Managem posts 166 percent revenue growth: what it means for Managem stock

Published on 10/14/2026 at 03:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Managem's first-half revenue reached MAD 11.76 billion, up 166 percent. For Managem stock, net income hit MAD 3.78 billion from MAD 380 million.

New mines reshape Managem

Managem reported first-half 2026 revenue of MAD 11.76 billion, up 166 percent on September 25, 2026.
Net income attributable to shareholders reached MAD 3.778 billion versus MAD 380 million in the first half of 2025.
Operating margin rose to 53 percent from 33 percent in the first half of 2025.

MNG, MA0000012866, Illustration mit AI erstellt.

Managem (ISIN MA0000012866) reported first-half 2026 revenue of MAD 11.76 billion, up 166 percent from MAD 4.42 billion in the first half of 2025, according to Managem on September 25, 2026. The result gives Managem stock a sharper operating-growth profile as two new mines reached nameplate capacity during the period.

What do the new mines mean

Le Matin reported on September 25, 2026 that net income attributable to shareholders rose to MAD 3.77 billion from MAD 380 million in the first half of 2025. The increase was supported by the Tizert mine in Morocco and the Boto mine in Senegal, both of which reached nominal production capacity during the first half.

The operating figures show that the change was not limited to sales. Operating profit reached MAD 4.83 billion, while operating margin rose to 53 percent from 33 percent in the first half of 2025, according to Le Matin.

Three milestones changed the scale

On November 3, 2025, Managem highlighted the official opening of the Boto gold mine, with an investment of EUR 350 million and expected annual production of 160,000 ounces during the first three years.

On May 26, 2026, Managem announced the acquisition of 100 percent of Sound Energy Meridja Limited, adding a 20 percent participating interest in the Tendrara exploitation concession. The sequence shows a business expanding beyond its established mining base while the latest results demonstrate the immediate scale effect of Tizert and Boto.

Profit growth meets consolidation

Managem said the second half of 2026 would be a consolidation phase after the production ramp-up. That framing matters because the first-half revenue comparison combines new mine contributions, higher precious-metal and copper prices, and the consolidation of historical assets, while operational difficulties affected silver production at Imiter and gold production at Tri-K, as Le Matin reported on September 25, 2026.

Casablanca listing and identity

Managem is listed on the Casablanca Stock Exchange under ticker MNG. A company profile from BMCE Capital Bourse identifies Managem with ISIN MA0000012866, while market data identify it as a non-energy minerals listing.