Morocco Transport Company Hits 35 million net revenue in 2013

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The Transport Company in Morocco (CTM) closed the year 2013 with very pleasing outcomes, which arose in an increase in all itsMorocco Transport accomplishment indicators, with a continued level of investment adding up to 150 million MAD (MDH), according to the CEO of the group.

On a presentation he conducted on a conference, the CEO explained that regardless of increases in fuel prices which follow and tighter competitive conditions in all segments of transportation provided by the CTM (passengers, mail and tourism), the group saw its consolidated revenues (CA) to advance 7.3% compared to 2012.

The good accomplishment of the CTM is also verified through the 49.4% rise in net income, Group share (NPGS), which reached 35 million dirhams in 2013 versus 23.5 million dirhams in 2012. He also noted that the debt ratio declined by 0.7% stayed at a manageable rank to 18.2%.

The official highlighted the development of nearly 11% of sales CTM SA in 2013 to 395.9 million dirhams, increased operating profitability with a 26% increase in gross operating profit (EBITDA) to 25.8 MDH.

Concerning operational indicators, the Group’s management has highlighted the increase of nearly 11% in the number of passengers carried in 2013 (3.1 million), rising lines (51), fleet (209) Workforce (931) and sales channels (274 against 261 in 2012).

In terms of highlights of fiscal 2013, the CEO of the group concentrated mainly on the signing of partnership agreements with Senegal and Mauritania for the opening of Nouakchott and Dakar lines, reconstruction of the park company by obtaining 30 buses and 39 coaches’ reform whose common age is between 6 to 7 years.

Mohamed Dekkak