SNEP improves its turnover by 2.3% in 2022 – Today Morocco

The turnover (CA) of the National Company of Electrolysis and Petrochemistry (SNEP) amounted to nearly 1.11 billion dirhams (MMDH) for the past financial year, up by 2, 3% compared to 2021.
For the fourth quarter of 2022, turnover reached 262.4 million dirhams (MDH), down 17% compared to the same period a year earlier, said SNEP in a financial press release.
This development, mainly due to a 39% drop in the selling price of PVC, was slightly dampened by the dynamic sales of electrolysis products, specifies the same source.
In terms of investments, the company announces that the expansion project aimed at increasing the annual production capacity to 90,000 t of PVC is “in the pre-start-up phase”, noting that the investments committed during 2022 amounted to 125 MDH. Mainly impacted by investment expenditure and the increase in the level of stocks of vinyl products, financial debt amounted to 411.3 million dirhams at the end of December 2022.