Casablanca – Marsa Maroc, a leading Moroccan port operator, has reported exceptional results for the fiscal year 2024, marking a period of significant growth and strategic expansion. The company’s performance was driven by a notable increase in handled traffic, strong financial results, and an expanding international footprint.

Strong traffic growth and revenue milestone

In 2024, Marsa Maroc handled a total of 63.3 million tons of cargo, reflecting an 11% year-on-year increase. This growth in traffic was a key factor in the company surpassing $500 million in revenue for the first time, with total sales reaching $515 million, a 16% rise compared to the previous year.

The company’s strong operational performance was also evident in its profitability. Marsa Maroc reported a 26% increase in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), which amounted to $270 million. This growth in EBITDA can be attributed to the company’s effective cost management strategies and improved operational efficiencies.

Significant growth in net income

Marsa Maroc’s net income saw a remarkable surge of 49%, reaching $130 million by the end of 2024. This strong profit growth reflects the company’s enhanced operational efficiency, robust management of costs, and its ability to generate higher margins despite a challenging global environment.

In addition to the revenue and profit growth, Marsa Maroc expanded its consolidation scope in the third quarter of 2024. The company increased its ownership stake in its subsidiary, SMA, from 51% to 100%, further solidifying its position within the port and logistics sector.

Strategic investments and international expansion

Marsa Maroc has continued to pursue a strategic expansion plan both within Morocco and internationally. The company has strengthened its position in Mediterranean transshipment by securing two terminals at the Nador West Med port, set to become operational in 2027. These terminals, which Marsa Maroc will operate in partnership with MSC Group and CMA CGM—two of the largest global shipping companies—are expected to significantly enhance Morocco’s status as a regional port hub.

The company’s international ambitions also include its recent expansion into the West African market. In 2024, Marsa Maroc began its operations in Benin, marking a key milestone in its international growth strategy. This expansion reflects the company’s commitment to diversifying its portfolio and increasing its global presence.

Investment in infrastructure and operational excellence

On the domestic front, Marsa Maroc has continued to invest heavily in its port infrastructure. The company has focused on increasing the capacity of its terminals and upgrading equipment to improve operational performance. These investments are part of Marsa Maroc’s broader strategy to support Morocco’s growing economy by enhancing the efficiency and competitiveness of its ports.

Over the next five years, Marsa Maroc has committed to an ambitious $1.65 billion investment plan. These funds will be allocated to modernizing port infrastructure, expanding terminal capacity, and improving the company’s technological capabilities to meet growing demand. The company aims to position itself as a key player in the global maritime and logistics sector, capitalizing on Morocco’s strategic location as a gateway between Europe, Africa, and the Americas.

Dividends and future outlook

Marsa Maroc’s board of directors has proposed a dividend of $0.98 per share for the 2024 fiscal year, which represents a 12% increase from the previous year. This proposal reflects the company’s strong financial performance and its commitment to delivering value to shareholders.

Looking ahead, Marsa Maroc remains optimistic about its future prospects. The company is focused on expanding its port operations and solidifying its position as a leading logistics and maritime partner in the Mediterranean and beyond. With continued investments in infrastructure, a strong international strategy, and a commitment to operational excellence, Marsa Maroc is well-positioned to sustain its growth trajectory in the coming years.

The year 2024 has been a landmark year for Marsa Maroc, marked by record financial results, significant strategic investments, and a growing international presence. As the company continues to strengthen its position both domestically and internationally, it is set to play an increasingly important role in Morocco’s economic development and the global maritime industry.