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Taqa Morocco. Profit growth at the end of September



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This performance is partly due to the improvement in the financial result of the operator after the repayment of his loans. The net margin, on the other hand, is in a slippery year.

Taqa Morocco confirms the solidity of its operational and financial fundamentals at the end of the third quarter of 2018, despite a context marked by rising energy costs as a result of the evolution of the purchase price of coal on the international market, coupled with the depreciation of the dollar dirham. The national electricity producer has thus managed to achieve a significant improvement in operational performance, taking advantage of the good performance of all units 1-6, whose overall availability rate increased by 3.5 points to 94.6%. .

In detail, the availability rate of units 1-4 reached 93.8% compared to 91.8% in the same period in 2017, considering the completion of the minor revision of Unit 4 on 30 September 2018 and the major revision of Unit 3 at September 30, 2017, in accordance with the maintenance plan. As with Unit 6, which also saw a minor revision in 2017. The availability rate for Units 5 and 6 improved to 96.2%, compared with 89.7% on September 30, 2017. The result is a figure of consolidated business of 7.5% to 6.42 billion dirhams.

From an operational point of view, operating income was 1.99 billion dirhams, 2.4% higher than in the same period last year, reaping the group's ongoing efforts to optimize operating and maintenance costs. However, the operating margin decreased by 1.6 percentage points to 31% at the end of September 2018. Finally, net income, group share, increased by 4% to MAD 767 million, driven by improved financial results. as a result of lower interest expense on loans. Under these circumstances, its net consolidated margin is 0.5 to 16.2%. Consolidated net income, on the other hand, increased by 4% to over 1 billion dirhams, compared to the same period of the previous year.

In terms of its outlook, the group intends to implement the necessary actions to achieve its 2018 strategic goals, thanks to its efforts to optimize its availability, strong industrial fundamentals and the expertise of its teams. Moreover, the fourth quarter will be marked by the completion of the major Unit 2 revision for an estimated 42-day period, in line with the maintenance plan.

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