This article was automatically translated from HIBAPRESS, the Arabic version:
HIBAPRESS-RABAT-MTL Mr. Abdessamad KAYOUH, Minister of Transport and Logistics chaired, in Rabat, the work of the meeting of the Board of Directors of the National Railway Office (ONCF), devoted to the examination probable results for the 2024 financial year and the approval of the 2025 budgets.
In his opening remarks, the Minister highlighted the development experienced by the national railway sector under the leadership of His Majesty King Mohammed VI, May God Assist Him, over the last two decades through the implementation of structuring projects which have made it possible to reposition Moroccan rail as the main vector of sustainable, low-carbon mobility with undeniable socio-economic impacts for the community.
For his part, Mr. Mohamed Rabie KHLIE, Director General of the ONCF recalled that the year 2024 was marked by the signing under the Presidency of His Majesty King Mohammed VI, May God Assist Him, on the occasion of the state visit of the President of the French Republic, important agreements between Morocco and France, including that of the acquisition of 18 new high-speed trains, with a view to extending the line to Grande Speed from Kenitra to Marrakech.
Subsequently, the Director General of the ONCF presented an overview of the past year before detailing the budgets for the year 2025 and the hypotheses used in their development.
The year 2024 confirms the consolidation of the good economic and commercial performances recorded by the Office and marks an important step in the realization of the Office’s new development cycle. Thus, the year 2024 ended with exceptional growth. With cumulative records in more than one way: the milestone reached of 55 million travelers who chose the train for their travels, i.e. + 4% compared to last year. A confirmation of the attractiveness of Al Boraq and the sustained growth of the High Speed activity, in line with forecasts, having recorded more than 5.5 million passengers transported, i.e. + 45% compared to 2023.
As for the goods activity, it stood out during the year 2024, with an exceptional performance, despite the international situation marked by economic disruptions and volatility in the prices of raw materials, with 20 million tonnes of goods transported, an increase of 17% compared to 2023.
The Office’s probable overall turnover for 2024 will exceed 4.7 billion Dirhams, thanks to the continued development of the Passenger activity and the good recovery of the Phosphates activity, an increase of + 9% compared to 2023.
Furthermore, the ONCF is continuing its efforts to control operating costs, despite a context marked by continued inflation in the prices of materials and energy. Thus, the Office should generate a probable EBITDA for 2024 of 1.8 billion DH, an increase of 9% compared to the year 2023, i.e. more than double the level recorded in 2019 (1st year of commissioning of the projects of the last development cycle), reflecting the excellent performance of the ONCF.
Regarding the 2025 budgets, they were developed on the basis of the guidelines of the Government circular relating to the draft finance law 2025, which aim to support the country’s economic growth and the development of investments while taking into account of the context of our country’s organization of the 2025 African Football Cup of Nations and the preparation of the organization of the 2030 Football World Cup. They are also in line with the spirit of mastery of expenses in the face of fluctuations linked to raw material prices and inflation. They are also a continuation of the exceptional performance recorded in recent years by the passenger and freight activities, while continuing to control expenses in the face of fluctuations and uncertainties linked to the prices of raw materials and inflation.
Thus, the 2025 budgets provide for continued growth in passenger activity with the objective of reaching 57 million travelers, an increase of 4% compared to the closing forecasts for 2024 and an increase in freight activity to reach of 21 million tonnes of goods.
The 2025 forecasts count on an increase in the transport of passengers and goods with the achievement of a historic turnover which would exceed 5 billion DH, recording an increase of 6% compared to 2024 and a forecast EBITDA of 1 .9 GDH, an improvement of 6% compared to the 2024 closing forecast.
In terms of investments, the focus was on the effective launch of the Office’s new development cycle, focused on structuring projects for 2030: extension of the high-speed line to Marrakech, deployment of a new RER type local service in the main regions of Morocco, acquisition of new trains, construction of new stations… These structuring projects will make it possible to strengthen the positioning of rail as the backbone of sustainable mobility in the Kingdom, particularly in the perspective of the future 2030 World Cup which will be organized by our country.
At the end of the session, the members of the Board of Directors congratulated all of the Office’s employees for the commendable efforts made to achieve the objectives and the effective contribution to the anticipation of sustainable mobility.
At the end of this meeting, the members of the Board of Directors sent a message of fidelity and loyalty to His Majesty King Mohammed VI May God Help Him.
