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Societe Nationale d’Electrolyse et de Petrochimie SA: SNEP – Financial results for the first half of 2022


SNEP’s board of directors met on 09/21/2022, under the chairmanship of Ms. Mama TAJMOUATI, to approve the accounts as of June 30, 2022, and to examine their achievements.

SOCIAL ACCOUNT

Sustained demand for vinyl and electrolysis products, combined with a dynamic commercial policy, led to an improvement in half-year 2022 sales of 20.6% compared to the first half of 2021.

Half-year revenue as of June 30, 2022, stands at MAD 623.6m.

Thanks to operational control and optimization of supplies, SNEP achieved an operating profit of MAD 118.13m up from 34.8%.

The net result thus amounts to MAD 66.4mincreasing by 20.9% compared to the first half of 2021.

CONSOLIDATED ACCOUNTS

The SNEP group’s consolidated net income for the first half of 2022 stands at MAD 61.7man improvement of 33%compared to the first half of 2021.

OUTLOOK

The second half of 2022 is part of a difcult international political and economic context, which is characterized by a disruption in demand and selling prices.

In this context, SNEP remains attentive to the evolution of market conditions and plans, in accordance with the schedule, the start of the production entry tests of its new facilities, during Q4 2022.



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