For the first half of 2020, SMI announces a turnover of 440 million dirhams, an increase of 4% compared to the same period last year, which is explained by the fact that silver production decreased by 12%, especially due to speed drops caused by the pandemic. But the company benefited from the strengthening of the silver price and the dollar exchange rate.
EBITDA increased by 8% to 210 MDH while REX decreased by 1 MDH to 59 MDH against 60 MDH during the first half of 2019.
The financial result is -1
Finally, the net profit amounted to MAD 61 million, an increase of 33% compared with the first half of 2019.
* Update: Net profit increased by 33% instead of 35%. The rest unchanged.