Cement sales in Morocco reached MAD8.1 billion, up 17% by the end of 2021, following the rebound from the COVID-19 effects in the construction and public work sectors nationwide.
The strong demand for cement enabled LafargeHolcim, the national leader in the building materials sector to record a noticeable growth in turnover of about 17% to reach MAD8.1 billion by the end of 2021, compared to MAD6.9 billion recorded a year earlier.
According to the company’s financial results, the good performance has led to a decrease in its net debt by about 17%, dropping from MAD6 billion dirhams to MAD5 billion by the end of 2021.
Additionally, the ‘Cement Maroc’ company totaled a turnover of about MAD3.6 billion by the end of 2021, representing an increase of 9% compared to 2020.
The same company made significant investments in the last quarter of 2021, amounting to MAD112 million, an increase of MAD79 million compared to the same period in 2020.
The Ministry of Economy and Finance’s recent data for February showed that the construction and public projects sector recorded its highest gains by the start of the current year after it ended 2021 with a good performance.
Cement sales, the main indicator of the construction and public works sector increased by 8.8% by the end of January 2022, after an increase of 14.8% by the end of 2021, according to the Ministry’s data.
As for financing transactions in this sector, loans allocated to real estate by the end of 2021 maintained the same growth rate recorded in 2020, set at 2.7%, totaling nearly MAD292 billion, following the increase in housing loans by over 4.9%.
By the end of this period, the Real Estate Investment Companies showed a slight increase of 0.03% in the Casablanca stock exchange’s weekly performance, while the building and construction materials sector index showed a sharp decline of 6.37%.
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