Morocco: Ciments du Maroc closed the first half of 2026 with a consolidated net profit of US$58.5m, a year-on-year fall of 8.2%. According a company statement, this decline primarily reflects the financial cost associated with financing the acquisition of Asment de Témara, as well as an exceptional income from an asset disposal in the first half of 2025. The company’s profit fell by 22.3% year-on-year in absolute terms, but fell by 6.7% on a like-for-like basis.
The first half of 2026 was marked by heavy rainfall in Morroco, which disrupted the pace of construction sites. Against this backdrop, the national cement market contracted by 1.3% compared to the first half of 2025. Despite a recovery in subsequent months, performance remained below that of the same period in 2025. Ciments du Maroc highlighted that it has successfully maintained cost control through industrial excellence programmes, the commissioning of photovoltaic solar power plants in Aït Baha and Safi and ‘rigorous’ management of operating expenses.
For the full 2026 financial year, Ciments du Maroc maintains its objective of improving operating results, despite its first half performance. The group appears to be banking on the continuation of major infrastructure projects, housing support measures and an interest rate environment favourable for residential investment.
