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French Ymagis strengthens its presence in Morocco

The French Ymagis strengthens its presence in the kingdom. The operator of the film industry has significantly increased its workforce.

Two years after having bought his fellow Eclair Group (including its Moroccan subsidiaries) at the helm of the Commercial Court of Nanterre, this European specialist in digital technologies for the cinema industry quadrupled its workforce in the Moroccan territory by raising them to nearly 70 employees currently. This strong growth mainly concerned the new Berrechid site, the result of another external growth in 2018, in which the Ymagis group’s management transferred several activities on behalf of all of the Group’s entities, including maintenance application and technical support services.

The new subsidiary that carries this site, namely YIT Solutions & Services Morocco, now employs alone three quarters of Moroccan employees (a total of 50 employees). After a frantic recruiting effort in recent months, it now operates as a kind of internal services and computer engineering company (SSII) group listed on Euronext Paris since 2013. For their part, the other subsidiaries de Ymagis continue their development as offshore platforms oriented towards the production, adaptation of audiovisual content and post-production services (Audiotitres and Studio 8), it means in the field of the integration and sale of audiovisual solutions and cinematographic maintenance (Cinema Next Africa) where the group has several references in Morocco including Megarama (Ain Diab’s cinema multiplex in Casablanca).

Recall that with more than 800 employees spread over fifteen countries around the world, the Ymagis Group claims in 2018 a consolidated turnover of 167 million euros (more than MAD 1.8 billion) for a result net loss of 17.5 million euros (nearly 190 million dirhams). This has severely penalized its share price which has been divided by more than 4 times since January 1, 2019.

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