Ciments du Maroc stock holds at MAD 1,450 as profit falls

Published on 10/08/2026 at 02:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ciments du Maroc stock was last quoted at MAD 1,450 on October 7, 2026, with 5,300 shares traded. First-half profit fell 8.2 percent to MAD 559 million.

CMA, MA0000010506, Illustration mit AI erstellt.

Ciments du Maroc stock was last quoted at MAD 1,450 on the Casablanca Stock Exchange on October 7, 2026, unchanged for the session, with 5,300 shares traded. The companys first-half results show higher reported revenue but lower profit after acquisition-related financing costs.

Revenue rises after acquisition

According to Ciments du Maroc in its results publication dated September 30, 2026, consolidated operating revenue reached MAD 2.661 billion in the first half of 2026, up 21.4 percent year over year. The increase includes the broader consolidation scope created by the Asment de Témara acquisition.

The comparable picture was weaker. Operating revenue fell 6 percent on a like-for-like basis, showing that the headline growth figure primarily reflects the enlarged group perimeter rather than stronger underlying sales.

Profit falls despite operating growth

CemNet reported on September 25, 2026, that consolidated net profit fell 8.2 percent to MAD 559 million in the first half. The company attributed the decline to financing costs linked to the acquisition and the absence of a disposal gain booked in the first half of 2025.

Operating earnings moved in the opposite direction on a reported basis. EBITDA rose 18.6 percent, but declined 4.6 percent on a comparable basis, reinforcing the gap between reported expansion and underlying performance.

Construction demand improves

Le Matin reported on October 5, 2026, that Moroccan cement deliveries reached 1.46 million tonnes in September, up 19.31 percent from 1.22 million tonnes a year earlier. For the first nine months, deliveries totaled 10.98 million tonnes, up 1.17 percent.

The industry figures provide a constructive demand backdrop for Ciments du Maroc, but the companys comparable first-half revenue decline places greater weight on pricing, costs and the contribution from Asment de Témara.

Analyst target remains higher

Investing.com lists a Strong Buy consensus based on one analyst, with an average 12-month price target of MAD 2,252. The same estimate shows MAD 2,252 as both the highest and lowest target, so the consensus represents a single published analyst view rather than a broad range.

Stock stays at MAD 1,450

Ciments du Maroc stock was last quoted at MAD 1,450 on the Casablanca Stock Exchange on October 7, 2026, with a session high of MAD 1,516, a session low of MAD 1,450 and turnover of MAD 7.7 million. The unchanged session leaves the half-year comparison and the integration of Asment de Témara as the main figures for assessing the shares.