Morning Brief - 1er juin 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | SALAFIN | NBI up 1% in Q1 2023
At the end of March 2023, Salafin's NBI stood at MAD 95.1 Mn, i.e. a slight increase of 0.8% compared to the same period of the previous year.

| MOROCCO | PROMOPHARM | Revenue up 3% in Q1 2023
In Q1 2023, Promopharm's revenue amounted to MAD 171.7 Mn, i.e. an increase of 3.2% compared to the same period of the pre-vious year.

| MOROCCO | SANLAM MAROC | Revenue up 7% in Q1 2023
In Q1 2023, Sanlam Maroc's revenue reached MAD 2,193 Mn, increasing by 7.2% compared to the same period of the previous year.

| MOROCCO | SONASID | Consolidated revenue almost stable in Q1 2023
In Q1 2023, Sonasid's consolidated revenue amounted to MAD 1,343 Mn, down slightly by 0.2% compared to the same period of the previous year.
Meanwhile, Sonasid forecasts a significant drop in the parent company net income during H1 2023, within an international context marked by the decline in Demand and increased pressure on steelmakers' margins.

| MOROCCO | RDS | Consolidated revenue up 13% in Q1 2023
In Q1 2023, the consolidated revenue of RDS shows an increase of 13.3% to MAD 51 Mn. Meanwhile, the Group's presales fell by 15.5% during the same period to 503 units.

| MOROCCO | S2M | Consolidated revenue up 1% in Q1 2023
In Q1 2023, the consolidated revenue of S2M stood at MAD 59.4 Mn, i.e. a slight increase of 0.7% compared to the same period of the previous year.

| MOROCCO | CTM | Consolidated revenue up 14% in Q1 2023
At the end of March 2023, CTM's consolidated revenue settled at MAD 144 Mn, i.e. an increase of 13.7% compared to the same period of the previous year.

| MOROCCO | MAGHREBAIL | Revenue up 3% in Q1 2023
At the end of March 2023, Maghrebail's revenue stood at MAD 948 Mn, increasing by 2.7% compared to the same period of the previous year.

| MOROCCO | STOKVIS | Revenue down 2% in Q1 2023
At the end of March 2023, Stokvis' revenue amounted to MAD 50 Mn, showing a decline of 2% compared to the same period of the previous year.

| MOROCCO | STROC INDUSTRIE | Revenue up 66% in Q1 2023
At the end of March 2023, Stroc Industrie's revenue reached MAD 26.9 Mn, i.e. an increase of 66.0% compared to the same period of the previous year.

ECONOMIC HEADLINES
| MOROCCO | BANKING LOANS | An increase of 6% at the end of April 2023
At the end of April 2023, the net outstanding of bank loans amounted to MAD 1,035.0 Bn, slightly down 0.3% compared to March 2023 and up 5.6% y-o-y. Mortgage loans (MAD 301.2 Bn), treasury loans (MAD 248.6 Bn), equipment loans (MAD 182.4 Bn) and consumer loans (MAD 57.8 Bn) show respective increases of 2.1%, 5.2%, 5.3% and 2.6% compared to the same period of last year. Finally, nonperforming loans stood at MAD 92.0 Bn, up 6.9%.

Read More.