Moroccan Steel Company’s revenues grow by 16% in 2024 on strong domestic sales

Maghreb Steel, Morocco's leading flat steel producer, reported a nearly 16% YoY increase in revenue for 2024, driven by strong domestic sales. The company's revenue rose to MHD 5.42 bln (USD 546 mln), up from MHD 4.68 bln in 2023. In the fourth quarter alone, revenue grew 34% YoY to MHD 1.56 bln (USD 157 mln). Sales volumes also saw substantial growth, rising 25% YoY to 547,000 tons in 2024. In Q4, sales volumes surged 42% YoY, reaching 161,000 tons. Maghreb Steel, the country's sole flat steel producer with an annual capacity of 1 mln tons, ( produces hot rolled, cold rolled, galvanized and prepainted coils and sheets). 1 USD = 9.9 MHD