Auto Hall: Net profit falls by 36% in 2023


The Moroccan automobile group, Auto Hall, achieved a net profit of 170 million dirhams (MDH) for the 2023 financial year, down 36% year-on-year.

This decline is due to the drop in margins combined with the unfavorable evolution of exchange rates and the increase in financing costs, explains Auto Hall in a press release published on the website of the Moroccan Capital Market Authority (AMMC) .

Regarding the group’s consolidated turnover (CA), it stood at 4.91 billion dirhams (billion dirhams), up 1.7% compared to 2022, thanks to the successful diversification of the brand portfolio and the development of different growth drivers.

However, the continuation of investment and development efforts during this year, combined with the limited impact of the increase in vehicle costs, impacted the group’s margin levels with earnings before interest, taxes, depreciation and amortization (EBITDA ) of 8.9%, compared to 9% in 2022.

In terms of prospects, Auto Hall assures that its strategy, focused on the diversification of its vehicle offering, the targeted expansion of its network and the development of high value-added activities should make it possible to return to growth in results in the short term. and in the medium term, supported by optimal cost management and effective performance monitoring, thus guaranteeing the profitability and financial solidity of the group.

Auto Hall will also continue the development and optimization of its distribution network with dynamic management of its real estate assets.

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