Finally, profits on the increase
In the first half of 2015, the consolidated turnover was down 7.4% to MAD945.9M, due to the 9.9% decrease in sales volume to 309,174 hectoliters. The consolidated EBITDA decreased by 13.6% to MAD172.5M, representing an 18.2% EBITDA margin in H1 2015 vs. 19.5% in H1 2014. The consolidated operating income depreciated by 4.1% to MAD134.7M, reducing the operating margin by 40 bps to 14.2%. However, the Group’s net income increased by 16.1% to MAD84.5M.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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