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Marsa Maroc
On this page
Company details
- Legal name
- Société d'Exploitation des Ports (SODEP S.A)
- Listing
- MSA on the Bourse de Casablanca, active · ISIN MA0000012312 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. Autre point (p122): 'Sans remettre en cause notre opinion', the public-domain assets placed in the concession by the grantor are not included in the accounts of SODEP S.A at 31 December 2024; including them would better reflect the concession clauses without affecting result or financial position.
Full wording and sources
Auditor's emphasis of matter
Autre point (p122): 'Sans remettre en cause notre opinion', the public-domain assets placed in the concession by the grantor are not included in the accounts of SODEP S.A at 31 December 2024; including them would better reflect the concession clauses without affecting result or financial position. Key audit matter: provisions for major repairs of SODEP S.A (KMAD 1.437.585, 17% of total liabilities) (p122).
Source: Rapport Financier Annuel 2024 (dated 2025-04-28)
-
Revenue
MAD 5.01 billion
5,008,150 MAD thousands · p111
+15.9% vs 2023
-
Operating profit / (loss)
MAD 2.09 billion
2,087,731 MAD thousands · p111
+34.3% vs 2023
-
Profit / (loss) for the year
MAD 1.46 billion
1,458,418 MAD thousands · p111
+45.1% vs 2023
-
Total assets
MAD 8.30 billion
8,298,683 MAD thousands · p110
+5.2% vs 2023
-
Total equity
MAD 3.67 billion
3,665,891 MAD thousands · p110
+22.9% vs 2023
-
Cash from operations
MAD 2.01 billion
2,013,818 MAD thousands · p112
+51.2% vs 2023
Large amounts are rounded for reading (MAD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MAD thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — annual report, signed / final; reported for the year · source
- FY2023 — annual report, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Chiffre d'affaires | 5,008,150 | 4,320,173 |
| Reprises d'exploitation1 | 56,942 | 43,564 |
| Produits d'exploitation2 | 5,065,092 | 4,363,737 |
| Achats et autres charges externes3 | (1,569,407) | (1,403,060) |
| Impôts et taxes4 | (21,632) | (20,376) |
| Charges de personnel | (793,331) | (812,258) |
| Autres charges d'exploitation | (230) | (100) |
| Dotations d'exploitation5 | (592,760) | (573,287) |
| Charges d'exploitation6 | (2,977,361) | (2,809,080) |
| Résultat d'exploitation | 2,087,731 | 1,554,657 |
| Résultat financier7 | (31,749) | (37,170) |
| Résultat non courant8 | (64,187) | (189,972) |
| Résultat avant impôt9 | 1,991,796 | 1,327,515 |
| Impôts sur les sociétés10 | (532,573) | (372,356) |
| Impôts différés11 | 1,001 | 49,829 |
| Résultat net des entreprises intégrées12 | 1,460,223 | 1,004,988 |
| Dotations aux amortissements des écarts d'acquisition13 | (1,805) | Not reported in this filing14 |
| Résultat consolidé | 1,458,418 | 1,004,988 |
| Part des minoritaires15 | 191,439 | 152,754 |
Notes and alternative reported figures (15)
- “Reprises d'exploitation” is an issuer-specific line, not mapped to a shared definition: Operating reversals of provisions / transfers of charges.
- “Produits d'exploitation” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of operating income.
- “Achats et autres charges externes” is an issuer-specific line, not mapped to a shared definition: Purchases and other external charges (printed positive).
- “Impôts et taxes” is an issuer-specific line, not mapped to a shared definition: Taxes and duties other than income tax (printed positive).
- “Dotations d'exploitation” is an issuer-specific line, not mapped to a shared definition: Operating depreciation and provisions (printed positive).
- “Charges d'exploitation” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of operating charges (printed positive).
- “Résultat financier” is an issuer-specific line, not mapped to a shared definition: Net financial result (no components printed).
- “Résultat non courant” is an issuer-specific line, not mapped to a shared definition: Net non-current result (no components printed).
- “Résultat avant impôt”: mapping to a shared definition is uncertain. Printed before income tax and goodwill amortisation (CGNC consolidated layout).
- “Impôts sur les sociétés” is an issuer-specific line, not mapped to a shared definition: Current income tax (printed positive, deducted).
- “Impôts différés” is an issuer-specific line, not mapped to a shared definition: Deferred tax (printed -1 001: a deferred tax income).
- “Résultat net des entreprises intégrées” is an issuer-specific line, not mapped to a shared definition: Net result of the fully consolidated companies before goodwill amortisation.
- “Dotations aux amortissements des écarts d'acquisition” is an issuer-specific line, not mapped to a shared definition: Goodwill amortisation (printed positive, deducted).
- Not reported in this filing: The line 'Dotations aux amortissements des écarts d'acquisition' carries a 2024 amount only; the 2023 column is blank (p111). Checked on the page image.
- “Part des minoritaires” is an issuer-specific line, not mapped to a shared definition: Net result attributable to minority interests.
Balance sheet
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Ecart d'acquisition1 | 39,719 | Not reported in this filing2 |
| Immobilisations incorporelles | 1,012,726 | 1,056,798 |
| Immobilisations corporelles | 3,067,649 | 3,088,412 |
| Immobilisations financières3 | 56,342 | 64,251 |
| Impôt différé actif | 609,864 | 608,863 |
| Actif immobilisé | 4,786,299 | 4,818,323 |
| Stocks | 135,933 | 129,157 |
| Clients et comptes rattachés4 | 664,363 | 599,157 |
| Autres créances et comptes de régularisation5 | 322,409 | 336,613 |
| Titres et valeurs de placement | 2,143,687 | 1,743,918 |
| Actif circulant6 | 3,266,392 | 2,808,845 |
| Disponibilités | 245,992 | 263,611 |
| Total actif | 8,298,683 | 7,890,780 |
| Capital | 733,956 | 733,956 |
| Réserves consolidées7 | 1,155,708 | 926,938 |
| Résultat net de l'exercice part du Groupe8 | 1,266,978 | 852,234 |
| Intérêts minoritaires | 509,248 | 470,146 |
| Capitaux propres de l'ensemble consolidé | 3,665,891 | 2,983,274 |
| Provisions durables pour risques et charges9 | 1,877,076 | 1,838,633 |
| Dettes de financement10 | 1,598,034 | 2,031,912 |
| Passif à long terme | 3,475,111 | 3,870,544 |
| Fournisseurs et comptes rattachés11 | 389,954 | 385,806 |
| Autres dettes et comptes de régularisation12 | 767,728 | 651,156 |
| Passif circulant13 | 1,157,682 | 1,036,962 |
| Trésorerie-passif14 | –15 | –15 |
| Total Passif | 8,298,683 | 7,890,780 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_equity_and_liabilities.
Notes and alternative reported figures (14)
- “Ecart d'acquisition” is an issuer-specific line, not mapped to a shared definition: Goodwill (consolidation difference), net.
- Not reported in this filing: The line 'Ecart d'acquisition' carries a 2024 amount only; the 2023 column is blank (p110). Checked on the page image.
- “Immobilisations financières” is an issuer-specific line, not mapped to a shared definition: Non-current financial assets (CGNC).
- “Clients et comptes rattachés” is an issuer-specific line, not mapped to a shared definition: Trade receivables.
- “Autres créances et comptes de régularisation” is an issuer-specific line, not mapped to a shared definition: Other receivables and accrual accounts.
- “Actif circulant” is an issuer-specific line, not mapped to a shared definition: CGNC 'actif circulant': current assets excluding Disponibilités (printed below it).
- “Réserves consolidées” is an issuer-specific line, not mapped to a shared definition: Group consolidated reserves.
- “Résultat net de l'exercice part du Groupe” is an issuer-specific line, not mapped to a shared definition: The year's net result, group share, within equity.
- “Provisions durables pour risques et charges” is an issuer-specific line, not mapped to a shared definition: Long-term provisions for risks and charges (including major repairs).
- “Dettes de financement”: mapping to a shared definition is uncertain. CGNC 'dettes de financement' (long-term financing debts).
- “Fournisseurs et comptes rattachés” is an issuer-specific line, not mapped to a shared definition: Trade payables.
- “Autres dettes et comptes de régularisation” is an issuer-specific line, not mapped to a shared definition: Other payables and accrual accounts.
- “Passif circulant” is an issuer-specific line, not mapped to a shared definition: CGNC 'passif circulant': current liabilities excluding Trésorerie-passif.
- “Trésorerie-passif”: mapping to a shared definition is uncertain. CGNC trésorerie-passif; printed '-' in both columns.
Cash flow
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Résultat net des sociétés intégrées1 | 1,460,223 | 1,004,988 |
| Dotations d'exploitation nettes des reprises2 | 531,447 | 506,176 |
| Variation des impôts différés3 | (1,001) | (49,829) |
| Annulation des résultats de cession des immobilisations4 | (40,005) | (1,237) |
| Autres produits sans impact sur la trésorerie5 | 211 | 863 |
| Variation du BFR lié à l'activité6 | 62,942 | (129,360) |
| Flux nets de trésorerie générés par l'activité | 2,013,818 | 1,331,600 |
| Acquisition d'immobilisations7 | (431,653) | (276,848) |
| Cessions d'immobilisations8 | 43,278 | 1,273 |
| Variation des prêts et avances consentis9 | 7,908 | 5,276 |
| Effet de variation de périmètre10 | (53,999) | Not reported in this filing11 |
| Flux nets de trésorerie liés aux opérations d'investissement | (434,465) | (270,298) |
| Dividendes versés aux actionnaires de la société mère | (623,863) | (587,165) |
| Dividendes versés aux actionnaires minoritaires12 | (139,463) | (120,009) |
| Remboursements d'emprunts | (433,877) | (333,862) |
| Flux net de trésorerie lié aux opérations de financement | (1,197,202) | (1,077,399) |
| Variation de trésorerie nette | 382,150 | (16,097) |
| Trésorerie nette ouverture (y compris placements)13 | 2,007,529 | 2,023,626 |
| Trésorerie nette clôture (y compris placements)14 | 2,389,679 | 2,007,529 |
| Variation des Comptes courants d'associés15 | Not reported in this filing16 | (36,362) |
Notes and alternative reported figures (16)
- “Résultat net des sociétés intégrées” is an issuer-specific line, not mapped to a shared definition: Starting line of the cash-flow statement.
- “Dotations d'exploitation nettes des reprises” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
- “Variation des impôts différés” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
- “Annulation des résultats de cession des immobilisations” is an issuer-specific line, not mapped to a shared definition: Disposal gains removed.
- “Autres produits sans impact sur la trésorerie” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
- “Variation du BFR lié à l'activité” is an issuer-specific line, not mapped to a shared definition: Change in operating working capital.
- “Acquisition d'immobilisations” is an issuer-specific line, not mapped to a shared definition: Investing: acquisitions of fixed assets (all kinds, one line).
- “Cessions d'immobilisations” is an issuer-specific line, not mapped to a shared definition: Investing: proceeds from disposals of fixed assets.
- “Variation des prêts et avances consentis” is an issuer-specific line, not mapped to a shared definition: Investing: change in loans and advances granted.
- “Effet de variation de périmètre” is an issuer-specific line, not mapped to a shared definition: Investing (2024 only printed).
- Not reported in this filing: The line 'Effet de variation de périmètre' carries a 2024 amount only; the 2023 column is blank (p112). Checked on the page image.
- “Dividendes versés aux actionnaires minoritaires” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Trésorerie nette ouverture (y compris placements)”: mapping to a shared definition is uncertain. Net treasury including marketable securities, as printed.
- “Trésorerie nette clôture (y compris placements)”: mapping to a shared definition is uncertain. Net treasury including placements: Titres et valeurs de placement 2 143 687 + Disponibilités 245 992 = 2 389 679 (p110).
- “Variation des Comptes courants d'associés” is an issuer-specific line, not mapped to a shared definition: Financing (2023 only printed).
- Not reported in this filing: The line 'Variation des Comptes courants d'associés' carries a 2023 amount only; the 2024 column is blank (p112). Checked on the page image.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividendes versés aux actionnaires de la société mère |
(623,863) | MAD thousands | Annual report, p112 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividendes versés aux actionnaires de la société mère |
(587,165) | MAD thousands | Annual report, p112 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Rapport Financier Annuel 2024
Year ended 31 December 2024 · Annual report · signed / final
Audit: Fidaroc Grant Thornton; Forvis Mazars (commissaires aux comptes), unmodified opinion · signed
Auditor's sign-off: Faïçal Mekouar, Associé, Fidaroc Grant Thornton; Abdou Diop, Associé, Forvis Mazars
Final status: Rapport des commissaires aux comptes sur les états de synthèse consolidés du Groupe SODEP, exercice du 1er janvier au 31 décembre 2024 (opinion PDF p122), unqualified, dated 'Casablanca, le 28 avril 2025' and signed with visible handwritten signatures over the stamps of Fidaroc Grant Thornton (Faïçal Mekouar, Associé) and Forvis Mazars (Abdou Diop, Associé) (PDF p123, page image). The notes state the statements were 'arrêtés par le conseil d'administration le 17 mars 2025' (PDF p114).
- Document date
- 28 Apr 2025
- Auditor's report
- 28 Apr 2025
- Board approval
- 17 Mar 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- consolidated statements · MAD thousands (printed “En milliers de MAD”)
- Directory name 'SODEP-Marsa Maroc'; the auditors' report prints 'Société D'Exploitation des Ports (SODEP S.A)' and 'Groupe SODEP' (p122), the statements 'Groupe Marsa Maroc' (p110), and the legal notice 'Société de l'Exploitation des Ports - S.A au Capital de 733.956.000,00 de DH' (p158); Marsa Maroc is the trade name of SODEP S.A (same entity).
- Moroccan consolidated (CGNC/CNC avis n°5) layout. The CPC prints the financial and non-current results without their components. Operating charges, income tax and goodwill amortisation are printed positive and deducted; deferred tax is printed -1 001 (2023: -49 829), a deferred tax income added back; these are stored with sign 'negate'. 'Actif circulant' and 'Passif circulant' exclude treasury; 'Passif à long terme' excludes equity.
- Rounding of 1 as printed: Actif immobilisé 4 786 299 against its lines 4 786 300; Résultat avant impôt 1 991 796 against 1 991 795; Résultat consolidé 1 458 418 against group share 1 266 978 + minorities 191 439 = 1 458 417; equity lines 3 665 890 against 3 665 891 (pp110-111).
- Net treasury in the TFT includes marketable securities: closing 2 389 679 = Titres et valeurs de placement 2 143 687 + Disponibilités 245 992 (2023: 1 743 918 + 263 611 = 2 007 529) (pp110, 112).
Technical details
- File
- 159 pages, with a text layer
- SHA-256
544ce1f6baeeb02c3ca69fcaa273bcaf365a78cab2a4f14e8aa45ff256adc4f3- Entity as printed
- Société d'Exploitation des Ports (SODEP S.A) et ses filiales (Groupe SODEP), Angle boulevard Route d'El Jadida et Rue les Papillons, Casablanca (PDF p122)
- Regulator copy
- retrieved 2026-10-08T19:03:21Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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