Maghreb Steel’s revenue increased by 54% in Q1 2021
Maghreb Steel’s sales increased by 39% in Q1 2021 to 124,000 tons, as the company indicated that this increase comes within Stronger shipments resulted from the continuing recovery of the national economy that began in Q4 2020, and had a positive impact on business performance during Q1 2021, As the company relied on the local market.
As for the value level, the company’s sales increased by 54% on annualised basis, tcoming to around MAD 1 billion ($114 million), as the company benefited from positive developments in the prices of products in global markets.
The company stated that “the improvement is due to the increase in sales volumes as well as the rise in steel prices at the national and international levels.”
The investments made by the company in Q1 2021 amounted to about 6 million dirhams, mainly related to the maintenance of production facilities.
$1 = 8.8949 MAD