Tangier Med records a net profit of 838 million dirhams in the first half of 2024

The Tangier Med Port Authority (TMPA) has reported its financial results for the first half of 2024, with a net profit of 838 million dirhams (MDH), an increase of 4% compared to 803 MDH for the same period last year. 

TMPA had a turnover of 2.035 billion dirhams, an increase of 12% compared to 1.82 billion dirhams in the same period of 2023. The increase is due to traffic growth at all port terminals. At the end of June 2024, Tangier Med handled 69 million tonnes of goods, an increase of 13.9% compared to the previous year in terms of volume. 

The gross operating surplus (EBE) improved, reaching 1,510 million dirhams, an increase of 10% compared to last year's 1,369 million dirhams. Increased operational activity at all terminals contributed to the good performance. 

For the second year in a row, Tangier Med has reached fourth place in the renowned 2023 Global Container Port Performance Index (CPPI), compiled by the World Bank and S&P Global Market Intelligence. The CPPI index evaluates the efficiency of 405 container ports worldwide based on the length of stay of vessels. It is based on a wealth of information never seen before. 

Tangier Med has invested 300 million dirhams to improve its infrastructure, roads, networks and IT systems, increasing its operational capacity and efficiency. The port has a financial debt of 9.6 billion dirhams, with 4.6 billion dirhams in bond loans. This amount decreased by half a point compared to the end of 2023.