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Casablanca – Auto Hall is one of the Moroccan leaders in auto equipment imports and distribution. The group’s consolidated revenue jumped by 15% and stood at MAD 5b.
This decent commercial performance was achieved thanks to Auto Hall’s ability to maintain their market shares at their high levels.
Indeed, the industrial vehicle segment’s market share was stable YoY and stood at 40% thanks to the commercial performance of the Fuso brand.
Regarding light commercial vehicles, Auto Hall’s market share was slightly higher thanks to the Ford brand (market’s leader) as well as the Mitsubishi brand (major player in the pick-up market).
Agricultural equipment’s market share which stood at 13.5% was slightly lower (New Holland brand); while passenger vehicle’s market share remained about the same and stood at 14% thanks to Ford and Nissan brands which grew by 38% and 21% respectively.
The aforementioned developments happened in a market context characterized by a growing passenger vehicle market (+26% YoY), the slowdown of the light commercial vehicles segment and a plummeting agricultural vehicles segment (-33%).
Consolidated EBITDA jumped by 4% to MAD 453m but was not strong enough to counterbalance the adverse effects from an unfavorable FOREX context (rising dollar and yen vs. the dirham); as well as the negative effect from tax adjustments. Indeed, consolidated net income plummeted by 13% and stood at MAD 192m.
For the Shareholders’ Meeting on 23 May 2017, the Board of Directors will propose the distribution of a dividend of MAD 3.5 per share, as well as an exceptional dividend of MAD 2.5 per share.
