The financial results of listed companies in 2020 stand out without major surprises for investors. As proof, the low levels of liquidity and volatility which marked the period of the annual release. As a reminder, during the Q1-2021, the market posted a modest average daily volume of MAD 97 Mn combined with a stock market performance ranging from -0.6% and 4.1%.

The release of the 2020 annual results is a real opportunity for us, on the one hand, to assess the operational performance of the listed sectors, and on the other hand, to revise the growth forecasts for our portfolio during the period 2021E-2022E.