Increase in investments of 15.6% at the end of September

The overall envelope of investments made by companies listed on the Casablanca Stock Exchange amounted to 10.5 billion dirhams (MMDH) at the end of September 2022, up 15.6% compared to the same period one year. previously, according to BMCE Capital Global Research (BKGR).

In detail, 52% of this overall investment envelope was made by Maroc Telecom (+49% to 5.5 billion dirhams), followed by Managem with a 16% share and Label’Vie (8%), making know BKGR in its recent note “Earnings Q3-2022”, noting that the envelope mobilized by IAM essentially concerns the strengthening of Fixed and Mobile Data.

Similarly, Mutandis contributed with +4.3% to almost 166 MDH following substantial investments underway in three new factories.

The note specifies, however, that the upward trend in investments was penalized by the decline recorded by Managem (-15% to 1.4 billion dirhams) following the completion of the TRI-K mine works.

In addition, BKGR indicates that the net debt of listed securities excluding financials increased by +12.2% to 58 billion dirhams at the end of September 2022 compared to December 31, 2021.

By contributor, the incumbent Telecom operator accounts for 30% of overall outstandings, followed by producers of building materials (13%), real estate (16%) and Taqa Morocco with 12%.

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