Ciments du Maroc maintains 2026 outlook for Ciments du Maroc stock

Published on 10/01/2026 at 12:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Operating revenue rose 21.40 percent to MAD 2.661 billion in the first half of 2026. Ciments du Maroc stock tracks MAD 1.833 billion in debt.

CMA, MA0000010506, Illustration mit AI erstellt.

Ciments du Maroc (MA0000010506) maintained its objective of improving operating results in fiscal year 2026, a message that keeps the company's outlook intact for Ciments du Maroc stock. According to Ciments du Maroc in its release dated September 25, 2026, the group reported first-half figures after reviewing its activity on September 24, 2026.

Revenue grows after acquisition

Consolidated operating revenue reached MAD 2.661 billion in the first half of 2026, up 21.40 percent from MAD 2.192 billion in the first half of 2025. The increase included the broader consolidation scope created by the acquisition of Asment de Témara on June 30, 2025, according to CemNet on September 25, 2026.

The comparison changes materially on a pro forma basis. Revenue was MAD 2.830 billion in the first half of 2025 after including Asment de Témara, leaving comparable revenue 6.00 percent lower in the first half of 2026.

Profit falls as debt weighs

Consolidated operating profit increased 16.30 percent to MAD 948.0 million in the first half of 2026 from MAD 815.0 million a year earlier. Consolidated net profit moved in the opposite direction, falling 8.20 percent to MAD 559.0 million from MAD 608.0 million, with financing costs linked to the acquisition weighing on the result, according to Ciments du Maroc.

Financial debt stood at MAD 1.833 billion at June 30, 2026, down from MAD 2.633 billion at December 31, 2025. The reduction shows that the acquisition financing burden is being addressed, although the lower comparable revenue and weaker net profit remain important counterweights to the operating-profit improvement.

Stock remains tied to Casablanca

Ciments du Maroc is listed on the Casablanca Stock Exchange under ticker CMA and operates in cement, ready-mix concrete and aggregates. The company's first-half release also reported social revenue of MAD 2.042 billion, up 5.30 percent from the first half of 2025, while social net profit fell 16.60 percent to MAD 581.0 million.

The Casablanca Stock Exchange close for September 30, 2026 was MAD 1,534.00, down 2.90 percent on the session, according to Yuna. The next market read-through is whether operating improvement can persist while comparable demand and financing costs remain visible in the reported numbers.