공시 • 18h
AFMA S.A., Annual General Meeting, Jun 23, 2026 AFMA S.A., Annual General Meeting, Jun 23, 2026. Location: 22 bd moulay youssef, casablanca Morocco New Risk • May 18
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 62% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. New Risk • Mar 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Board Change • Feb 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezzouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezzouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Oct 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported June 2024 fiscal period end). Minor Risks High level of debt (68% net debt to equity). Share price has been volatile over the past 3 months (6.9% average weekly change). Declared Dividend • Aug 22
Dividend increased to د.م60.00 Dividend of د.م60.00 is 9.1% higher than last year. Ex-date: 8th September 2025 Payment date: 17th September 2025 Dividend yield will be 4.4%, which is higher than the industry average of 3.5%. Sustainability & Growth The dividend has decreased over the past 7 years, but has still been somewhat stable with no excessively large reductions to payments. Earnings per share has grown by 4.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • May 09
AFMA S.A., Annual General Meeting, Jun 11, 2025 AFMA S.A., Annual General Meeting, Jun 11, 2025. New Risk • Apr 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (68% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Board Change • Feb 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezzouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezzouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Nov 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (76% net debt to equity). Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Upcoming Dividend • Aug 27
Upcoming dividend of د.م55.00 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 12 September 2024. Payout ratio and cash payout ratio are on the higher end at 92% and 95% respectively. Trailing yield: 4.4%. Within top quartile of Moroccan dividend payers (4.2%). Higher than average of industry peers (3.8%). 공시 • May 14
AFMA S.A., Annual General Meeting, Jun 11, 2024 AFMA S.A., Annual General Meeting, Jun 11, 2024. Reported Earnings • May 03
Full year 2023 earnings released: EPS: د.م60.00 (vs د.م59.32 in FY 2022) Full year 2023 results: EPS: د.م60.00 (up from د.م59.32 in FY 2022). Revenue: د.م258.8m (up 6.2% from FY 2022). Net income: د.م60.0m (up 1.1% from FY 2022). Profit margin: 23% (down from 24% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (122% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Aug 21
Upcoming dividend of د.م55.00 per share at 4.2% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 06 September 2023. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (3.6%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: د.م36.74 (vs د.م33.73 in 1H 2021) First half 2022 results: EPS: د.م36.74 (up from د.م33.73 in 1H 2021). Revenue: د.م134.6m (up 15% from 1H 2021). Net income: د.م36.7m (up 8.9% from 1H 2021). Profit margin: 27% (down from 29% in 1H 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Jul 05
Upcoming dividend of د.م54.00 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 21 July 2022. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 3.9%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (3.4%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Salaheddine Mezouar was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 09
Upcoming dividend of د.م47.00 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 26 August 2021. Trailing yield: 3.8%. Lower than top quartile of Moroccan dividend payers (5.0%). Higher than average of industry peers (2.9%). Is New 90 Day High Low • Feb 12
New 90-day high: د.م1,163 The company is up 14% from its price of د.م1,020 on 13 November 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: د.م1,132 The company is up 9.0% from its price of د.م1,040 on 20 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 01
New 90-day high: د.م1,116 The company is up 11% from its price of د.م1,005 on 02 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Insurance industry, which is also up 11% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: د.م1,050 The company is up 4.0% from its price of د.م1,005 on 15 September 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 06
New 90-day high: د.م1,045 The company is up 4.0% from its price of د.م1,004 on 08 July 2020. The Moroccan market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 1.0% over the same period. Reported Earnings • Oct 05
First half earnings released Over the last 12 months the company has reported total profits of د.م46.2m, down 13% from the prior year. Total revenue was د.م196.3m over the last 12 months, up 3.0% from the prior year.