Lydec: 5.9% drop in turnover at the end of June 2020

The turnover (CA) of Lydec, in charge in particular of the distribution of water and electricity in Grand Casablanca, fell by 5.9% to 3.38 billion dirhams (billion dirhams) at the end of June 2020.

By business line, electricity revenue fell 8.5% (volumes sold down 8.6%), while drinking water revenue grew 3.9% (volumes sold up 3.8%), Lydec said in a press release.

For the first six months of 2020, Delegated Management’s investments fell by 2.7% to MAD 374 million (MDH) and the level of net debt amounted to MAD 1.8 billion, in increase of 66% compared to the end of June 2019, impacted by the significant drop in sales and customer receipts due to the measures taken at national level during the confinement period.

During the 2nd quarter of 2020, Lydec’s sales amounted to MAD 1.7 billion, down 8.4% compared to Q2-2019, impacted by the drop in fluid sales of 10.1 billion. % linked to the negative impacts of the new coronavirus (covid-19) pandemic on activity.

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