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          EVOLUTION OF FINANCIAL


          INDICATORS AND SUMMARY STATEMENTS





          Evolution of financial indicators (in millions of Moroccan dirhams)


                                                            2020



              Revenues                    Operating                      Added                           Cash

                                           expenses                       value                          flow


                 1 940                       1 851                        1 195                         556,9





                4,7%                        5,9%                         2,4%                         16,8%




                 1 853                       1 748                        1 167                         476,9

                 The result              Efforts deployed in            Improvement                   Consolidation
               of continuous            terms of maintenance            in the vertical           of the wealth generated
             regulatory agility at        of docks and port            integration rate:           by the ports managed
            the major commercial           infrastructures.                 61.5.                     by the Agency.
               ports managed
               by the Agency.            Impact of ambitious
                                        investment programs
                                           on depreciation
                                              charges.




                                                            2019




          2020    ANNUAL REPORT  I  NATIONAL PORTS AGENCY
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