an RNPG of 99.9 MDH in 2023

Group HPS net profit (RNPG) amounted to 99.9 million dirhams (MDH) in 2023, down 14.6% compared to 2022.

This result was influenced by the evolution of certain hexogenous elements, such as the exchange rate and the entry into force of the new provisions of the Financial Law relating to corporate taxes in Morocco, HPS indicates in a press release published on the Moroccan’s website. Capital Markets Authority (AMMC).

According to the same source, HPS achieved solid financial and operational performance in 2023, with consolidated revenues of over 1.19 billion dirhams (billion dirhams), up 18.3% and 20% at constant exchange rates, compared to 2022.

This growth is part of the commitment of the ‘AccelR8’ strategic plan, implemented in 2022 and aimed at stimulating the growth, resilience and diversification of the HPS group.

The successful execution of the strategy in 2023 is underlined by consolidated revenue growth in line with the target from 12% to 17% and regular and recurring revenue increasing by 16.3% year-on-year to MAD 808.6 million . % of activity-related income.

As for the payments activity, it achieved a turnover increase of 19.1% to MAD 977 million in 2023, representing 86% of the group’s consolidated turnover. This growth was driven by geographical expansion and the acceleration of the deployment of “PowerCARD” projects, both in “SaaS” mode and in “On-Premise” mode (+27.0%). Licensing-related revenues in turn showed a sharp increase of 38.8%.

As for revenues from the Switching activity, they saw solid growth of 13% to MAD 77.7 million, the press release said, adding that during 2023 this activity has deployed several initiatives aimed at promoting strengthen the adoption of new electronic payment methods and the security of transactions.

These initiatives resulted in a marked increase in the number of interoperable transactions, with withdrawals increasing by 15.5%, an increase of 14.7% for payment transactions and an increase of 18.8% for e-commerce transactions.

As for the Testing activity, it remains affected by the unfavorable economic environment and geopolitical tensions in Europe, which have led to the postponement of several projects.

In 2023, this activity achieved a turnover of 83.4 million dirhams, a decrease of 4.3% compared to 2022, and continued its efforts in reference and consolidation of its customer portfolio.

“Our performance in 2023 confirms the HPS Group’s transition to a new level of development, as defined under the AccelR8 plan. The successful launch of version 4 of PowerCARD represents a strategic turning point for the Group and offers several breakthrough innovations to our customers and partners,” said HPS Group President Mohamed Horani, quoted in the press release.

And continued: “In addition, the group’s ESG commitment is growing stronger every day, and we are proud of the progress made in this area, ensuring our contribution to a sustainable and responsible future.”

HPS is a global leader in providing payment solutions and services to issuers, acquirers, processors, mobile network operators (MNOs), mass retailers, independent sales organizations (ISOs) and serves nationally and regionally throughout the world.