Ciments du Maroc reports profit fall: MAD 2,252 target for Ciments du Maroc stock

Published on 10/14/2026 at 04:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ciments du Maroc stock had MAD 1.833 billion of debt on June 30, 2026. Net profit fell 8.20 percent to MAD 559 million in the first half of 2026.

Profit and balance sheet update

Ciments du Maroc reported consolidated net profit of MAD 559 million for the first half of 2026, down 8.20 percent.
Financial debt declined to MAD 1.833 billion from MAD 2.633 billion by June 30, 2026.
An analyst target of MAD 2,252 was reported for Ciments du Maroc stock on September 22, 2026.

CMA, MA0000010506, Illustration mit AI erstellt.

Ciments du Maroc (MA0000010506) reported consolidated net profit of MAD 559 million for the first half of 2026, down 8.20 percent from MAD 608 million a year earlier, according to Ciments du Maroc on September 24, 2026. The same results release maintained the company objective of improving operating results during fiscal 2026. On September 22, 2026, IT Boltwise reported a MAD 2,252 average analyst target.

Revenue growth masks a weaker base

Operating revenue rose 21.40 percent to MAD 2.661 billion in the first half of 2026 from MAD 2.192 billion on the published comparison basis. The increase included the consolidation of Asment de Temara, acquired on June 30, 2025, so the comparable view was less favorable.

On a pro forma basis, which includes Asment de Temara in the prior-year comparison, operating revenue declined 6.00 percent. Operating profit increased 16.30 percent to MAD 948 million on the published basis, while the company said the comparable figure fell 6.30 percent.

What does the profit decline mean?

The earnings pressure came from the financial charge linked to financing the acquisition and the absence of a disposal gain recorded in the first half of 2025. Excluding non-recurring items, comparable net profit declined 6.70 percent, a smaller reduction than the reported 8.20 percent.

Financial debt fell to MAD 1.833 billion at June 30, 2026, from MAD 2.633 billion at December 31, 2025. That reduction gives the results a second dimension: acquisition financing still weighs on net income, while repayment has reduced the balance-sheet burden.

Analyst target sets a valuation marker

The MAD 2,252 target reported by IT Boltwise on September 22, 2026 stood alongside a quoted MAD 1,634 share price and a 52-week range of MAD 1,555 to MAD 2,140. The target was an analyst estimate rather than a company forecast, so it provides a valuation reference rather than a guaranteed outcome.

Ciments du Maroc is listed on the Casablanca Stock Exchange and operates in construction materials, including cement, ready-mix concrete and aggregates, according to MyStocks Africa. The company said its medium-term outlook remained supported by infrastructure and housing activity in Morocco in its September 24, 2026 results release.

Debt and margins shape the next reading

For investors assessing Ciments du Maroc, the central comparison is between reported growth and comparable performance. Revenue expanded after the acquisition, but the 6.00 percent comparable decline and 6.70 percent adjusted comparable profit decline show why financing costs and integration effects remain important to the earnings picture.

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