Afriquia Gaz: Turnover down 13.2% in 2023

Hibapress

The consolidated turnover (CA) of Afriquia Gaz amounted to 8.25 billion dirhams (billion dirhams) for the 2023 financial year, down 13.2% compared to 2022.

This variation is attributable to the drop in the recovery price, indicates Afriquia Gaz in a press release on its activity indicators for the fourth quarter (Q4) 2023.

For Q4-2023 alone, turnover recorded an increase of 1% to MAD 2.05 billion compared to the same period of the previous year.

As for consolidated investments, they fell by 8% in 2023, going from 497.3 million dirhams (MDH) in 2022 to 457.7 MDH.

For Q4-2023, consolidated investments amounted to MAD 123.8 million, down 14.7% compared to the same period of the previous year.

Furthermore, the consolidated net financial debt of Afriquia Gaz stood at 347.5 MDH at the end of 2023 compared to 732.3 MDH a year earlier, while the net financial debt stood at -807.4 MDH respectively. against -143.7 MDH.

Regarding social indicators, Afriquia Gaz’s turnover for the 2023 financial year showed a drop of 14.4% to 8.14 billion dirhams, compared to 9.50 billion dirhams a year earlier.

The volumes produced for the year 2023 recorded an increase of 2.2% compared to the previous year, reaching 1.2 million tonnes (Mt).

At the end of December 2023, the amount of investments fell by 11.4% compared to the 2022 financial year, going from MAD 428.1 million to MAD 379.5 million.

In terms of prospects, Afriquia Gaz intends to continue its momentum and remains confident in its ability to improve its operational and financial ratios.

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