Marsa Maroc in brief - Trombino
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Transcript of Marsa Maroc in brief - Trombino
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Corporate name Société d’exploitation des ports – Marsa Maroc
Date of establishment December 1st, 2006
Legal status Limited Company with Board of Directors and Supervisory Board
Registered capital 733.956.000 MAD
Headquarters 175, Bd Zerktouni – 20100 Casablanca – Morocco
Chairman of Board of Directors Mohammed ABDELJALIL
Sector of activity Terminals and ports operating within the framework of concessions
Turnover 1 952 million MAD (*)
Staff 2.247 collaborators (*)
Global traffic 35.5 million tons (*)
Location of terminals Nador, Al Hoceima, Tangier, Mohammedia, Casablanca, Jorf Lasfar, Safi, Agadir,
Laayoune, Dakhla
Services offered Ship-related services (piloting, towing, mooring, victualing, etc) ; Goods related
services (handling on board and on dockside, storing, checking, weighting, containers’
staffing and unstaffing, etc) ; Related services ( handling, goods’ staking, loading and
unloading of trucks, etc) ; Real-time information (Marsa Container e-service).
(*) To the end of 2011
Marsa Maroc is a multi-speciality port operator and the national
leader in ports’ operation with a significant presence in all the
Kingdom’s commercial ports.
Since its creation by the end of 2006, Marsa Maroc started a
development process going along with the dynamic of the logistics
sector in Morocco. Driven by the service quality care and thanks to
its qualified human resources and performant equipments, Marsa
Maroc strives to offer services along with international standards
in all its operated ports.
Moreover, Marsa Maroc has the ambition to develop on the
international market to become a reference port operator at the
regional scale. The obtaining of the Container Terminal 4 concession
in the port of Tanger Med II constitutes rightly a major first step in
this direction.
Corporate profile :Marsa Maroc in brief
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President’s word 9
Presentation of Marsa Maroc 10 Management bodies 10
Marsa Maroc organization chart 11
Highlights of 2011 12
Development 14
Quality 18
Citizenship 20
2011 Activity 22
Traffic achievements 24
Financial results 30
Financial Statements 34
Balance sheet (Assets) 36
Balance sheet (Liabilities) 37
Profit and loss account 38
Management accounts 40
Funds statement 41
Contacts 42
Table of Contents
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President’sWord
By the end of 2011, Marsa Maroc celebrated its fifth anniversary. Those 5 very rich years knew the realization of most projects set in the Company’s strategic plan
Mohammed ABdeljAlilPresident of the executive Board
By the end of 2011, Marsa Maroc celebrated its fifth anniversary. Those 5 very rich years knew the realization of most projects set in the Company’s strategic plan. To cite just the most important achievements, there is the concession to operate a container terminal at the future port of Tanger Med II, which will bring the company to the rank of a regional port operator; the improvement of operational performance in operated terminals especially in the container activity; and the operation of new port facilities in the ports of Jorf Lasfar and Tanger Med I. The year 2011 came to a close with positive results as several projects were realized :
We completed the construction works of the vertical storage space for cars at the port of Casablanca on time. With this new infrastructure, and in addition to our processing capacity that reaches 200,000 units annually, we can better meet the requirements of vehicles importers and exporters in terms of safety and service quality. At the port of Jorf Lasfar, Marsa Maroc uses a new high-capacity multi-purpose terminal which constitutes, thanks to its many advantages, an adequate logistics solution for industries in the region.
We also continued our project of improving the quality of service, which we place at the center of our priorities, with the certification of our activity at the port of Tanger Med I, and
the establishment of a quality management system for Freight Forwarding at the port of Casablanca.
Finally, there is our societal project “For a better scooling” through which we translate our civic engagement for the improvement of schooling conditions in rural areas. Thus, we are proud to have helped almost 20 children to have access to a day nursery equipped with educational materials.
In terms of achievements, Marsa Maroc remains the market leader with a share of 48% of the national port traffic. As for our financial performance, our turnover stood at 1,952 million dirhams, which is in line with our expectations.
Those many major achievements encourage us to overcome new challenges in 2012, while keeping our customers’ satisfaction and the continuous improvement of our quality of service at the heart of our concerns.
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Presentationof Marsa Maroc
MAnAGeMenT BoDieS
SuPeRviSoRy BoARD :Mr Abdelaziz RABBAH Minister of Equipment and Transport,
Chairman of the Supervisory Board
Mr younes TAZi Vice President of the Supervisory Board
Mr Abdelhak KHouADRA Representative of the Ministry of Economy and Finance
Mr Hamid ZHAR Secretary of the Supervisory Board
BoARD oF DiReCToRS :
Mohammed ABDeLJALiLPresident of theExecutive Board
el Mahjoub BAyRiDirector and Tanger Med
Project Manager
Rachid HADiOperations’ Manager
at the port of Casablanca
Mustapha SAHABiFinancial Manager
youssef BennAniDevelopment Manager
(*) A total of eight: Nador, Tangier, Mohammedia, Casablanca, Jorf Lasfar, Safi, Agadir, Laayoune.
Marsa Marocorganization chart
Development Direction
Financial Direction
Purchase and General Affairs Direction
Tanger Med Project Direction
Human Resources Direction
Legal Matters Direction
Technical Direction
Information Systems Direction
Internal Audit Direction
Port Operations Managers (*)
Chairman of the Executive Board
01Development 14
Quality 18
Citizenship 20
2011 Highlights
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On the 22nd of December 2011, his Majesty King
Mohammed VI, may God assists him, inaugurated the
new multi-purpose terminal of the port of Jorf Lasfar. This
terminal that is in accordance with international standards,
offers to customers an infrastructure, compound of a quay
with a length of 310 meters, a depth of 12.5 meters and
9.3 hectares of land.
Being the operator of this new terminal, Marsa Maroc was
in charge of its installation and securitization in accordance
with the provisions of the ISPS code via the installation
of removable fences and access spaces for vehicles and
pedestrians, as well as the lighting systems of all areas.
Moreover, and regarding equipment, Marsa Maroc has
invested 55 million MAD including mainly the acquisition of
mobile cranes with a capacity of 63 tons.
INAUgURATION Of A MULTI-PURPOsE
TERMINAL AT THE PORT Of JORf LAsfAR
DEvELOPMENT
This new terminal constitutes an
adequate solution for the port logistics
operations of our clients thanks to its high
capacity, its proximity to the industrial
areas of Casablanca and the capacity of
its equipment
Rachid ABINOUH
Operations’ Manager
of the port of Jorf Lasfar
Launched on the 29th of March 2010, by His Majesty King Mohammed VI may God assists him, the
construction works of the vertical storage space for vehicles were completed in December 2011.
First of its kind in Morocco, this storage space is a part of the strategic plan of Marsa Maroc, that includes
the improvement of service quality for car carriers.
The purpose of the new storage space is to meet the needs of vehicles importers and exporters in terms of gains
of time, capacity of accommodation and service quality. Built over 5 floors, the building has a surface area of
20 000 m² and a storage area of 100 000 m². It has a nominal storage capacity of 5 000 vehicles and will
enable handling some 200 000 units per year.
Through this structuring project, Marsa Maroc intends to follow the dynamism of vehicles imports and
exports by the port of Casablanca.
Marsa Maroc took out 10% in the capital of the company «Portnet», specialized in electronic data interchange
(EDI) whose registered capital is 6 million MAD.
Portnet was created by the National Agency of Ports (Agence Nationale des Ports) in a context marked by
a sustained grouth of the national port traffic, the «Portnet» project consists of the development and the
implementation of an information system for the national port community.
Besides simplifying and dematerializing import and export procedures, this platform aims also to reduce
transit time of cargo in ports.
COMPLETION Of CONsTRUCTION WORks Of THE
vERTICAL sTORAgE sPACE fOR vEHICLEs
MARsA MAROC TAkEs OUT sTAkEs IN
« PORTNET »
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DEvELOPMENT
PREPARATION Of THE OPERATION Of
CONTAINER TERMINAL 4 IN THE PORT Of
TANgER MED II
Within the framework of preparing the commissioning and operating of Container Terminal 4 (TC4)
of the port of Tanger Med II, Marsa Maroc has strengthened the structure dedicated to this project.
Thus, the Tanger Med II Direction has three departments covering the Technical, Operational and
Commercial as well as the Financial and Human Resources functions. The purpose is to prepare the
necessary resources to allow a smooth operation of TC4 in terms of human resources, equipment
and operations, etc.
The year 2011 also knows the designation of consultants to participate in the completion of
the different worksites, in particular the project financing, studies on port traffic and costs and
assistance in project management.
At the end of June 2011, Marsa Maroc obtained the
ISO 9001 certification , 2008 version, of its quality
management system for the handling of bulk and
general cargo traffics at the port of Tanger Med I.
The bulk and general cargo terminal has been run by
Marsa Maroc since October 2010 under the terms of
a subcontract agreement entrusted by TMPA (Tanger
Med Port Authority).
CERTIfICATION Of THE bULk AND gENERAL
CARgO TERMINAL AT THE PORT Of TANgER
MED I
Through the project of certification of our services at the port
of Tanger Med I, we aim at answering all the requirements of
our customers and improving their level of satisfaction via the
establishment of clear processes meeting their expectations.
Mounir SENNOUNI
Operations’ Manager
at the port of Tangier
QUALITy
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QUALITy
CITIzENsHIP
Operations’ direction at the port of Casablanca has set up a quality management system for the Freight
Forwarding activity in order to better know and master all the processes involved. This action will be followed
by a certification audit in 2012.
EsTAbLIsHMENT Of A QUALITy MANAgEMENT
sysTEM fOR fREIgHT fORWARDINg AT THE
PORT Of CAsAbLANCA
Marsa Maroc has launched a structuring project aiming the setting up of a Quality Management System
(QMS) in accordance with the standards of ISO 9001, 2008 version.
Managed by the internal audit direction, this project is run by a specialized firm in the establishment of
reference procedures. It aims at the formalization of Marsa Maroc’s processes in order to ensure the
achievement of objectives and the coverage of process risks, the harmonization and consistency of our
procedures and practices as well as the capitalization on the experience and its integration into the system
of quality management.
sTUDy ON THE EsTAbLIsHMENT Of REfERENCE
PROCEDUREs
The final objective of this project is assuredly the
strengthening of the client orientation
Abdellah ACHIR
Internal Audit Manager
Conscious about its corporate responsibility, Marsa Maroc has implemented a social project in partnership
with the Association “Amis des Ecoles» (Friends of Schools), with the objective of improving the
conditions of schooling in the rural environment. The project named « For a better schooling », consists
of contributing to the collective effort entailing the creation of a school environment both pleasant and
attractive with the aim of reducing the rate of school dropout in rural areas.
Construction of 25 drinking water fountains in schoolsFor the first year, Marsa Maroc decided to help rural schools in the region of Tata with the aim of improving
the hygienic conditions of students.
The choice of Tata is justified by the rate of school dropout in this region, which is more than twice that
of the national average.
In the field, Marsa Maroc contributes through the financing of the provision of 25 drinking water fountains
in 25 schools enabling more than 3 000 students to learn in better conditions of hygiene.
Construction of a day-nurseryMarsa Maroc funded the building of a day-nursery at Oursstek (a village near Oukaimeden). For the first
year of is existence, this center will accommodate 17 children and will also host literacy courses offered
to village women.
sOCIETAL PROJECT
« fOR A bETTER sCHOOLINg »
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CITIzENsHIP
Marsa Maroc, and for the second time in a row, was
awarded the blue flag for its citizen commitment
to the « Clean Beaches » operation. It rewards the
actions carried out by Marsa Maroc in cleaning up and
animating the « Ain Diab Extension » beach.
Equipment has been provided by the team of Marsa
Maroc at the port of Casablanca in order to beautify
rest spaces as well as for security and recreational
activities for people visiting this beach during the
summer.
AWARD Of bLUE fLAg fOR “CLEAN bEACHEs”
OPERATION
02Traffic achievements 24
Financial results 30
2011 Activity
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1151% 29%
8%
12%
TRAffIC ACTIvITIEs
In 2011, Marsa Maroc handled in its various terminals nearly 48% of national port traffic while preserving
its leadership in the majority of segments, in particular that of domestic container traffic with a market
share of more than 63%.
MARkET sHARE Of MARsA MAROC IN NATIONAL TRAffIC
Marsa Maroc’s market sharein the Container national Traffic
evolution of liquid bulks traffic by product in tons
Operations Direction at the Port of Casablanca
Operations Direction at the Port of Agadir
Tanger Med
Somaport
gLObAL TRAffIC :
In 2011 Marsa Maroc handled a global traffic of 35.3 million tons, a volume in stagnation compared to the
previous year in spite of the international context marked by the economic crisis.
ACTIvITy sEgMENT TRAffIC :
The traffic achievements show, on one hand, a rise in solid and liquid bulks and new vehicles traffics and on
the other hand, a drop in conventional and container segments.
The liquid bulks segment registered a volume of nearly 15.4 million tons registering a slight rise of 3%
explainable by the rise in hydrocarbons import in the port of Mohammedia.
TRAffIC HANDLED by MARsA MAROC
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The solid bulks segment reported more than 11 million tons, a rise of 13% thanks to the good
performance in cereals traffic which registered a substantial rise of 100%, and to coal and petcoke traffic
that increased by 18%.
The container traffic segment registered a decrease of 13% with a handled volume of 645.000
TEUs (Twenty foot equivalent) explainable by the effect of competition in the port of Casablanca and by
the decline in citrus fruits, early vegetables and frozen fish traffics in the port of Agadir.
The conventional traffic segment knew a drop of 5% settling at 2.9 million tons. The main traffics
behind this drop were sheet metal coils, wood and billets.
The new vehicles and engines segment amounted to more than 120.000 units handled at the port of
Casablanca where they registered a rise of 39% compared to the previous year.
evolution of solid bulks traffic by product in tons
evolution of main conventional traffics in tons
evolution of new vehicles and engines traffic in units
evolution of the containerized traffic by port in Teu
TRAffIC ACTIvITIEs
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The passengers traffic segment amounted to 2.24 million passengers including 300.000 cruisers
registering a decline of 27%.
evolution of passenger traffic by port
TRAffIC ACTIvITIEs
TRAffIC by PORT :
In 2011, except the port of Tangier where almost the totality of traffic was transferred to the port of Tanger
Med, all the facilities operated by Marsa Maroc saw their activity rising or stagnating compared to the
previous year.
Traffic evolution by port in thousand tons
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57%
1%2%3%4%
5%
8%
9%
11%
8% 2%
90%
The turnover reported by Marsa Maroc in 2011 reached 1 952 million MAD vs. 2.069 million MAD in 2010,
a drop of 117 million MAD and of 6%.
Compared to the initial forecasts, turnover for 2011 was down by 3%.
The drop registered against 2010 is explainable by two major factors ;
• The definitive transfer of the totality of the traffic of the port of Tangier city to the port of Tanger Med ;
• The drop in market share of Marsa Maroc at the port of Casablanca due to competition of the 2nd
operator.
(*) Forecast
TURNOvER EvOLUTION
fINANCIAL PERfORMANCE
Turnover evolution in millions of MAD 2010-2012
Breakdown of 2011 turnover by port
Breakdown of turnover 2011 by services provided
ENTITIES CPOD MPOD APOD JLPOD NPOD SPOD LPOD TPOD DPOD Others TOTAL
TURNOVER (In million of MAD) 1 107 217 174 162 99 86 53 38 10 6 1 952
CPODMPODAPODJLPODNPODSPODLPODTPODDPODOthers
Handling servicesShip-related servicesOther services
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At the end of December 2011, operating expenses amounted to 1.564 Million MAD against 1 572
Million MAD reported over the same period in 2010, a decrease of 1% under the effect of the drop
in level of purchases (-2%), other external expenses (-15%) in addition to taxes and duties (-14%).
The operating expenses also fell by 6% compared to the forecasts for 2011.
EvOLUTION Of OPERATINg ExPENsEs
3. EvOLUTION Of INCOME
At the end of December 2011, the operating income amounted to 426 million MAD vs. 549 million MAD
reported for the same period in 2010, a decline of 22%.
As for the net income in financial year 2011, it fell from 410 million MAD at the end of December 2010 to
210 million MAD at the end of 2011, a drop of 50%.
(*) Forecast
evolution of operating expensesin millions of MAD 2010-2012
fINANCIAL PERfORMANCE
evolution of operating results and net profit in millions of MAD 2010-2012
2011 CAPITAL bUDgET PERfORMANCE :
Compared to the budget set aside for 2011 amounting to 509 million MAD, at the end of 2011 commitments
reached a total of 181 million MAD, a rate of 36%.
(*) Forecast
Studies & Financial interest
Operating profit
Net income
Infrastructures
Equipments
03Balance sheet (Assets) 36
Balance sheet (Liabilities) 37
Profit and loss account 38
Management accounts 40
Funds statement 41
financial statements
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fINANCIAL sTATEMENTs
BALANCE SHEET (ASSETS) Financial Year from 01/01/2011 to 31/12/2011
ASSETS
FINANCIAL YEAR PREVIOUS FINANCIAL YEAR
GROSS DEPRECIATIONSAND PROVISIONS
NET31/12/2011
NET31/12/2010
DEFERRED EXPENSES RECORDED AS ASSET (A) - - - -
INTANGIBLE FIXED ASSETS (B) 84 802 905,39 50 181 095,76 34 621 809,63 42 316 955,39
• Other intangible fixed assets 84 802 905,39 50 181 095,76 34 621 809,63 42 316 955,39
TANGIBLE FIXED ASSETS (C) 2 815 054 097,86 1 419 318 575,90 1 395 735 521,96 1 458 335 894,00
• Lands 80 823 701,84 16 975 892,14 63 847 809,70 63 922 560,34
• Buildings 466 565 609,71 160 706 773,93 305 858 835,78 259 952 124,09
• Technical fittings, material and equipment 1 936 992 930,86 1 165 458 327,13 771 534 603,73 905 676 535,71
• transportation equipment 20 669 403,50 17 713 880,64 2 955 522,86 5 854 558,38
• Furniture, office equipment and various facilities 85 212 742,87 56 888 573,00 28 324 169,87 33 028 627,55
• Other tangible fixed assets 2 172 020,59 1 575 129,06 596 891,53 817 332,38
• Tangible fixed assets in process 222 617 688,49 - 222 617 688,49 189 084 155,55
CAPITAL ASSETS (D) 132 770 991,66 2 825 834,25 129 945 157,41 142 780 784,17
• Fixed advances 125 072 218,51 2 785 834,25 122 286 384,26 135 191 291,02
• Other financial claims 1 583 873,15 40 000,00 1 543 873,15 1 474 593,15
• Equity securities 6 114 900,00 6 114 900,00 6 114 900,00
ASSET TRANSLATION ADJUSTMENT (E) - - - 250 299,18
• Increase in financing debts 250 299,18
TOTAL I (A+B+C+D+E) 3 032 627 994,91 1 472 325 505,91 1 560 302 489,00 1 643 683 932,74
STOCKS (F) 135 308 121,94 13 340 453,04 121 967 668,90 124 185 430,34
• Supplies 115 503 861,44 13 340 453,04 102 163 408,40 104 381 169,84
• Work in process inventory 19 804 260,50 19 804 260,50 19 804 260,50
FLOATING ASSET RECEIVABLES (G) 531 491 718,32 92 786 741,75 438 704 976,57 479 857 178,35
• Advances to suppliers, Advances and payments on account 148 580,00 148 580,00 10 404 642,19
• Trade account receivable and related accounts 308 808 057,19 66 308 046,51 242 500 010,68 241 627 460,70
• Staff 1 045 361,58 1 045 361,58 1 020 883,96
• Government 86 710 042,43 86 710 042,43 103 086 143,73
• Current accounts -
• Other receivables 116 804 833,21 26 478 695,24 90 326 137,97 97 881 556,60
• Accruals 17 974 843,91 17 974 843,91 25 836 491,17
SECURITIES AND INVESTMENT SECURITIES (H) 1 927 897 961,34 1 927 897 961,34 1 847 616 588,82
TOTAL II (F+G+H+I) 2 594 697 801,60 106 127 194,79 2 488 570 606,81 2 451 659 197,51
CASH RESOURCES - ASSET 276 728 870,62 27 673,50 276 701 197,12 228 631 767,76
• Uncashed cheques and instruments 868 995,88 27 673,50 841 322,38 4 442 063,41
• Banks, TG and CP 275 622 000,62 - 275 622 000,62 223 964 152,28
• Cash, imprests and sums at disposal 237 874,12 - 237 874,12 225 552,07
TOTAL III 276 728 870,62 27 673,50 276 701 197,12 228 631 767,76
GRAND TOTAL I + II + III 5 904 054 667,13 1 578 480 374,20 4 325 574 292,93 4 323 974 898,01
FIXED
ASSETS
CURRENT
ASSETS
CAS H
POSITIO N
BALANCE SHEET (LIABILITIES) Financial Year from 01/01/2011 to 31/12/2011
LIABILITIESFINANCIAL YEAR
31/12/2011PREVIOUS FINANCIAL YEAR
31/12/2010
SHAREHOLDERS’ EQUITY 2 294 944 933,92 2 199 783 376,26
• Personal funds or registered capital 733 956 000,00 733 956 000,00
• Shareholders, uncalled subscribed
• Share premiums, merger premiums,
• Revaluation adjustment
• Reserve 73 395 600,00 69 605 382,55
• Other reserves (2) 206 331 958,64 10 796 459,41
• Balance carried forward 1 075 099 817,62 975 163 203,12
• Incomes pending allocation (2)
• Income of the Financial Year (2) 206 161 557,66 410 262 331,18
SHAREHOLDERS’ EQUITY TOTAL (A) 2 294 944 933,92 2 199 783 376,26
EQUIVALENT SHAREHOLDERS’ EQUITY (B) 184 581 097,55 161 153 317,02
• Amortization expense 184 581 097,55 161 153 317,02
FINANCING DEBTS (C) 128 667 105,13 157 469 823,50
• Debenture loans
• Other financing debts 128 667 105,13 157 469 823,50
PERMANENT PROVISIONS FOR RISK EXPOSURES AND EXPENSES (D) 802 217 425,58 699 014 547,32
• Provisions for risk exposures 206 000 394,36 195 428 932,07
• Provisions for expenses 596 217 031,22 503 585 615,25
CONVERSION RATE ADJUSTMENT (F) 544 065,05 -
• Decrease in financing debts 544 065,05
TOTAL I (A+B+C+D) 3 410 954 627,23 3 217 421 064,10
DEBTS OF THE FLOATING LIABILITY (F) 710 560 362,34 901 540 723,67
• Trade accounts payable and related accounts 264 293 552,00 337 336 713,18
• Advances and payments on account from customers 19 390 445,11 19 833 526,01
• Staff 60 213 713,47 97 954 094,38
• Social institutions 50 586 706,57 49 282 743,16
• Government 140 398 875,32 151 794 355,02
• Current accounts 232,64 178,20
• Other creditors 174 397 042,50 244 227 540,74
• Accruals 1 279 794,73 1 111 572,98
TRANSLATION ADJUSTMENTS LIABILITIES (H) 71 372,57 4 067,49
TOTAL II (F + G + H) 710 631 734,91 901 544 791,16
CASH RESOURCES - LIABILITY 203 987 930,79 205 009 042,75
• Banks (credit balances) 203 987 930,79 205 009 042,75
TOTAL III 203 987 930,79 205 009 042,75
GRAND TOTAL I + II + III 4 325 574 292,93 4 323 974 898,01
PERMANENT
FINANCEMENT
CURRENT
LIABILITIES
CASH
POSITION
(1) Debit personal funds(2) Beneficiary (+) In the red (-)
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PROFIT AND LOSS ACCOUNT (Excluding Tax) Financial Year from 01/01/2011 to 31/12/2011
PROFIT AND LOSS ACCOUNT
OPERATIONS TOTALS OF THE TOTALS OF THE
Financial YearA
PREVIOUSFinancial
YearB
Financial Year2011
31/12/2011C = A + B
PREVIOUSFinancial Year
31/12/2010D
I. OPERATING INCOME 1 990 003 979,49 - 1 990 003 979,49 2 121 266 634,13
• Sales of assets and services produced 1 951 778 057,44 - 1 951 778 057,44 2 068 793 590,43
• Operating recovery: transfers of expenses 38 225 922,05 38 225 922,05 52 473 043,70
TOTAL I 1 990 003 979,49 - 1 990 003 979,49 2 121 266 634,13
II. OPERATING COSTS 1 556 540 146,95 7 434 158,38 1 563 974 305,33 1 572 050 248,38
• Consumed purchases of materials and supplies (1) 187 702 379,18 513 147,04 188 215 526,22 191 382 307,09
• Other external expenses 338 074 070,17 6 805 213,31 344 879 283,48 404 249 930,57
• Duties and taxes 19 241 764,14 - 19 241 764,14 21 816 453,86
• Payroll 524 093 901,00 115 798,00 524 209 699,00 501 998 655,58
• Other operating costs - -
• Operating expenses 487 428 032,46 0,03 487 428 032,49 452 602 901,28
TOTAL II 1 556 540 146,95 7 434 158,38 1 563 974 305,33 1 572 050 248,38
III. OPERATING RESULTS (I - II) 433 463 832,54 -7 434 158,38 426 029 674,16 549 216 385,75
IV. FINANCIAL INCOME 88 472 087,94 - 88 472 087,94 80 049 908,59
• Income of investments and other long-term investments 1 095 000,00 1 095 000,00 1 350 000,00
• Foreign exchange loss 56 351,28 56 351,28 59 039,77
• Interest income and other financial income 84 974 135,70 84 974 135,70 76 460 956,94
• Financial reversals: transfers of expenses 2 346 600,96 2 346 600,96 2 179 911,88
TOTAL IV 88 472 087,94 - 88 472 087,94 80 049 908,59
V. FINANCIAL EXPENSES 11 926 119,29 - 11 926 119,29 10 964 898,65
• Interest expenses 9 263 474,48 9 263 474,48 10 479 060,85
• Exchange loss 615 543,54 615 543,54 76 743,86
• Other financial expenses 30 805,85 30 805,85 34 811,76
• Financial expenses 2 016 295,42 2 016 295,42 374 282,18
TOTAL V 11 926 119,29 - 11 926 119,29 10 964 898,65
VI. FINANCIAL INCOME (IV-V) 76 545 968,65 - 76 545 968,65 69 085 009,94
VII. CURRENT INCOME (III - VI) 510 009 801,19 -7 434 158,38 502 575 642,81 618 301 395,69
VIII. NON CURRENT INCOME 62 201 325,75 434 875,97 62 636 201,72 382 398 948,83
• Disposals income 2 833 595,90 2 833 595,90 4 223 714,00
• Other non current income 21 872 562,82 434 875,97 22 307 438,79 62 244 024,92
• Non current reversals: transfers of expenses 37 495 167,03 37 495 167,03 315 931 209,91
TOTAL VIII 62 201 325,75 434 875,97 62 636 201,72 382 398 948,83
OPERATING
INCOME
FINANCING
NON
CURRENT
fINANCIAL sTATEMENTs
PROFIT AND LOSS ACCOUNT (Excluding Tax) Financial Year from 01/01/2011 to 31/12/2011
PROFIT AND LOSS ACCOUNT
OPERATIONS TOTALS OF THE TOTALS OF THE
Financial YearA
PREVIOUSFinancial
YearB
Financial Year2011
31/12/2011C = A + B
PREVIOUSFinancial Year
31/12/2010D
IX. NON CURRENT EXPENSES 217 689 121,27 787 924,03 218 477 045,30 411 233 081,12
• Net worth of transfered fixed assets depreciation 45 068,58 45 068,58 12 433,91
• Other non current expenses 147 568 228,72 787 924,03 148 356 152,75 147 800 085,38
• Non current depreciation and estimated expenses 70 075 823,97 70 075 823,97 263 420 561,83
TOTAL IX 217 689 121,27 787 924,03 218 477 045,30 411 233 081,12
X. NON CURRENT INCOME (VIIIX) -155 487 795,52 -353 048,06 -155 840 843,58 -28 834 132,29
XI. INCOME BEFORE TAXES (VII+X) 354 522 005,67 -7 787 206,44 346 734 799,23 589 467 263,40
XII. INCOME TAXES(*) 140 573 241,57 140 573 241,57 179 204 932,22
XIII. NET INCOME (XI - XII) 213 948 764,10 -7 787 206,44 206 161 557,66 410 262 331,18
XIV. INCOME TOTAL (I + IV + VIII) 2 140 677 393,18 434 875,97 2 141 112 269,15 2 583 715 491,55
XV. EXPENSE TOTAL (II + V + IX + XII) 1 926 728 629,08 8 222 082,41 1 934 950 711,49 2 173 453 160,37
XVI NET INCOME (Income total - Expense total) 213 948 764,10 -7 787 206,44 206 161 557,66 410 262 331,18
NON
CURRENT
1) Inventory change : final inventory - initial inventory ; increase (+) decrease (-)2) Consumed or resold purchases : purchases - inventory change
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MANAGEMENT ACCOUNT (MA) Financial Year from 01/01/2011 to 31/12/2011
TOTALS OF THE Financial
year 2011TOTALS OF THE Financial
year 2010
I. MANAGEMENT ACCOUNTS REANALYSIS FORM (MARF)
I + PRODUCTION OF THE FINANCIAL YEAR: (1+2+3) 1 951 778 057,44 2 068 793 590,43
1 Purchases of produced goods and services 1 951 778 057,44 2 068 793 590,43
2 Inventory changes
3 Fixed assets produced by the company for itslef
II - CONSUMPTION OF THE FINANCIAL YEAR: (4+5) 533 094 809,70 595 632 237,66
4 Consumed purchases of materials and supplies 188 215 526,22 191 382 307,09
5 Other external expenses 344 879 283,48 404 249 930,57
III = VALUE ADDED (I -II) 1 418 683 247,74 1 473 161 352,77
6 + Operating grants
7 - Duties & taxes 19 241 764,14 21 816 453,86
8 - Payroll 524 209 699,00 501 998 655,58
IV = Earnings before interest, taxes, depreciation & amortization (EBITDA) 875 231 784,60 949 346 243,33
9 + Other operating incomes
10 - Other operating expenses
11 + Operating reversals: transfers 38 225 922,05 52 473 043,70
12 - Operating expenses 487 428 032,49 452 602 901,28
V = OPERATING RESULTS (+ ou -) 426 029 674,16 549 216 385,75
VI + - FINANCIAL INCOME 76 545 968,65 69 085 009,94
VII = CURRENT INCOME (+ OU -) 502 575 642,81 618 301 395,69
VIII + - NON CURRENT INCOME - 155 840 843,58 -28 834 132,29
13 - Income taxes 140 573 241,57 179 204 932,22
IX = NET INCOME OF THE FINANCIAL YEAR (+ ou -) 206 161 557,66 410 262 331,18
II. SELF-FINANCING CAPACITY / SELF-FINANCING
1 Net income of the Financial year 206 161 557,66 410 262 331,18
2 + Operating expenses (1) 423 393 350,82 418 445 625,47
3 + Financial expenses (1) 2 016 295,42 372 709,78
4 + Non current expenses (1) 70 075 823,97 263 420 561,83
5 - Operating reversals (2) 9 293 019,35 35 524 876,93
6 - Financial reversals (2) 2 346 600,96 2 179 911,88
7 - Non current reversals (2) (3) 37 495 167,03 315 931 209,91
8 - Disposals income 2 833 595,90 4 223 714,00
9 + Net worth of transfered fixed assets depreciation 45 068,58 12 433,91
I CASH FLOWS FROM OPERATING ACTIVITIES 649 723 713,21 734 653 949,45
10 Distribution of earnings 111 000 000,00 102 753 840,00
II SELF-FINANCING 538 723 713,21 631 900 109,45
(1) Excluding the expenses relating to the treasury floating assets and liabilities NOTA : The Self-financing Capacity can also be calculated based on earnings before interests, taxes, dépreciation and amortization (2) Excluding the reversals relating to the treasury floating assets and liabilities(3) Including reversals on investment grants
fINANCIAL sTATEMENTs
CASH FLOW STATEMENT Financial Year from 01/01/2011 to 31/12/2011Financial Year Financial Year VARIATIONS (a-b)
A S S E T S31/12//2011
(a)31/12/2010
(b)APPROPRIATIONS
( c)RESOURCES
(d)
• Permanent financing 3 410 954 627,23 3 217 421 064,10 193 533 563,13
• Minus fixed asset 1 560 302 489,00 1 643 683 932,74 83 381 443,74
= WORKING CAPITAL (A) FUNCTIONAL (1-2) 1 850 652 138,23 1 573 737 131,36 276 915 006,87
• Floating assets 2 488 570 606,81 2 451 659 197,51 36 911 409,30
• Minus floating assets 710 631 734,91 901 544 791,16 190 913 056,25
= FINANCING REQUIREMENT (B) GLOBAL (4-5) 1 777 938 871,90 1 550 114 406,35 227 824 465,55
NET CASH (ASSET - LIABILITY) = A - B 72 713 266,33 23 622 725,01 49 090 541,32
A S S E T S APPROPRIATIONS(a)
Financial YearRESOURCES
(b)APPROPRIATIONS
( a)
PREVIOUS Financial YearRESOURCES
(b)
I. PERMANENT RESOURCES OF THE FINANCIAL YEAR (FLOW) 580 449 446,90 684 994 129,74
SELF-FINANCING (A) 538 723 713,21 631 900 109,45
• Funds from operations 649 723 713,21 734 653 949,45
• Disribution of earnings 111 000 000,00 102 753 840,00
DISPOSLAS AND DECREASE OF CAPITAL ASSETS (B) 41 725 733,69 53 094 020,29
• Disposals of intangible assets
• Disposals of tangible assets 2 833 595,90 4 223 714,00
• Disposals of capital assets
• Nonperforming assets recovery 36 883 198,68 48 792 906,29
• Intangible assets withdrawal 2 008 939,11 77 400,00
INCREASE IN CAPITALS AND EQUIVALENTS (C)
• Increase in capital, contributions
• Capital grants
OTHER RESOURCES
INCREASE IN FINANCING DEBTS (D) (net of redemption premiums
TOTAL 1 : PERMANENT RESOURCES 580 449 446,90 684 994 129,74
II. PERMANENT APPROPRIATIONS OF THE FINANCIAL YEAR (FLOW) 303 534 440,03 505 830 688,74
ACQUISITION AND INCREASE OF FIXED ASSETS (E') 275 526 086,49 478 945 158,90
• Acquisitions of intangible assets 4 651 226,00 7 739 911,78
• Acquisition of tangible assets 246 907 294,93 450 479 953,42
• Acquisitions of capital assets
• Increase in nonperforming debt 23 967 565,56 20 725 293,70
REDEMPTION OF CAPITAL (F)
REDEMPTION OF FINANCING DEBTS (G) 28 008 353,54 26 885 529,84
APPROPRIATIONS AS DEFERRED CHARGES (H)
TOTAL II - PERMANENT APPROPRIATIONS (E + F + G + H) 303 534 440,03 505 830 688,74
III. VARIATION IN THE GLOBAL FINANCING REQUIREMENT (G.F.R) 227 824 465,55 210 505 335,66
IV. VARIATION IN CASH FLOW 49 090 541,32 31 341 894,66
GRAND TOTAL 580 449 446,90 580 449 446,90 716 336 024,40 716 336 024,40
04Contacts
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175, Bd. Zerktouni - 20 100 Casablanca - Maroc
Tél. : 0522 232 324 - Fax : 0522 232 335
www.marsamaroc.co.ma
Tél. : 0522 258 258 - Fax : 0522 995 217
e-mail : [email protected]
Nador : B.P. BB Béni-Ensar - NADOR
Tél. : 0536 60 85 18 (6LG) - Fax : 0536 60 85 31
Al Hoceima : B.P. BB Béni-Ensar - NADOR
Tél. : 0661 91 57 49 - Fax : 0536 98 48 62
Tanger : Port de Commerce - B.P 305 - Tanger
Tél. : 0539 93 60 40 à 45 - Fax : 0539 93 15 05
Mohammedia : Port de Commerce - B-P 98 - Mohammedia
Tél. : 0523 32 40 80 - Fax : 0523 32 40 75
Casablanca : Port des Al Mohades - Casablanca
Tél. : 0522 31 71 11 (15 LG) - Fax : 0522 31 58 95
km 22 Route d’El Jadida - B.P. 407 - Plateau Rl Jadida
Tél. : 0523 34 54 54 / 0522 34 51 06/13 - Fax : 0523 34 51 12
B.P 8 fond de Mer - Safi
Tél. : 0524 46 22 56 / 0524 46 23 90 - Fax : 0524 46 48 28
l_oujja @marsamaroc.co.ma
Agadir : B.P. 36 Agadir Port
Tél. : 0528 84 37 00 - Fax : 0528 84 28 25
B.P. 48 Elmersa
Tél. : 0528 99 88 88 - Fax : 0528 99 80 65
Nouveau Port de Dakhla - B.P 335 - Dakhla
Tél. : 0528 89 88 17 / 18 - 0528 89 71 76 - Fax : 0528 89 88 25
Head quarter
Development Direction
Ports
Jorf Lasfar
Safi
Agadir
Laâyoune
Dakhla
CONTACTs
Head Quarter
175, Bd Zerktouni - 20 100 Casablanca - Maroc
Tél.: 0522 232 324
Fax : 0522 232 335
www.marsamaroc.co.ma
