Stocks Market
Sonasid Q1 2026 Revenue Falls 10% Amid Weather Headwinds, Yet Investment Surge Fuels Growth Outlook
In the first quarter of 2026 Sonasid reported a consolidated turnover of MAD 1.395 billion, down 10 % year‑on‑year, after an unusual rain spell and the shift of Eid al‑Fitr holidays slowed construction activity. Nevertheless, capital spending surged 153 % to MAD 101 billion, driven by a 514 billion‑MAD investment programme that includes a new furnace in Nador and the ongoing modernisation of its steel plant. The company also launched its copper‑and‑aluminium ingot facility in Jorf Lasfar in April, underscoring a strategic move toward high‑value recycling and diversification.
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Key Financial Figures
Consolidated revenue for Q1 2026 reached MAD 1.395 billion, a 10 % decline compared with the same period in 2025.
Social revenue (excluding inter‑company items) stood at MAD 1.427 billion, down 7 % YoY.
Net cash surplus fell to MAD 499 million by the end of March, versus MAD 572 million a year earlier.
Investment Momentum
Capital expenditures jumped to MAD 101 billion in Q1 2026, representing a 153 % increase over Q1 2025. The 2026 investment plan totals MAD 514 billion, with MAD 333 billion earmarked for strategic projects such as a new furnace in Nador and the ongoing modernisation of the steel plant.
Operational Outlook
Exceptional rainfall and the shift of the Eid al‑Fitr holidays temporarily slowed construction activity in the first quarter. The sector is expected to resume its growth trajectory from April onward.
In April 2026 Sonasid launched its copper‑and‑aluminium ingot production unit at Jorf Lasfar, marking a diversification step toward high‑value recycling and added‑value metal streams.
Strategic Plan – “Act For Impact”
Sonasid continues to execute its “Act For Impact” roadmap, focusing on commercial development, sustainable industrial competitiveness, and innovation. Modernising the steel plant remains a cornerstone of the plan, aimed at continuously improving operational performance.
The consolidation scope remained unchanged throughout Q1 2026.