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Taqa Morocco: Earnings decline in Q1

Taqa Morocco closes the first quarter with some indicators down. At the end of March, the profit of the private electricity producer fell 6% to 265 million dirhams, while the consolidated operating profit amounted to 654 million dirhams, down 4%. This is due to the slight increase in operating and maintenance expenses and the unfavorable change in the purchase price of coal on the international market.

The company’s turnover amounted to 2.37 billion dirhams, up 14% from the first quarter of 2018. This increase is explained by the good performance of all the units and the increased energy costs.

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