The Moroccan group Managem recorded solid performance in 2024, driven by rising precious metal prices, particularly gold and silver.
The Moroccan group Managem’s revenue reached nearly MAD 4 billion (about €360 million), marking an 18 per cent increase, compared to 2023.
This growth is attributed to the increase in gold prices (+23 per cent) and silver (+21 per cent), amid global geopolitical tensions and the search for safe havens, as well as to increased sales volumes, including copper.
Imad Toumi, CEO of Managem, highlighted several major developments, including the discovery of over 600 tonnes of silver reserves in Morocco, ensuring production visibility for the next 12 years.
He also discussed the planned doubling of copper production via the Tizert project, as well as prudent management of cobalt, with reduced volumes in response to a depressed global market.
EBITDA increased by 11 per cent to MAD 2.65 billion (about €239 million), while net operating income reached MAD 620 million (about €56 million), an increase of 18 per cent, said Mouna Mahfoud, the group’s Executive Director of Finance.
In addition, Managem raised MAD 3 billion (about €270 million) through a successful capital increase, demonstrating investor confidence.
The group generated 60 per cent of its revenues internationally, with a balanced distribution between its various activities. It has also strengthened its assets, notably with the acquisition in December 2024 of a gold deposit, intended to support its production strategy, with a target of more than 500 million dirhams (about €45 million) by 2030.
Managem’s strategy, which combines diversification, anticipation of raw material cycles, and alignment with strategic sectors such as automotive and batteries, appears to be strengthening its resilience.
SL/te/Sf/fss/gik/APA