Insights

Following its 2025 results, Maroc Telecom’s growth outlook has been reassessed, with updated 2026–2027 forecasts and a revised target price.

In Q3-2025, listed companies saw accelerated revenue growth, led by the construction sector, with record results for Attijariwafa Bank and CIH Bank.

Following the release of FY 2022 annual results, we note 70 listed companies which have published their annual achievements.

In this first edition of the AGR House View, we looked at recent developments within the Moroccan stock market as well as the signals which would argue in favor of a new paradigm starting from 2023.

In a context highlighted by record inflation levels both in Morocco and abroad, listed companies continue to post a sustained growth in their revenue during Q2-22.

The release of Maroc Telecom 2022 mid-term achievements occurs in a context which it is not very favourable to revenue growth.

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.