Ciments du Maroc reports first-half results: what it means for Ciments du Maroc stock

Published on 10/02/2026 at 03:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 21.40 percent in the first half of 2026, while net income fell 8.20 percent. For Ciments du Maroc stock, one analyst targets MAD 2,252.

CMA, MA0000010506, Illustration mit AI erstellt.

Ciments du Maroc (MA0000010506) reported consolidated operating revenue of MAD 2.661 billion for the first half of 2026, up 21.40 percent from the first half of 2025. The company released the figures on September 25, 2026, and confirmed its goal of improving operating results for fiscal year 2026, according to Ciments du Maroc.

Revenue grew as profit declined

Operating profit increased 16.30 percent to MAD 948.0 million in the first half of 2026, while consolidated net income declined 8.20 percent to MAD 559.0 million. The figures show a clear split between operating performance and financing pressure.

The company said the revenue increase reflected the broader consolidation scope after its acquisition of Asment de Temara. On a comparable basis, operating revenue fell 6.00 percent, and operating profit decreased 6.30 percent, according to Ciments du Maroc.

Debt fell after the acquisition

Financial debt stood at MAD 1.833 billion on June 30, 2026, down from MAD 2.633 billion at December 31, 2025. That reduction is important because the company linked the lower net income partly to financing costs associated with the Asment de Temara acquisition.

The company also reported that the Moroccan cement market contracted 1.30 percent in the first half of 2026 as heavy rainfall disrupted construction activity. Ciments du Maroc maintained its fiscal-year objective of improving operating results despite the weaker comparable revenue trend.

Analyst target stays above market price

Investing.com lists one analyst target of MAD 2,252 for Ciments du Maroc. Against the MAD 1,550 market price shown for September 25, 2026, that target lies 45.29 percent above the price, although the target is a third-party estimate rather than company guidance.

Stock remains near yearly low

Ciments du Maroc closed at MAD 1,550.00 on the Casablanca Stock Exchange on September 25, 2026. The same market snapshot places the 52-week range at MAD 1,550.00 to MAD 2,065.00, leaving the stock at its reported yearly low and putting the earnings comparison at the center of the valuation debate.