cent YoY from MAD4.128bn. The construction sector in Morocco was impacted by a significant slowdown in 2022, which worsened in the second half of the year, due to the global geopolitical context and draught affecting the country’s agricultural sector.

Operating profit reached MAD1.327bn in 2022, down 18.1 per cent YoY from MAD1.62bn due to a steep rise in production costs while net profit stood at MAD917m, down 24.6 per cent YoY.