EQDOM S.A. is Rated AA According to BAC Report
28 Mar 2013 • by Natalie Aster
LONDON – In January Fitch agency has given ‘AA (mar)’ rating to Eqdom S.A., and stated its Support Rating as ‘3’. The Outlook is ‘Stable’. Such strong evaluation is mainly applicable due to support of Eqdom’s major shareholder - Societe Generale, which has got 'A+/Negative. Fitch, however, measures the probability of SG directly supporting Eqdom as moderate. SG is not a majority shareholder, and this fact may affect its decisions regarding its Moroccan subsidiary.
Eqdom is a steadily developing company with strong financials. Half-year period ended June 2012 showed revenue of MAD 437.6 M, gross profit of MAD 272.1 M, operating income of MAD 177.7 M, net income of MAD 109.6 M. it was a good start to exceed the results of the previous FY. The year ended December 2011 brought YoY revenue increase of 4.5% to MAD 886.6 M. Gross profit added 4% and reached MAD 576.5 M. Operating income was 2.8% higher with MAD 409.8 M result. Net income grew by 2.8% to MAD 260.1 M.
Founded in 1974 and based in Casablanca (Morocco), Eqdom S.A. provides credit services to individuals and enterprises in Morocco. Company’s major shareholder is Societe Generale. Its shares are traded at Casablanca Stock Exchange under the ticker EQDM.
Full disclosure on the company’s business, services, financials, SWOT and experts’ forecasts can be found in the report “EQDOM S.A. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
EQDOM S.A. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Mar, 2013
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