Aluminum du Maroc announces a profit warning on its 2022 results

The company reports a strong pullback in demand since August 2022 after an encouraging first half. This drop in demand is due in particular to numerous projects postponed due to persistent inflation.

November 24, 2022 at 10:49 a.m.

Modified November 24, 2022 at 10:55 a.m.

The company reports a strong pullback in demand since August 2022 after an encouraging first half. This drop in demand is due in particular to numerous projects postponed due to persistent inflation.

In a communiqué published on its website on November 23, the company Aluminum du Maroc announces that following the board of directors meeting on November 21, 2022, the Aluminum Group of Morocco anticipates a Positive net income as of December 31, 2022, but down around 75% compared to net income as of December 31, 2021.

The group explains that after “the good performances recorded in the first half of 2022, at the end of which the group published encouraging results, the market has suddenly reversed with a sharp drop in demand since August 2022“.

The group justifies this drop by “the postponement of many projects in Morocco and abroad, given the high inflation of construction costs, but also the reduction in stock levels built up in times of material shortage, practiced by market players”.

November 24, 2022 at 10:49 a.m.

Modified November 24, 2022 at 10:55 a.m.