The Transport Company of Morocco Increased its Turnover
The Transport Company of Morocco is one of the national operators which have been heavily impacted by the crisis and restrictions imposed by the state of health emergency. At the end of 2020, the national road carrier had announced a social turnover down by 50.8% to $29.4 million (262 MDH). At the end of the first half of this year, the company’s consolidated turnover (CA) increased by 39.7%.
The activity is picking up again for the Transport Company of Morocco (TCM). At the end of the first half of this year, the company’s consolidated turnover (CA) increased by 39.7%, to $27.2 million (243 MDH)) against $19.5 million (174 MDH) a year earlier.
In its financial communication, TCM announced a 47.9% increase of its social turnover during the first six months of the current fiscal year. This compartment thus amounts to $20 million (179 MDH) at the end of June 2021, against $13.6 million (121 MDH) at the end of June 2020. As for capital expenditure (Capex), it reached $5.5 million (49 MDH) at the end of the first half of the year, against $1.7 million (15 MDH) in H1-2020, which corresponds to an increase of 226.7%. As for the indebtedness, it has decreased by 2.1% at the end of June 2021, settling at $20.6 million (184 MDH).
Find more about the Transport Company of Morocco and read the latest economic news with our companion app Born2Invest.
TCM was heavily impacted by the corona crisis
The TCM reminds, moreover, that during the second quarter of 2021, it proceeded, mainly, to the renewal of a part of its fleet, for an envelope of $4.5 million (40 MDH). From an operational point of view, the management of the Transport Company in Morocco is confident of a return to normal activity “thanks to the efforts made by the authorities in the fight against the pandemic and particularly the smooth running of the vaccination campaign”, it is indicated in the company’s communication.
Last March, Réda Douihri, director of CTM’s support activities, told Les Inspirations ECO: “We have no visibility either at the national or international level.” However, the manager stressed that the outlook can only improve as the vaccination campaign progresses.
It must be said that CTM is one of the national operators which have been heavily impacted by the crisis and restrictions imposed by the state of health emergency. “The total shutdown of the coaches lasted three months. During the 102 years of existence of the group, we have never experienced such a situation. It was a difficult period for our drivers and network staff, but today they are more serene, with the gradual resumption of activity,” testified CTM’s director of support activities. At the end of 2020, the national road carrier had announced a social turnover down by 50.8% to $29.4 million (262 MDH).
(Featured image by Free-Photos via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in LesEco.ma, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 21]
With car prices predicted to tank, there's an opportunity for affiliates to cash in big. To learn how, all you...
Miwendo Opens Round of €4 Million after Capturing €1.6 Million from Health
In November, Miwendo developed a first clinical study, and will now work on a second, both at the Hospital Clínic...
Coinbase Signs License Agreement to Provide Liquidity and Custody Services with Bitpanda
As Coinbase begins its European expansion, the licensing agreement with Bitpanda serves as a strategic move to capitalize on opportunities...
P&G SGR and UpsideTown Launch Energy Town Fund Dedicated to Renewables
EnergyTown represents an innovation in terms of the target for raising funds on a fintech platform: the first round that...
Cape Verde PM Asks Banks to Change Perception of Financing in Agriculture and Fisheries
POSER was funded at a cost of $36.9M by the Government of Cape Verde, the International Fund for Agricultural Development...
Crypto6 days ago
The Number of Crypto Owners in Turkey Increased by 27%
Cannabis2 weeks ago
Bavaria Wants to Stop Cannabis Legalization in Germany
Crowdfunding3 days ago
Startup Geeks Closes Campaign on CrowdFundMe Raising €945,000
Africa1 week ago
The AfDB, civil society, and the Burkinabe Government in Consultation