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Maghreb Steel reports 5% revenue growth in H1 2024 performance

Maghreb Steel, Morocco’s premier flat steel producer, has reported a robust performance in the first half of 2024.

Maghreb Steel reports 5% revenue growth in H1 2024 performance

Maghreb Steel, Morocco's leading producer of flat steel products, has announced a strong financial performance for the first half of 2024. The company recorded a 5% increase in revenue year-over-year, reaching MHD 2.55 billion (approximately USD 260 million), compared to MHD 2.43 billion during the same period in 2023. This uptick is attributed to a notable rise in both domestic and international sales.

The sales volume for Maghreb Steel surged by 15% from the previous year, totaling 255,000 tons in the first half of 2024. Particularly remarkable was the second quarter, which saw a 19% boost in sales volume, reaching 130,000 tons.

As Morocco's sole flat steel manufacturer, Maghreb Steel operates with an impressive annual production capacity of 1 million tons. The company's product range includes hot rolled, cold rolled, galvanized, and prepainted coils and sheets, reflecting its extensive manufacturing capabilities.

This performance highlights Maghreb Steel's significant impact on the steel industry, underscoring its critical role in both the Moroccan market and the global steel sector.

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