Announcement • Apr 02
Société Maghrébine de Crédit-bail, Annual General Meeting, May 13, 2026 Société Maghrébine de Crédit-bail, Annual General Meeting, May 13, 2026. Location: casablanca Morocco Reported Earnings • Mar 26
Full year 2025 earnings released Full year 2025 results: Revenue: د.م4.13b (up 7.2% from FY 2024). Net income: د.م148.2m (up 9.3% from FY 2024). Profit margin: 3.6% (in line with FY 2024). New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.7% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change). Board Change • Feb 17
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. 1 independent director (8 non-independent directors). Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. 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 There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. 1 independent director (8 non-independent directors). Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. 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 21
Upcoming dividend of د.م53.00 per share Eligible shareholders must have bought the stock before 27 August 2025. Payment date: 08 September 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Moroccan dividend payers (4.0%). Higher than average of industry peers (2.7%). New Risk • May 09
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2023. 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 Risks Latest financial reports are more than 1 year old (reported December 2023 fiscal period end). Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • Mar 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 25
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 19
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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jun 27
Upcoming dividend of د.م50.00 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 15 July 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 5.1%. Within top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (5.6%). Announcement • Apr 11
Société Maghrébine de Crédit-bail, Annual General Meeting, May 29, 2024 Société Maghrébine de Crédit-bail, Annual General Meeting, May 29, 2024. Board Change • Apr 09
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 19
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 05
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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: Major Risks Debt is not well covered by operating cash flow (0.3% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • Aug 22
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 31
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Samir Oudghiri was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 11
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. 2 experienced directors. 5 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Mar 08
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. 2 experienced directors. 5 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Feb 14
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. 2 experienced directors. 5 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Jan 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. 2 experienced directors. 5 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Jan 03
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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 13
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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Oct 17
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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Sep 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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Aug 01
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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Jun 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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Jun 23
Upcoming dividend of د.م50.00 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 13 July 2022. Trailing yield: 3.4%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (5.6%). 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. 3 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Jan 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Chakib Bennani was the last independent director to join the board, commencing their role in 1998. 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 • Oct 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). Independent Director Mohammed Benhalima was the last independent director to join the board, commencing their role in 2020. 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 • Jun 24
Upcoming dividend of د.م30.00 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 12 July 2021. Trailing yield: 3.7%. Lower than top quartile of Moroccan dividend payers (4.6%). Lower than average of industry peers (5.6%). Reported Earnings • Jun 05
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: د.م3.50b (up 5.7% from FY 2019). Net income: د.م64.2m (down 40% from FY 2019). Profit margin: 1.8% (down from 3.2% in FY 2019). The decrease in margin was driven by higher expenses.