MUT stock gained 1.30 percent as half-year sales rose

Published on 10/05/2026 at 09:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MUT stock was last at MAD 222.85 on October 2, after first-half revenue rose 7 percent to MAD 962 million. Enosis was valued at MAD 1.7 billion in the proposed deal.

MUT, MA0000012619, Illustration mit AI erstellt.

MUT stock (ISIN MA0000012619) was last at MAD 222.85 on the Casablanca Stock Exchange on October 2, 2026, up 1.30 percent, while first-half revenue reached MAD 962 million. The latest company update combines stronger sales with lower operating profitability and a proposed acquisition in household and personal care.

Revenue rises while margins weaken

According to BMCE Capital Global Research on September 7, 2026, Mutandis reported MAD 961.74 million in first-half revenue, up from MAD 901.73 million in the first half of 2025.

The operating picture was less favorable. EBE declined to MAD 153 million from MAD 163 million, a 6.1 percent decrease, while industrial recurring net income fell to MAD 33 million from MAD 48 million, according to Le Matin on September 7, 2026.

Enosis adds a strategic growth option

Mutandis and Enosis signed a letter of intent for Mutandis to acquire a majority stake in Enosis and its subsidiaries, Le Matin reported on September 7, 2026. The transaction values 100 percent of Enosis at MAD 1.7 billion and would expand Mutandis' presence in household and personal care products through the Mio and Zen brands.

The transaction remains subject to competition approval and a preliminary audit of Enosis' financial statements, according to TelQuel on September 18, 2026. That condition makes execution and purchase financing central to the investment case.

Stock rises on limited volume

Mutandis traded at MAD 222.85 on October 2, 2026, on the Casablanca Stock Exchange, with a 1.30 percent daily gain. The session volume was 629 shares, highlighting the limited turnover behind the move.

For the full year, Mutandis projected 2026 EBE comparable with MAD 315 million achieved in 2025, while first-half capital expenditure reached MAD 70 million and net bank debt stood at MAD 865 million on June 30, 2026, according to Le Matin. The contrast is clear: sales growth is advancing, but input costs and investment spending are weighing on earnings conversion.

Stock stays tied to execution

MUT stock was last at MAD 222.85 on October 2, 2026, after gaining 1.30 percent on the session. The next decisive figures are the progress of the Enosis transaction and the ability to turn higher revenue into stable EBE.