The overall revenues of companies listed on the Casablanca Stock Exchange amounted to 282.2 billion dirhams (MMDH) in 2022, up 13.9% compared to 2021, according to BMCE Capital Global Research (BKGR).
This increase is due to double-digit growth in the activity of industries (+18.2% to 187.6 billion dirhams), combined with a good orientation of the net banking income of financials (+5.9% to 72.7 billion dirhams), as well as the increase in gross written premiums in the insurance & brokerage sector (+8.3% to 22 billion dirhams), explains BKGR in its publication “Earning Q4-2022”, noting that these revenues show an increase of 19 % compared to 2019.
In detail, the increase in income from industrial companies mainly follows an improvement in the turnover of TotalEnergies Marketing Morocco, which rose by 53.2% to 19.72 billion dirhams despite a decline in volumes sold by 2%. at 1,749 KT, thanks to a favorable price effect following the surge in international hydrocarbon prices, reports MAP.
This orientation would also have been supported by investments in service stations with 18 new openings in 2022, bringing the operator’s network to 386 points of sale at the end of the year.
These are also the commercial achievements of Taqa Morocco, whose consolidated turnover jumped 74.1% to 13.6 billion dirhams following the positive effect of the sharp rise in energy costs in connection with the evolution of prices on the international market and the improvement of the overall availability rate to 93.9% against 92.8% in the same period a year earlier, taking into account the completion of only minor revisions of 25 days of 3 units and 4 in 2022 and the non-recurrence of the 61-day Unit 6 major overhaul in 2021.
It also follows the increase in sales of Afriquia Gaz by 33.3% to 9.51 under the combined effect of the performance of the subsidiaries and the evolution of take-back prices compared to the same period a year earlier. early for tonnages sold in limited growth of 1.9% to 1,182 KT, and consolidated turnover of Managem by 30% to 9.64 billion dirhams.
Financials posted net banking income (NBI) up 5.9%, from all listed banks, despite the negative impact of the rise in money and bond rates in Morocco. This development was mainly driven by Attijariwafa Bank (+1.93 billion dirhams) and by BOA (+1.02 billion dirhams).
Revenue from the insurance & brokerage sector rose by 8.3%, mainly benefiting from the good performance of the commercial performances of Wafa Assurance and Sanlam Maroc.
In addition, the publication highlights that the main contributors to the increase in turnover in 2022 are gas operators (9.24 billion dirhams), ahead of electricity (+5.79) and agrifood (+5.07). Conversely, specialized distribution weighs down the evolution of cumulative income by 435 million dirhams (MDH), given the deterioration in automobile sales.