2023-09-26 15:34:02
TGCC CONFIRMS THE SOLIDITY OF ITS GROWTH AND EFFICIENCY
OF ITS DEVELOPMENT STRATEGY
Strong growth resulting from a sustained production rate in Morocco and internationally Vigorous commercial dynamics strengthening the Group’s order book Remarkable operational performance, the result of a strategy focused on high value-added projects
The Board of Directors of TGCC met on September 25, 2023 under the chairmanship of Mr. Mohammed Bouzoubaa, with a view to examining the activity and closing the company’s accounts as of June 30, 2023.
Consolidated indicators in MAD
3 012
S1 2022
S1 2023
S1 2022
S1 2023
S1 2022
S1 2023
Exploitation product
EBITDA
Net income, group share
HIGHLIGHTS OF THE HALF YEAR AND ANALYSIS OF ACTIVITY
The first half of 2023 was marked by a high production rate for the TGCC Group. Operating income for the first part of the year reached MAD 3.0 billion, a substantial increase of 29% compared to the same period in 2022. This performance is the result of vigorous commercial dynamics and a development strategy focused on key sectors for Morocco’s economic growth, such as health and education. The international subsidiaries are also recording strong growth in their activities, resulting from the commercial efforts made: “Expansion and international anchoring are major axes of our strategic plan. The recent creation of a new subsidiary in Libya is a concrete example,” declared Mr. Mohammed Bouzoubaa, Chairman and CEO of TGCC.
During the first half, TGCC achieved several commercial successes and promisingly consolidated its order book, which reached a historic level of MAD 8.3 billion at the end of June 2023.
With the emphasis placed on projects with high added value combined with control of margins on purchases, the Group’s EBITDA reached MAD 298 million, recording exceptional growth of 38% compared to the first half of 2022.
The group’s net profit stands at MAD 122 million, a significant increase of 30% compared to the same period in 2022.
PERSPECTIVES
For the second half of 2023, TGCC plans to maintain its growth momentum while preserving its profitability. The Group will also continue to implement its strategy of integration and diversification of its activities as well as the extension of its international network.
About TGCC
A global player in public industrial works and construction, TGCC (Travaux Généraux de Construction de Casablanca) has been building buildings in several sectors for over 30 years: health, hospitality, commercial, industrial, administrative and residential. With more than 13,000 employees in Morocco and sub-Saharan Africa, TGCC is today a national leader and has to its credit more than 1,000 large-scale projects and works completed.
Financial communications contact
Fatima-Zahra Bouzoubaa Administrative & Financial Director [email protected] +212 522 23 88 93 / 94 / 95
1695753183
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