Taqa Morocco: Net profit exceeds the billion dirham mark

Hibapress

The net profit group share (RNPG) of Taqa Morocco stood at 1.03 billion dirhams (billion dirhams) in 2023, down 20.4% compared to 2022.

This RNPG was impacted by an exceptional exchange loss following the evolution of the USD/MAD parity, indicates Taqa Morocco in a press release, adding that the net result fell by 19.5% to nearly 1.35 billion dirhams. Concerning the consolidated turnover, it decreased by 3% to 13.19 billion dirhams, following the drop in the price of coal on the international market and the good operational performance of the 6 units of the power plant. As a result, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of the company stood at 3.55 billion dirhams (-4.6%) to remain higher to its normative levels of previous years.

Investments increased by 35.7% to 328 million dirhams (MDH). These investments mainly include minor overhauls carried out at Units 1 and 5, as well as operation and maintenance projects.

In terms of prospects, Taqa Morocco affirms that it will continue to achieve its strategic priorities, including strengthening its operational excellence, maximizing the efficiency of production costs and implementing its strategy aimed at establishing a diversified portfolio of 1,000 MW additional capacity by 2030, in low-carbon energies and the development of seawater desalination.

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