Lydec: A turnover up to MAD 7.59 billion

Hibapress

Lydec achieved a turnover (CA) of 7.59 billion dirhams (billion dirhams) for the year 2023, up 2.9% compared to 2022.

This development is explained by the increase in fluid sales as well as the increase in revenue from works and project management, indicates Lydec in a press release on its 2023 financial results.

In detail, electricity turnover stands at MAD 4.67 billion, up 1.7% compared to the previous year, with volumes sold up 1.7%, mainly explained by the increase in sales to licensed customers.

Drinking water turnover reached MAD 1.39 billion, up 2.3% compared to 2022.

Furthermore, the gross operating surplus stood at 1.06 billion dirhams, an increase of 58 million dirhams (MDH) compared to 2022, mainly explained by the good performance of fluid sales and third-party work.

Taking into account these elements, the net profit at the end of December 2023 amounts to MAD 38 million, up by MAD 27 million compared to 2022.

Delegated management investments for the year 2023 amount to MAD 1.06 billion, including MAD 317 billion financed by the delegatee.

The level of net cash at the end of December 2023 reached MAD 456 million, an improvement compared to the previous year, mainly due to the reduction in debt and the improvement in the company's recovery.

For the year 2024, intends to continue its mobilization in order to secure the drinking water supply of Greater Casablanca, and to face the risk linked to water stress that Morocco is experiencing, as well as supporting the Development Plan of Greater Casablanca and investments in particular in rainwater sanitation infrastructure.

The company is also committed to constantly improving its relationship with its customers and modernizing its services, and to continuing to mobilize its teams for the finalization of the 2nd revision of the Delegated Management Contract.