BAL, MA0000011991

Balima reports 21 percent operating growth and pays MAD 5.50 per Balima stock

Published on 10/19/2026 at 00:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half rent reached MAD 26.09 million versus MAD 25.24 million on September 30, 2026. Investors received MAD 5.50 per share from Balima stock.

Rental growth and earnings

On September 30, 2026, Balima reported first-half rental revenue of MAD 26.09 million.
Operating profit reached MAD 9.13 million versus MAD 7.52 million in the first half.
Commercial leases generated 76 percent of rental revenue, while the 2025 dividend was MAD 5.50 per share.

BAL, MA0000011991, Illustration mit AI erstellt.

Balima (ISIN MA0000011991) reported first-half operating profit of MAD 9.13 million, up from MAD 7.52 million, while distributing a MAD 5.50 dividend per share. The figures were covered by Dirham Digest on September 30, 2026.

Operating gains outpace rent growth

Rental revenue reached MAD 26.09 million in the first half of 2026, compared with MAD 25.24 million in the year-earlier comparison. That is a 3.37 percent increase, while operating profit rose 21.41 percent from MAD 7.52 million to MAD 9.13 million, according to Dirham Digest.

The stronger operating result did not translate into a comparable increase in net income. First-half net income was MAD 6.12 million, against MAD 6.07 million in the comparison period, as financial and non-current items offset MAD 1.61 million of operating improvement.

What does the margin mean?

The operating margin on rental revenue rose from 29.80 percent to 35.00 percent in the first half of 2026. Commercial leases accounted for 76 percent of rental revenue, compared with 13 percent from housing and 11 percent from professional-use properties.

The mix gives Balima a clear dependence on commercial property income. At the same time, the result shows why operating progress and net income can diverge: financial income moved from MAD 0.17 million to an expense of MAD 0.25 million, while non-current income changed from MAD 0.65 million to an expense of MAD 0.63 million.

Dates and valuation

The AMMC page titled Balima - RFS juin 2026 was dated October 13, 2026 and identifies the first-half 2026 financial report. The page is published by AMMC.

The last quoted Casablanca price was MAD 199.00 on October 12, 2026. The same dated market summary showed a 52-week range of MAD 188.00 to MAD 260.00, placing the quote MAD 61.00 below the upper end of that range.

Commercial property remains central

Balima's commercial leases generated MAD 19.83 million of first-half rental revenue when applying the reported 76 percent mix to MAD 26.09 million. Hotel Balima rehabilitation continued, while renovation work began at Hotel Central and the parking facility.