Consolidated turnover at the end of September 2022 amounted to 7,899 Mdh, up +15.5% compared to the same period of the previous year. This development is mainly driven by the growth in export turnover. Export sales recorded a volume of 570 Kt at the end of September 2022, against 483 Kt at the end of September 2021.
In Q3 alone, revenue is 2.8 billion dirhams, compared to 2.4 billion in Q3 2021.
The group reports that the sugar campaign is characterized by a rainfall deficit and a very low filling rate of the dams, but which have been mitigated by the continued efforts of the Cosumar teams with the support of institutional partners and local authorities. Thus, the balance of white sugar production from the agricultural campaign amounts to 321 Kt in 2022, i.e. a drop of 17% compared to the previous campaign.
We should also point out the increase in the Group’s energy bill linked to the historic surge in fuel prices on the international market. Major efforts to improve energy efficiency have been put in place to partially mitigate the impact of the increase in consumable prices.
The investments recorded at the end of September 2022 amount to MAD 220 million, and mainly concern the continuation of upgrades and maintenance of the industrial tool.
The Cosumar Group’s net debt stood at 167 Mdh at the end of September 2022, compared to 403 Mdh at the end of December 2021.