Disway reports 20 percent profit growth: what it means for Disway stock

Published on 10/19/2026 at 01:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit rose 20.00 percent to MAD 60 million in the first half of 2026. Disway stock had MAD 1.089 billion in group revenue and MAD 77 million in operating profit.

Growth meets funding needs

On September 28, 2026, consolidated net profit rose 20.00 percent.
First-half group revenue reached MAD 1.089 billion.
Consolidated inventories stood at MAD 358.8 million in June 2026.

DWY, MA0000011637, Illustration mit AI erstellt.

Disway (MA0000011637) reported a 20.00 percent rise in consolidated net profit to MAD 60 million for the first half of 2026. The September 28, 2026 analysis by Dirham Digest linked the improvement to stronger group activity and regional expansion.

First-half figures improve

Group revenue reached MAD 1.089 billion in the first half, up 14.00 percent from the comparable period. Operating profit rose 33.00 percent to MAD 77 million, while the operating margin increased from 6.10 percent to 7.10 percent, according to Dirham Digest.

The consolidated result was stronger than the parent company's standalone performance. Disway SA reported revenue of MAD 750.4 million, down 7.00 percent, while standalone net profit fell from MAD 40.3 million to MAD 36.3 million in the first half, the same analysis said.

What does the cash use mean?

The stronger group result came with a heavier working-capital commitment. Consolidated inventories rose from MAD 234.5 million in December to MAD 358.8 million in June, while customer receivables increased from MAD 535.2 million to MAD 606.1 million, according to Dirham Digest. For investors, the key trade-off is visible in the figures: expansion is lifting operating profit, but stock and receivables absorb more funding.

The company is also extending its distribution activity in the region. The September analysis cited new Lexar distribution agreements in Morocco and Tunisia, alongside partnerships involving TCL and Dome Solar. These developments broaden the business footprint, while product-price changes can still affect individual activity lines and margins.

Growth depends on execution

Disway's first-half picture combines higher consolidated sales with stronger operating profit and a larger balance-sheet commitment. The difference between group and standalone figures makes the geographic expansion central to the investment case, while inventory rotation and customer collections remain important operating markers.