CTM reports 22.20 percent revenue growth: what it means for CTM stock

Published on 10/14/2026 at 03:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CTM revenue reached MAD 927 million in the first half of 2026. For CTM stock this means a MAD 13 million loss versus MAD 12 million profit.

First-half figures and margins

CTM reported consolidated revenue of MAD 927 million for the first half of 2026 on October 1, 2026.
Consolidated EBITDA was MAD -39 million, compared with MAD 5 million in the first half of 2025.
Social revenue reached MAD 270 million and social net income rose to MAD 61 million.

CTM, MA0000011074, Illustration mit AI erstellt.

CTM reported consolidated revenue of MAD 927 million for the first half of 2026, up 22.20 percent from MAD 759 million a year earlier, according to Alphabourse on October 1, 2026. The increase puts operating scale in a stronger position, but the consolidated earnings picture moved sharply in the opposite direction.

Revenue grows to MAD 927 million

The first-half revenue increase was linked to the integration of new urban transport subsidiaries in Tangier and Fez, as well as performance in intercity and maritime operations. The AMMC listed CTM's first-half 2026 financial results among issuer publications released between September 30 and October 1, 2026.

What does the loss mean for margins?

Consolidated EBITDA fell to MAD -39 million as of June 30, 2026, from MAD 5 million in the first half of 2025. The result was attributed in the reported figures to higher fuel costs, making cost control the key counterweight to the group's 22.20 percent revenue growth.

Net income attributable to the group turned into a MAD 13 million loss in the first half of 2026, compared with a MAD 12 million profit in the same period of 2025. For CTM stock, the important distinction is therefore between faster top-line expansion and weaker consolidated profitability.

Social accounts show a different trend

CTM's standalone business delivered a more favorable picture. Social revenue rose 7.60 percent to MAD 270 million, social EBITDA increased 7.70 percent to MAD 71 million, and social net income reached MAD 61 million versus MAD 46 million in the first half of 2025, a 32.60 percent increase.

Urban transport adds strategic scale

The company operates passenger transport services in Morocco and has expanded into urban mobility through new subsidiaries. CTM's website describes intercity travel and onboard services as core offerings, while the group's recent revenue mix shows the growing contribution of urban transport alongside intercity and maritime activities.