Metallurgical industry: Sonasid loses 24% of its RNPG in 2023

Hibapress

Sonasid’s net profit, group share (RNPG) stood at 65 million dirhams (MDH) for the 2023 financial year, recording a decrease of 24% compared to the previous financial year.

This negative development is explained by an unfavorable international context, as Sonasid indicates in a financial communication relating to its results for the year 2023.

At the end of December 2023, consolidated turnover (CA) amounted to 4.99 billion dirhams (billion dirhams), recording growth of 2% compared to 2022.

Investments made within the consolidation scope reached MAD 219 million at the end of December 2023, an increase of 54% compared to 2022. This reinforced investment effort mainly concerned operational excellence and the development of new products.

On a social level, Sonasid’s turnover was MAD 4.90 billion in 2023, up 1% compared to the same period in 2022, supported by sales volumes increasing by 9% in 2023, which enabled to offset the impact of the downward price trend on turnover.

The financial result stood at -6 MDH in 2023, an improvement of 15 MDH compared to 2022, thanks to good control of the exchange balance, while the social net result stood at 79 MDH, down. 34% compared to the previous year.

Furthermore, Sonasid claims to maintain a solid and resilient balance sheet structure, with excess cash, including securities and investment values, of MAD 756 million at the end of December 2023.

Concerning dividends, the Board of Directors will propose to the General Meeting of Shareholders the distribution of a dividend of 21 dirhams (DH) per share, for the 2023 financial year.

In terms of outlook, the Sonasid Group is committed to maintaining a sustainable economic model, benefiting from new growth opportunities.

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