Here are the main points of the latest “Forecast 2022-2023” report published by BMCE Capital Global Research (BKGR):
– BKGR anticipates an increase in revenues from its Scope 40 of 6.7% to 240.8 billion dirhams (MMDH) compared to 2021.
– This development includes, in particular, an improvement of 4.1% to 55.8 billion dirhams in the net banking income (NBI) of financials and an increase of 7.9% to 165.8 billion dirhams in the turnover of industries.
– In 2023, analysts forecast an increase in turnover of +2.6% to 170 billion dirhams, attributable to the good performance of Blue Chips, in particular Label Vie, Taqa Morocco and Totalenergies Marketing Maroc.
– The margin on commissions and the result on market transactions should increase by 5% and 3% respectively.
– The mass of BKGR Scope 40 dividends should increase, for the year 2022, by 2.5% to 19.7 billion dirhams.
– The dividend yield D/Y (Editor’s note: dividend yield, defined as the ratio between the stock market price and the dividend) should therefore remain almost stable at 3.3% in 2022.
– BKGR is counting on a slight increase in the overall dividend envelope of 1.7% to 20 billion dirhams, raising the D/Y of the market to 3.3%.
– BKGR anticipates an increase in revenues from its Scope 40 of 6.7% to 240.8 billion dirhams (MMDH) compared to 2021.
– This development includes, in particular, an improvement of 4.1% to 55.8 billion dirhams in the net banking income (NBI) of financials and an increase of 7.9% to 165.8 billion dirhams in the turnover of industries.
– In 2023, analysts forecast an increase in turnover of +2.6% to 170 billion dirhams, attributable to the good performance of Blue Chips, in particular Label Vie, Taqa Morocco and Totalenergies Marketing Maroc.
– The margin on commissions and the result on market transactions should increase by 5% and 3% respectively.
– The mass of BKGR Scope 40 dividends should increase, for the year 2022, by 2.5% to 19.7 billion dirhams.
– The dividend yield D/Y (Editor’s note: dividend yield, defined as the ratio between the stock market price and the dividend) should therefore remain almost stable at 3.3% in 2022.
– BKGR is counting on a slight increase in the overall dividend envelope of 1.7% to 20 billion dirhams, raising the D/Y of the market to 3.3%.