Total Morocco Reports 8% Sales Growth Despite Revenue Dip in 2019
The turnover of Total Morocco went from 12.3 billion dirhams last year to 12.48 billion dirhams in 2018, representing a slight decline.
The sales of the oil products specialist reached 1,771 kt, marking an 8% increase compared to last year, supported by an investment effort through the opening of 13 new service stations since the beginning of the 2019 fiscal year, bringing Total Morocco’s network to 330 points of sale, according to a press release from the company.
The net financial debt of Total Morocco, incorporating the impact of the new IFRS 16 standard, which came into effect on January 1, 2019, stood at -364 million dirhams, compared to -484 million MAD for the same period the previous year.
Total Morocco is the 3rd Moroccan distributor of petroleum products. The company has been present in the kingdom for over 90 years.
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