Cosumar’s consolidated turnover down slightly


Cosumar’s consolidated turnover reached 10.23 billion Dirhams at the end of December 2023, down slightly by 1.9% compared to the same period of the previous year.

This development is explained by the withdrawal of sales volumes available for export, indicates Cosumar on its financial results as of December 31, 2023, noting that sugar sales on the local market recorded a slight increase of 0.4% compared to to 2022.

Furthermore, the balance of white sugar production from the agricultural campaign amounted to 224 kilotons (kt) in 2023 compared to 321 kt during the previous campaign.

Cosumar recently sold its entire stake in the company Durrah to Wilmar Sugar

Regarding the Group’s net debt, it stood at 1.45 billion DH in 2023. This drop of 19% compared to the end of September 2023 was noted despite the increase in raw sugar prices on the international market impacting the outstanding balance of the Compensation Fund.

In 2023, investments made amount to 242 million Dirhams and mainly concern the continuation of upgrades and maintenance of industrial tools.

In terms of prospects, Cosumar reports the finalization of sugar cane and sugar beet planting operations for the 2023-2024 campaign despite the difficult economic situation, thanks to the mobilization of the Group and the entire the agricultural ecosystem.

Cosumar also ensures that it maintains its efforts and implements all necessary means for the smooth running of the 2023-2024 sugar campaign and for better productivity and profitability of its farmer partners.

The Group also affirms that it will continue to work to contribute sustainably to the country’s food sovereignty and to deploy all efforts to ensure a normal supply of sugar to the national market.

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