The port operating company, Marsa Maroc, recorded financial results in clear progression for the 2024 financial year, reflecting a year marked by record operational performance and a sustained strategic dynamic. Meeting on March 17, 2025, the Board of Directors validated the annual accounts, highlighting a solid growth in traffic, a significant improvement in profitability and significant advances in the deployment of the group’s development plan.
Strong growth indicators
As of December 31, 2024, the total volume of traffic handled by Marsa Maroc established 63.3 million tonnes, up 11 % compared to the previous year. This increase enabled the group’s turnover to cross the 5 billion dirhams for the first time, reaching precisely 5.008 billion dirhams, or growth of 16 %.
This dynamic resulted in a substantial improvement in profitability. The gross operating surplus (EBE) appreciated 26 % to stand up to 2.624 billion dirhams, carried by a rigorous management of operating expenses. The group share of the group (RNPG), on the other hand, amounted to 1.267 billion dirhams, up 49 % over a year. These results confirm Marsa Maroc’s ability to combine operational performance and value creation.
The group’s consolidation perimeter also evolved in 2024, especially in the third quarter, with the total integration of the SMA subsidiary whose participation increased from 51 % to 100 %.
Major strategic advances
The year 2024 marked a key stage in the execution of the Marsa Maroc strategic plan by 2030. The port operator has strengthened its positioning in Mediterranean transshipment through the signing of agreements for the exploitation of two terminals at the port of Nador West Med, in partnership with the MSC and CMA CGM shipowners, respectively first and third on a global scale. These installations, whose commissioning is planned from 2027, aim to increase the overall capacity for processing containerized traffic from Marsa Maroc to 9 million EVP, including nearly 7 million dedicated to transhipment.
At the same time, Marsa Maroc launched its first international operations with the start of its port activities in Benin, thus realizing a new step in its expansion strategy on the African continent.
On the national level, the company continued its efforts to modernize its terminals and strengthen its equipment park, in order to improve the quality of service and the competitiveness of Gateway traffic, for the benefit of the Moroccan economy.
A new strategic concession to Nador West Med
-In parallel, Marsa Maroc signed a concession agreement on the western terminal of the Nador West Med port. This port infrastructure, conceded for a period of 25 years, will include 1,440 meters of quays divided into two sections – one of 900 meters dedicated to containers and the other of 540 meters for various goods – on an area of 60 hectares. It will be equipped with eight quay gantry (STS), 24 park gantry (RTG) and four latest generation mobile cranes.
The first phase of the project will require an investment estimated at 280 million euros, co -financed with the partners of Marsa Maroc. The objective is to make this terminal a reference center in the Mediterranean basin for the treatment of maritime freight.
Diversification of professions: Development of towing
As part of the structuring of its towing business unit, Marsa Maroc concluded a strategic agreement with Boluda Towage France for the exploitation of towing and assistance activities at the Nador West Med port. The group was appointed awarded authorization for a period of 20 years from the last quarter of 2026. It provides for the creation of a joint venture responsible for the operation of this authorization and the acquisition of a fleet of four tugs for an amount of 45 million euros. The capital of this entity will be distributed up to 51 % for Boluda and 49 % for Marsa Maroc.
This operation will allow Marsa Maroc to expand its field of expertise in maritime benefits, a activity which it already exercises in seven Moroccan ports (Nador, Al Hoceima, Mohammedia, Safi, Agadir, Laâyoune and Dakhla).
An ambitious investment plan
To support these developments, Marsa Maroc plans to mobilize an investment envelope of around 16 billion dirhams over the next five years. This program will be funded by an recourse to debt, supplemented by the high generation of cash from the group and, if necessary, by contributions from its partners.
Building on these results, the board of directors will propose to the ordinary general meeting the distribution of a dividend of 9.5 dirhams per share under the financial year 2024, an increase of 12 % compared to the previous financial year.
National leader in port management with 25 terminals operated in 11 ports for total traffic of more than 60 million tonnes, Marsa Maroc confirms its ambition to become a regional benchmark player, at the crossroads of maritime flows connecting Europe, Africa and the Arab world. Listed on the Casablanca Stock Exchange, the company benefits from the strategic support of its reference shareholder, the Tangier Med group.
(Publi-refactional)
