Morning Brief - february 15th, 2021

FINANCIAL MARKET HEADLINES

| MOROCCO | AFRIQUIA GAZ | Consolidated net income down 48% in 2020, DPS stable at MAD 125

Indicators (MAD Mn)	2019	2020	Change
Revenue	6 348	5 716	-9,9%
EBIT	978	493	-49,6%
EBIT margin	15,4%	8,6%	-6,8 pts
Net income	699	362	-48,2%
Net margin	11,0	6,3%	- 4,7 pts
DPS (MAD)	125	125	-

 

| MOROCCO | COLORADO | Revenue down 8% in 2020

In 2020, Colorado's sales volume fell by 2.0% to 42.5 KT. In this context, the operator’s revenue declined by 7.8% during the same period to MAD 461.6 Mn. In addition, Colorado forecasts a net income 2020 much lower than that of 2019 but which remains largely positive, significantly improving the result recorded at the end of June 2020.

| MOROCCO | MAGHREB OXYGÈNE | Profit warning

In a press release, Maghreb Oxygène forecasts a drop of 24% in its parent company’s net income compared to 2019 due to the impact of the difficult economic situation given the Covid-19 health crisis. Meanwhile, the consolidated net income 2020 should remain stable during this period.

| MOROCCO | CSE | Investors’ profile in Q4 2020

In Q4 2020, Moroccan legal entities monopolized 46% of the volume traded on the central market. For their part, UCITS concentrated 26% of the volume. Finally, Moroccan individuals and foreign legal entities represented respectively 16% and 9% of the total transactions’ flow.

ECONOMIC HEADLINES

| TUNISIA | WORKERS REMITTANCES | An increase of 5% in January 2021

In January 2021, Tunisian workers remittances increased by 4.7% to TND 507.9 Mn against TND 485.0 Mn during the same period of the previous year.

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