The group is showing good growth and indicates that it has obtained several marketing authorizations in Morocco and abroad. EBITDA increased by 10.5% and debt remained stable. A partnership with a Saudi player has been signed to diversify exports.
The group shows at the end of September a turnover of 1,673 MDH, up 10.6% compared to the same period last year.
This stems in particular from the increase in Sothema’s private market sales (+8.9%), the improvement in Sothema’s public market sales (+14%) and shaping activity (+12%), as well as the entry into service of the Axess-Pharma subsidiary and the continuation of WAPH’s achievements (Senegalese subsidiary, editor’s note). This dynamic led to a 10.5% increase in consolidated EBITDA to 407 million dirhams.
Investments reached 33 MDH at the end of September, aimed at improving production capacities and operational improvement.
Net debt stands at 271 MDH, globally stable compared to the same period in 2021.
Concerning the subsidiaries, the group notes that Axess is starting its commercial activity and recording its first turnover outside the group. WAPH is continuing its growth and commercial development, benefiting from its good positioning on the Senegalese market.
The group indicates that it has obtained 12 marketing authorizations (marketing authorization, editor’s note) in Morocco during 2022. This achievement is in line with the strategic objectives aimed at accelerating and enriching Sothema’s Mix-Product offer. At the international level, Sothema obtained 24 marketing authorizations at the end of Q3-2022, distributed between Africa and the Middle East, to consolidate its international presence.
Sothema also announces the diversification of exports, via the signing of a commercial partnership with a partner in Saudi Arabia.