Maroc Leasing, a key player in Morocco’s leasing finance sector, reported mixed results for the first nine months of 2024. Operating in a constantly evolving economic environment, the company faced challenges that pressured margins and dampened demand, despite some indicators showing resilience.
By the end of September, Maroc Leasing’s production reached 2.45 billion dirhams, a significant decline of 16.8% compared to the same period in 2023. This decrease was largely driven by less favorable economic conditions, which impacted upfront increased rents (PLM), subsequently reducing net banking income (NBI) by 13.8%, to 235.23 million dirhams.
Despite these headwinds, the consolidated revenue showed slight growth, rising 2.5% to 3.02 billion dirhams. This improvement underscores Maroc Leasing’s ability to adapt and maintain some stability through its diversified activities and optimized commercial strategies.
The company demonstrated effective financial management, with total debt standing at 10.72 billion dirhams at the end of September 2024, reflecting a 1.65% decrease from December 2023. This reduction was primarily attributed to a decline in private debt, highlighting Maroc Leasing’s cautious approach to managing its financial structure while supporting operations.
The financial portfolio totaled 12.45 billion dirhams, a marginal drop of 2.03% compared to the end of 2023, reflecting the company’s gradual adaptation to a slowing market.
Net profit for Maroc Leasing came in at 69.41 million dirhams, a 7.3% decrease compared to the same period in 2023. This decline was mainly due to the impact of PLM on net banking income, reflecting ongoing pressure in an increasingly demanding economic environment.
As the company works to maintain its solid financial management, addressing challenges such as reduced production and tighter margins will require a strategic recalibration. Maroc Leasing must enhance its market appeal while continuing to optimize its financial structure.
With its extensive experience and proven adaptability, Maroc Leasing remains a central player in Morocco’s leasing sector, striving to meet the evolving financing needs of Moroccan businesses in a complex economic landscape.
