Ciments du Maroc 1Q turnover slips 4%

Ciments du Maroc, part of Heidelberg Materials, posted an unaudited turnover of MAD917.8m in the 1Q2023, down four per cent YoY from MAD955m in the 1Q22. Cement consumption in Morocco saw a 5.3 per cent drop in the January-March 2023 quarter when compared to the year-ago period.

The company’s investments in the first quarter of 2023 increased one per cent YoY to MAD47.3m.

Financial debt reached MAD42.4m, which corresponds to bank overdrafts.