Slide 1: 2023 annual results
2023 annual results May 24 Communication financière Publication semestrielle Octobre 2016
Slide 2: Company at a glance: the leading port operator in Morocco
2 Company at a glance : the leading port operator in Morocco #1 24 56,9 MT 2,6 M 4,3 MMDH 2 323 The leading port Terminals Total Volume TEUS handled Women & Men Consolidated operator in handled revenue Morocco 10 Ports of which one is a Hub
Slide 3: Shareholder structure
3 Shareholder structure Ownership structure Consolidation scope Tanger Alliance Pool of 3 investors 50% +1 action 10% TC3 T-MED II TMSA 35% TC3PC Moroccan State MARSA 25% MAROC 100% GROUP TC3 Casablanca SMA Free Float 51% 30% TQNA Agadir
Slide 4: Main milestones
4 Main milestones • MARSA Maroc Listed on the • Creation of the Casablanca Stock Commissioning of terminal company SODEP Exchange TC3 in the port of Tanger operating under the • Commissioning of Med brand name of MARSA terminal TC3 port Maroc since 2007 of Casablanca & a Acquisition by Tanger • Sign
Slide 5: National footprint
5 National footprint Cargo breakdown FY23 31% Tanger 10 PORTS 1 Nador 5% WORLD CLASS HUB Al Hoceima 8% Mohammedia 27% 56 Casablanca 11% CRANES Jorf Lasfar 5% Safi 2,2 MILLION 11% Agadir SQM OF YARD 20 1% Laâyoune SHIP-TO-SHORE CRANES 10,2 KM OF QUAY 1% Dakhla Accessibility to 100% of Morocco‘s hinte
Slide 6: Business model
Business model Stevedoring Stevedoring:Storage Track loading/Unloading Entry/Exit of the port Maritime services: Handling on board & at Other services: Steering, towing, dock, storage, pointing, Goods’ unloading and boatage…. Weighing, container’s stacking, trucks stuffing & unloading. loading and u
Slide 7: Market Overview
Market Overview Activity evolution Financial Overview
Slide 8: Global national traffic
8 Global national traffic Evolution of total traffic coastal Bunkering shipping 4% 1% CAGR T/S 19-23 : +18.5% CAGR export 19-23 : 0.8% CAGR Import 19-23 : -1.4% In thousands of tons +7.4% 191 209* 195 Export 17% 170 152 +14% 81 85 97 62 Transhipment 49 46% 38 41 43 35 +3% 36 Import 32% 65 67 67 66 +
Slide 9: Activity evolution
Market Overview Activity evolution Financial Overview
Slide 10: 2023 main updates
2023 main updates Corporate governance On Friday May 19, 2023, His Majesty King Mohammed VI appointed Mr. Tarik El Aroussi Chairman of the Board of Société d'Exploitation des Ports, at the proposal of the Head of Government and on the initiative of the Minister of Equipment and Water. May 2023 MSCI
Slide 11: New strategic roadmap
11 New strategic roadmap Strengthening the competitiveness of port activities and acquiring new concessions in Morocco Integrating the logistics and maritime value chain in Morocco Strategic Internationalization of Marsa Maroc's activities roadmap Developing expertise in port and logistics activitie
Slide 12: Overall handled traffic: a leader in Morocco
12 Overall handled traffic : a leader in Morocco Traffic handled by Marsa Maroc In thousand tons 2020-2023 CAGR: +16.9% 56 936 +13.0% 47 203 +6.7 % 50 383 • Handled traffic up 13%, driven mainly by container traffic +32.2 % (+24.5%) and dry bulk traffic (11.3%) 35 654 • Excluding the contribution of
Slide 13: Key driver change in containers
13 Key driver change in containers 3 000 2,571 Total Import/Export : 1 088 thousand TEUs 7 In thousand TEUs 2 500 24.5 % Total Transhipment : 1 484 thousand TEUs 2,065 6 1,907 2 000 2020-2023 CAGR: +40.8% +8.3% 8 1 553 1 500 1 157 +106.9% 934 1 000 921 10 150 174 173 178 500 792 861 738 724 0 2020 2
Slide 14: Key driver change in dry bulk
14 Key driver change in dry bulk 2023 17 417 In thousand tons +11.3% 2022 15 646 -173 +742 +408 +108 +370 +125 -470 -142 +89 +110 2 905 2 732 In thousand tons 2 234 1 999 1 832 2022 2023 1 492 1 591 1 5691 677 1 486 1 116 1 247 1 372 1 362 1 050 908 830 919 538 648 Coal and coke Clinker Animal feed
Slide 15: Key driver change in liquid bulk
15 Key driver change in liquid bulk In thousand tons 2023 9 654 -6.7% 2022 10 351 • Decrease in liquid bulk traffic due mainly to lower fuel oil imports (-675 KT) following the recovery of LNG sourcing.
Slide 16: Key driver change in general cargo
16 Key driver change in general cargo In thousand tons 2023 2 457 -3.3% 2022 2 542 • Slight drop in general cargo traffic due to a decline in steel products (-124 KT), offset in part by the processing of new copper bundle traffic (+166 KT) handled at the port of Tangier Med.
Slide 17: Key driver change in vehicles
17 Key driver change in vehicles Trafic evolution Main drivers change In thousand units 102 • Stagnation of imports following a level of new car sales equivalent to 2022. -6.7% • Drop in SOMACA exports to Egypt from the port of 95 Casablanca (-6.7 thousand units). New vehicules 2022 2023 In thousand
Slide 18: Traffic split by port FY 2023
18 Tanger Nador 5% Traffic split by port FY 2023 30% Al Hoceima 8% Mohammedia 26% Casablanca 11% Jorf Lasfar Safi 5% Agadir 11% 2% Laâyoune 1% Dakhla
Slide 19: Financial Overview
Market Overview Activity evolution Financial Overview
Slide 20: Evolution of revenue
20 Evolution of revenue Consolidated revenue Breakdown of revenue by companies 2020-2023 CAGR: +16.1% In MAD mn In MAD mn 4 320 +9.4 % 4 320 3 949 +10.0 % 3 949 3 592 1 040 3 592 +22% +30.3 % 855 678 189 2 757 2 757 195 -3% 175 744 158 649 543 676 +15% +4% 2 251 2 347 2 056 2 063 2020 2021 2022 2023
Slide 21: Evolution of consolidated operating expenses
21 Evolution of consolidated operating expenses Operating expenses In MAD mn 5.5% 2 663 2 809 2022 2023 Purchases and external expenses Staff cost Depreciation and operating provisions +9% +6% +2% 1 403 1 293 812 521 529 765 2022 2023 2022 2023 2022 2023 • Increase in purchases and • Salary increase
Slide 22: Sound Financials
22 Sound Financials EBITDA Operating income 2 600 In MAD mn 80,0% In MAD mn +15% 75,0% +21% 2 084 1 700 1 555 50,0% 2 100 1 884 70,0% 1 500 1 363 45,0% 65,0% 1 300 40,0% 1 600 60,0% 55,0% 1 100 35,0% 36,0% 900 34,5% 30,0% 1 100 50,0% 47,7% 48,2% 45,0% 700 25,0% 600 40,0% 500 20,0% 35,0% 300 15,0% 10
Slide 23: Investments plan
23 Investments plan Investments per categories In MAD mn Investissements 2022 2023 Equipments 367 310 Infrastrctures 91 189 Studies & others 19 23 Total 477 522 Investments per companies Tanger Alliance In MAD mn SMA MAD 20 mn MAD 3 mn TC3PC Mad 16 mn 3% 4% 1% Marsa Maroc MAD 483 mn 93%
Slide 24: Sound Financials
24 Sound Financials Financial structure Breakdown of net debt In MAD mn In MAD mn 2 983 2 685 1 744 1 119 904 264 2022 2023-24 2022 2023 -342 Total shareholders equity Net debt Dividends -2 032 -2 366 Cash Investment securities Corporate debt DPS : Mad 7.2 DPS : Mad 8.0 DPS : Mad 8.5 800 729 In MAD
Slide 25: Q&A
Q&A 19