▶ Sustained solid operational performance with an availability rate of 90.0%, factoring in a scheduled minor overhaul of Unit 6.
▶ Consolidated net income up 4.1%, driven by robust operational performance and improved financial result.
▶ Strategic partnership between the Moroccan government, TAQA Morocco, and Moroccan public and private stakeholders for the development of key power and water infrastructures in the Kingdom of Morocco.
CONSOLIDATED KEY FIGURES IN MMAD | ||||
March 31st 2025 | March 31st 2024 | Variance (in value) | Variance (in %) | |
Revenue | 2,943 | 2,959 | (16) | (0.5)% |
EBITDA | 989 | 1,032 | (43) | (4.2)% |
Operating Income | 789 | 822 | (33) | (4.0)% |
Financial Result | (65) | (110) | 45 | 40.6% |
Net Consolidated Income (*) | 379 | 364 | 15 | 4.1% |
Net Income, Group Share | 286 | 284 | 2 | 0.6% |
Minority Interest | 94 | 80 | 13 | 16.5% |
Investments (*) | 39 | 22 | 17 | 78.0% |
Net Debt (*) | 4,759 | 4,401 | 358 | 8.1% |
(*) As of March 31st, 2025, JLEC 5&6 accounts for consolidation correspond to the period from October 1st, 2024 to December 31st 2024, in accordance with the consolidation methods adopted by the TAQA Morocco Group.
STRONG OPERATIONAL PERFORMANCE IN Q1 2025The overall availability rate of Units 1 to 6 stood at 90.0% as of March 31st, 2025, compared with 93.5% a year earlier. This change reflects the completion of a scheduled minor overhaul on Unit 6, lasting 25 days, in line with the maintenance plan.
STABLE CONSOLIDATED REVENUE AND NET INCOME GROWTHConsolidated revenue amounted to 2,943 MMAD as of March 31st, 2025, remaining broadly stable compared to Q1 2024. This stability reflects the solid operational performance of Units 1-6.
Consolidated net income reached 379 MMAD, up 4.1% from 364 MMAD in Q1 2024. This increase is driven by improved to improved operating income and the optimization of cash surplus investments, underlining the Group's financial strength.
INCREASED INVESTMENT AND CONTROLLED DEBTAs of March 31st, 2025, TAQA Morocco undertook investments totaling 39 MMAD, an increase compared to the same period in the previous year. These investments are primarily allocated to operations and maintenance projects for the Units, in line with the Group's operational priorities. Net debt stood at 4,759 MMAD, reflecting proactive cash flow management in light of financing repayments made during the quarter.
CHANGES IN CONSOLIDATION SCOPETAQA Morocco's scope of consolidation remained unchanged compared to December 31st, 2024.
OUTLOOKAs part of its diversification strategy, on May 19, 2025, TAQA Morocco announced the signing of agreements with a consortium composed of Moroccan public and private stakeholders for the development, by 2030, of 900 million m3 of desalinated water and 800 million m3 of water transport through water highway projects. The plan also includes 1,500 MW of CCGT projects, a new 3,000 MW (3 GW) high voltage direct current (HVDC) infrastructure between the South and Center of the Kingdom of Morocco, and 1,200 MW of green energy projects through a power purchase agreement with the ONEE.
In the second quarter of 2025, TAQA Morocco will launch the construction of the Boujmil wind farm with a total capacity of 144 MW, including a first phase of 100 MW scheduled for commissioning in 2027. As for the consortium project with Moeve aimed at producing green ammonia and industrial fuel, which was selected by the steering committee of the Green Moroccan Hydrogen initiative, negotiations are currently underway for the signing of preliminary agreements to secure the necessary land and initiate feasibility studies.
About TAQA Morocco (BVC: TQM)
TAQA Morocco was created in 1997 to strengthen Morocco's energy mix and support its industrialization and economic growth.The Company is a major player in the Kingdom of Morocco, diversified in the sectors of renewable energy generation, low-carbon, green hydrogen and seawater desalination, as well as in power and water transport networks. TAQA Morocco currently contributes to 34% of the domestic electricity demand with 17% of installed capacity. Listed on the Casablanca Stock Exchange since December 2013, TAQA Morocco aims to support the low carbon strategy and the national water plan. TAQA Morocco is a subsidiary of Abu Dhabi National Energy Company PJSC (TAQA).
Subsidiary of Abu Dhabi National Energy Company «TAQA» TAQA Morocco • Head Office : Km 23, Route secondaire 301 - Moulay Abdellah commune - El jadida Province - Centrale Thermique Jorf Lasfar - B.P.99 -
Sidi Bouzid - El Jadida - Morocco Tel : +212 523 380 000 - Fax : +212 523 345 375
Contact : finance@taqamorocco.ma TAQA Morocco's Presse release is published on its website at the following link: https://www.taqamorocco.ma/fr/investisseurs/rapports-financiers-et-presentations