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%.
