SNEP: An improvement in turnover at the end of September

In Q3 2022 alone, consolidated revenues contracted by -11.3% in yoy to 221.4 MDH compared to Q3 2021 (against 312.8 MDH in Q2 2022, a drop of nearly -29.2% sequentially) penalized mainly by the decline in market demand in the vinyl business combined with a drop in selling prices compared to the same period a year earlier. Regarding investments, SNEP posted a CAPEX down -45.5% to 66.3 MDH, while in Q3 2022 alone, the investment envelope was down by -58.6% to 19.2 MDH compared to Q3 2021.

Financial debt increased by +34% in ytd to 373.9 million dirhams, mainly following investment expenditure and the restocking of vinyl products. Consequently, the net indebtedness increases by +41.2% to 221.8 MDH.

Leave a Comment

Your email address will not be published. Required fields are marked *