FINANCIAL MARKET HEADLINES
| MOROCCO | ADDOHA | A loss of MAD -80 Mn in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
2 017 |
438 |
-78,3% |
|
EBIT |
427 |
-166 |
MAD -593 Mn |
|
EBIT margin |
21,2% |
NS |
- |
|
NIGS |
340 |
-80 |
MAD -421 Mn |
|
Net margin |
16,9% |
NS |
- |
| MOROCCO | RDS | A loss of MAD -36 Mn in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
616 |
473 |
-23,3% |
|
EBIT |
144 |
-3 |
MAD -147 Mn |
|
EBIT margin |
23,3% |
NS |
- |
|
NIGS |
84 |
-36 |
MAD -120 Mn |
|
Net margin |
13,6% |
NS |
- |
| MOROCCO | SALAFIN | Net income down 75% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
NBI |
221 |
183 |
-17,4% |
|
EBIT |
112 |
30 |
-73,2% |
|
EBIT margin |
50,6% |
16,4% |
-34,2 pts |
|
Net income |
72 |
18 |
-74,9% |
|
Net margin |
32,6% |
9,9% |
-22,7 pts |
| MOROCCO | ALUMINIUM DU MAROC | Net income down 82% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
437 |
329 |
-24,6% |
|
EBIT |
40 |
8 |
-80,7% |
|
EBIT margin |
9,3% |
2,4% |
-6,9 pts |
|
Net income |
34 |
6 |
-82,1% |
|
Net margin |
7,7% |
1,8% |
-5,9 pts |
| MOROCCO | DARI COUSPATE | Net income down 6% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
286 |
329 |
15,1% |
|
EBIT |
44 |
48 |
7,0% |
|
EBIT margin |
15,5% |
14,4% |
-5,6% |
|
Net income |
34 |
32 |
-84,2% |
|
Net margin |
11,7% |
9,6 |
-2,1 pts |
| MOROCCO | MAGHREBAIL | Net income down 84% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
NBI |
188 |
189 |
0,9% |
|
EBIT |
104 |
23 |
-78,3% |
|
EBIT margin |
55,4% |
11,9% |
-43,5 pts |
|
Net income |
53 |
8 |
-84,2% |
|
Net margin |
28,4% |
4,4% |
-24,0 pts |
| MOROCCO | NEXANS MAROC | NIGS down 44% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
950 |
886 |
-6,7% |
|
EBIT |
55 |
46 |
-16,2% |
|
EBIT margin |
5,8% |
5,2% |
-0,6 pts |
|
NIGS |
25 |
14 |
-44,3% |
|
Net margin |
2,7% |
1,6% |
-1,1 pts |
| MOROCCO | CTM | A loss of MAD -45 Mn in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
299 |
174 |
41,7% |
|
EBIT |
26 |
-51 |
MAD -77 Mn |
|
EBIT margin |
8,6% |
NS |
- |
|
NIGS |
14 |
-45 |
MAD -59 Mn |
|
Net margin |
4,8% |
NS |
- |
| MOROCCO | TIMAR | A loss of MAD -2 Mn in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
257 |
202 |
-21,5% |
|
EBIT |
14 |
2 |
-87,7% |
|
EBIT margin |
5,4% |
0,8% |
-4,6 pts |
|
NIGS |
6 |
-2 |
MAD -8 Mn |
|
Net margin |
2,4% |
NS |
- |
| MOROCCO | INVOLYS | Net income down 39% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
20 |
19 |
-3,7% |
|
EBIT |
1 |
3 |
MAD +2 Mn |
|
EBIT margin |
4,2% |
14,4% |
+10,2 pts |
|
Net income |
2 |
1 |
-39,2% |
|
Net margin |
9,5% |
6,0% |
-3,5 pts |
| MOROCCO | IB MAROC | A loss of MAD -5 Mn in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
17 |
6 |
-63,9% |
|
EBIT |
-7 |
-3 |
MAD +4 Mn |
|
EBIT margin |
NS |
NS |
- |
|
Net income |
-10 |
-5 |
MAD +5 Mn |
|
Net margin |
NS |
NS |
- |
| MOROCCO | BALIMA | Net income down 17% in H1 2020
|
Indicators (MAD Mn) |
H1 2019 |
H1 2020 |
Variation |
|
Revenue |
23 |
23 |
-1,3% |
|
EBIT |
6 |
8 |
25,2% |
|
EBIT margin |
26,8% |
34,0% |
+7,2 pts |
|
Net income |
7 |
6 |
-16,9% |
|
Net margin |
31,7% |
26,7% |
-5,0 pts |
ECONOMIC HEADLINES
| MOROCCO | GDP | A decrease of -14.9% in Q2 2020
According to HCP, the Moroccan economy declined by -14.9% in Q2 2020 taking into account a drop of -15.5% in non-crop activities and -6.9% in crop activities.
| TUNISIA | KEY RATE | BCT cuts the key rate by 50 BPS to 6.25%
The Board of Directors of the Central Bank of Tunisia held on September 30th, 2020, decided to lower the key interest rate from 6.75% to 6.25%.
