Insights

At the end of this 1st quarter of 2022, 66 listed companies representing more than 99% of the mar-ket capitalization published their quarterly indicators.

During FY 2021, listed companies annual results were relatively expected by investors, after a less favorable year 2020 marked by the negative repercussions of the health crisis.

After a decline of -1.0% in H1-21, Label Vie recorded an important recovery in its activity in H2-21 of +14.2%. In this context, the Group's consolidated revenue rose by +6.8% in 2021 to MAD 11,758 Mn.

In a context marked by a growth of the Moroccan economy of +4.9% in Q4-21 against a decline of -6.0% during the same quarter of the previous year, listed companies continue to improve their results .

The operational achievements of listed companies in the third quarter of 2021 took place in a favorable economic and stock market context.

Our interest in SNEP stock comes in an unprecedented international context marked by the sustainability of PVC prices at profitable levels rarely observed. During the last three quarters, the price of this product has remained above 1,700 $/T against less than 1,000 $/T historically.

At the end of the 1st half of 2021, Eqdom confirms the recovery of its activity by recording a 48.0% increase in its loan production compared to H1-20 to MAD 1,279 Mn.

At the end of the first two quarters of 2021, SNEP posted revenues up +19.3% and +38.6% respectively. Thus, the half-year turnover settled at MAD 517 Mn, i.e. an increase of +28.0%. This is an achievement rate higher than our initial forecasts, i.e. 55%.

After a drop in its revenue of -28% during Q1-21 following the decline in Lead production, CMT managed to recover its activity by +25% in Q2-21. Under these conditions, we note a slight increase in revenue, i.e. +0.6% during H1-21 to MAD 191 Mn.