Managem S.A. (MNG) H2 2024 earnings summary

Executive summary

• Audit of the 2024 consolidated and statutory financial statements was conducted by Fidaroc Grant Thornton and PwC Maroc, covering the period from January 1 to December 31, 2024.

• The auditors issued an unqualified opinion, confirming that the financial statements present a true and fair view of the group's financial position, performance, and cash flows in accordance with IFRS and Moroccan accounting standards.

Key financial ratios and metrics

• Consolidated equity: 11,418.7 MMAD; consolidated net profit: 787.5 MMAD for 2024.

• Statutory equity: 6,360.5 MMAD; statutory net profit: 215.9 MMAD for 2024.

Significant events and developments

• Key audit matters included the valuation of goodwill, intangible and tangible assets for the consolidated accounts, and the valuation of unlisted equity investments and advances to subsidiaries for the statutory accounts.

• The auditors reviewed management's processes, assumptions, and calculations for asset valuations and found them appropriate.