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TAQA Morocco SA: Communication results on 30 June 2020



20/09/2020 | 12:09

TAQA MOROCCO

RESULT ON JUNE 30, 2020

IMPROVED IMPROVED PERFORMANCE

  • Continuously improved operational performance with a total availability of units 1
    to 6 which increased to 97.3%, compared to 96.1% on June 30, 2019,
  • Development of energy costs in line with the reduction of the price of coal on the international market,
  • Payment of the additional use rights for 1.5 billion dirhams in connection with the extension of the contract for the supply of electrical energy to units 1 to 4 until 2044,
  • Dividend of a dividend of MAD 36 per share on July 23, 2020, which corresponds to a dividend yield of 4.1%

.

The Board of Directors of TAQA Morocco, meeting on 16 September 2020, chaired by Abdelmajid Iraqui Houssaini, approved the corporate and consolidated financial statements on 30 June 2020 as follows:

CONSOLIDATED ACCOUNTS

I Mdh

June 30, 2020

June 30, 2019

Variation

% Change

Revenue

4 016

4 512

-496

-11%

Operating profit

1100

1 243

-143

-11%

Financial results

-258

-257

0

0%

Net earnings (**)

535

659

-123

-19%

Of which Net profit – Share in the group

428

507

-79

-16%

Of which the minority interests

107

151

-44

  1. -29%As of June 30, 2020, JLEC 5 & 6 accounts considered for consolidation correspond to the closure of 1 is

October 2019 to 31 March 2020, in accordance with the consolidation methods adopted by the TAQA Morocco Group. The significant operations during this period relate to the completion of the major review of unit 5 with an impact on the Group’s net profit of MAD 150 million.

  • On June 30, 2020, the operational performance has improved and is as follows: A availability from units 1 to 4 up to 97.3% against 97%
  • June 30, 2019, A availability of units 5 and 6 amounting to 97.2% against 94.4%
  • on June 30, 2019 due to the planned closures of units 5 and 6 2019 being completed in accordance with the maintenance plan as well as improved operational efficiency. A The Group’s sales
  • which is 4.016 million dirhams against 4512 million dirhams on June 30, 2019, mainly due to:
  • the completion of the planned major overhaul of Unit 5 in 68 days during the fourth quarter of 2019 in accordance with the maintenance plan;
  • the reduction in energy costs following changes in the purchase price of coal on the international market.
  • the good operational performance of all units. A The Group’s operating profit

which amounts to 1100 million dirhams against 1243 million dirhams on 30 June 2019 after the completion of the planned major audit of unit 5. Saw it the Group’s operating margin developed from 27.5% on June 30, 2019 at 27.4%

  • until 30 June 2020. ANet profit, group share

from 507 MDH to 428 MDH as of 30 June 2020, which is mainly explained by the change in operating profit affected by the completion of the major planned revision of Unit 5 and the stability of the financial result after the combined effect of interest expenses related to the financing of the additional usufruct and the repayment effort for the period. This results in a consolidated net margin of 13.3% on 30 June 2020 against 14.6%

from 30 June 2019.

BALANCE SHEET INDICATORS – CONSOLIDATED ACCOUNTS

Capital on MAD 6 266 billion

A balanced capital structure

Slightly changed given the drawdown of the related debt

55% gearing

payment of the additional right of use and

benefits for the period

WCR of 958 MDH

A controlled working capital requirement

PERSPECTIVE

TAQA Morocco has successfully completed the issue of a private bond loan of 2.7 billion dirhams to qualified investors. An operation that enables TAQA Morocco to optimize its debt costs and diversify its sources of financing to support the diversification of TAQA Morocco’s energy mix in Morocco and Africa.

With its operational expertise and based on a resilient business model, TAQA Morocco is actively committed to achieving the operational and financial goals for 2020.

Based on the share price on September 9, 2020 Abu Dhabi National Energy Company (TAQA) TAQA MOROCCO – Limited company with board and supervisory board • Head office: Km 23, secondary road 301 – Municipality My Abdellah province El Jadida – Centrale Thermique Jorf Lasfar – BP 99 Sidi Bouzid – El Jadida – Morocco • Tel. : +212 523 38 90 00 – Fax: +212 523 34 53 75 Contact: fi nance@taqamorocco.ma

Find the financial agenda at

www.taqamorocco.ma

To read the rest of this noodle, you can check out the original version here. warning TAQA MOROCCO SA published this content on September 18, 2020

and is solely responsible for the information in it. Distributed by the public, unedited and unchanged, on
18 September 2020 10:09:04 UTC

USD EUR
CA 2020
7 835 M
850 M 717 M
Net result 2020
644 M
69.9 M 59.0 M
This stylish 2020
8 995 M
976 M 824 M
PER 2020 29.3x
2020 return 3.77%
Capitalization
20 640 M
2 235 M 1890
VE / CA 2020 3.78x
VE / CA 2021 3.89x
Nbr employs 481

Liquid

14.2%

10 years

Week

TAQA Morocco SA: Technical Analysis Diagram for TAQA Morocco SA | Stock market

TAQA Morocco SA: Technical Analysis Diagram for TAQA Morocco SA | Stock market Technical analysis trends TAQA MOROCCO SA Court Terme
Medium term Long Term Trends Bullish

Neutral

The development of the profit and loss account

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Consensus

Sale Purchase
Average recommendation ALLEGER
Number of analysts

3

Average price target

894.00 MAD

Latest final course 875.00 MAD
Gap / Target High 4.00%
Deviation / average goal 2.17%

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