BOURSSOLE Logo
BOURSSOLEYour smart investing compass
Stocks Market

Stocks Market

Casablanca Stock Exchange Shows 6.5% Surge in Consolidated Revenue for Listed Companies by Q3 2025

The consolidated turnover of companies listed on the Casablanca Stock Exchange reached **MAD 248.4 bn** at the end of September 2025, registering a **6.5 % increase** over the same period a year earlier. The growth was driven primarily by the construction, banking, distribution, insurance and health sectors, with the construction industry leading the pack thanks to major sporting‑event projects such as the 2025 African Cup of Nations and the 2030 World Cup bid. National economic data also point to a modest slowdown in GDP growth, from 5.5 % in Q2 to **4.3 % in Q3 2025**, while non‑agricultural sectors continue to benefit from infrastructure investments and climate‑adaptation programmes.

December 2nd, 2025
2 min read
By boursenews.ma

Listen to this article

Unlock audio versions of premium articles and more with a Pro subscription.

Upgrade to Unlock

Revenue Overview (Q3 2025)

The consolidated turnover of all listed companies on the Casablanca Stock Exchange (CSE) reached MAD 248.4 bn at the end of September 2025, a 6.54 % increase compared with MAD 233.1 bn recorded for the same period in 2024, according to M.S.IN analysts.

Macro backdrop

After a 2024 year marked by a gradual easing of inflationary pressures, the first nine months of 2025 were characterised internationally by heightened uncertainty – a result of the United States’ new trade stance, ongoing conflicts in the Middle East and the war in Ukraine. The IMF now projects global growth of 3.2 % in 2025, slightly below the 3.3 % forecast for 2024.

Domestically, the Haut-Commissariat au Plan (HCP) reports that national economic activity grew by 4.3 % in Q3 2025 after a 5.5 % rise in Q2. Agricultural value‑added climbed 4.3 %, while secondary‑sector growth moderated to 4.4 %. Bank Al‑Maghrib expects the non‑agricultural momentum to persist, supported by infrastructure spending aimed at climate‑resilience and the preparation for major international sporting events slated for 2030.

Sector‑by‑sector performance

  • Construction (BTP): +MAD 4.8 bn (+22.6 %). The sector benefitted from accelerated works on the 2025 African Cup of Nations venues and the 2030 FIFA World Cup bid.
  • Banking: +MAD 4.3 bn (+6.3 %). Main contributors were BOA (+MAD 1,227 m), ATW (+MAD 1,181 m) and BCP (+MAD 813 m).
  • Distribution: +MAD 2.3 bn (+13.2 %). Driven by Label Vie (+MAD 1,505 m) and Auto Hall (+MAD 600 m).
  • Insurance: +MAD 1.3 bn (+6.9 %). Led by Wafa Assurance (+MAD 774 m) and Atlanta Sanad (+MAD 588 m).
  • Health: +MAD 1.2 bn (+48.3 %). AKDITAL contributed MAD 1.1 bn, while Vicenne added MAD 139 m.

Outlook

With solid earnings growth across core sectors and continued public‑investment programmes, analysts anticipate that the CSE’s revenue base will keep expanding throughout 2025, even as global uncertainty tempers overall GDP growth.

CSEMA:BOA Data

Discussion (0)