Casablanca Stock Exchange: Total Revenue of Listed Companies Increases by 7% in H1 2025

After a year in 2024 marked by a reduction in inflationary pressures, the first half of 2025 unfolded in a more uncertain international context, influenced by new U.S. trade policies and ongoing conflicts in the Middle East and Ukraine. According to the latest IMF forecasts, global growth is expected to reach 3.0% in 2025, down from 3.3% in 2024. On the national level, the Moroccan economy recorded notable progress, with a growth rate of 4.8% in the first quarter of 2025, compared to 3% a year earlier. Non-agricultural activities grew by 4.6%, while the agricultural sector increased by 4.5%, supported by a favorable cereal campaign yielding 44 million quintals, a 41% increase compared to 2024. Bank Al-Maghrib anticipates the continuation of this positive trend, bolstered by infrastructure investments and preparations for major international sporting events, including the Africa Cup of Nations 2025 and the 2030 World Cup. In this context, the Casablanca Stock Exchange confirmed its positive momentum in the first half of 2025. According to M.S.IN, the aggregated revenue of listed companies reached 165.2 billion dirhams, marking a 7.1% increase compared to the same period in 2024. This rise of 10.9 billion dirhams is primarily attributed to the banking, construction, insurance, distribution, and healthcare sectors. The banking sector remains the main driver of the market, contributing an additional 3.5 billion dirhams, a 7.8% increase. Key players such as BCP (+1.1 billion dirhams), BOA (+915 million dirhams), and Attijariwafa Bank (+673 million dirhams) supported this performance. The construction sector followed with a remarkable growth of 22.8%, adding 3.2 billion dirhams, benefiting from the acceleration of projects related to the Africa Cup of Nations 2025 and the 2030 World Cup. In addition, the insurance sector saw an increase of 8.7%, contributing 1.2 billion dirhams, driven by Wafa Assurance (+734 million dirhams) and Atlanta Sanad (+567 million dirhams). Distributors advanced by 10.4%, adding 1.2 billion dirhams, primarily thanks to Label Vie (+944 million dirhams) and Auto Hall (+264 million dirhams). The healthcare sector exhibited the highest relative growth at 62%, contributing 1 billion dirhams. Akdital recorded an increase of 840 million dirhams, of which 560 million dirhams were linked to new openings, while Vicenne, a new entrant on the Casablanca Stock Exchange, contributed 161 million dirhams.