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Ciments du Maroc rebounds in Q2 2026, eyes full‑year targets

After a rain‑soaked first quarter, Ciments du Maroc posted a strong recovery in the second quarter of 2026. Consolidated sales reached 46 % of the annual forecast set by BMCE Capital Global Research, which continues to recommend a buy with a target price of 2.150 MAD. Revenue grew 18 % YoY to MAD 1.12 bn, while debt fell sharply after partial repayment of the loan used for the Asment de Témara acquisition. The broker expects the company to meet its 2026 earnings and dividend outlook, though it warns of price‑risk on petcoke and a heavy reliance on the housing market.

August 12th, 2026
2 min read
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Expert Summary

After a rain‑soaked first quarter, Ciments du Maroc posted a strong recovery in the second quarter of 2026. Consolidated sales reached 46 % of the annual forecast set by BMCE Capital Global Research, which continues to recommend a buy with a target price of 2.150 MAD. Revenue grew 18 % YoY to MAD 1.12 bn, while debt fell sharply after partial repayment of the loan used for the Asment de Témara acquisition. The broker expects the company to meet its 2026 earnings and dividend outlook, though it warns of price‑risk on petcoke and a heavy reliance on the housing market.

After a rain‑soaked first quarter, Ciments du Maroc posted a strong recovery in the second quarter of 2026. Consolidated sales reached 46 % of the annual forecast set by BMCE Capital Global Research, which continues to recommend a buy with a target price of 2.150 MAD. Revenue grew 18 % YoY to MAD 1.12 bn, while debt fell sharply after partial repayment of the loan used for the Asment de Témara acquisition. The broker expects the company to meet its 2026 earnings and dividend outlook, though it warns of price‑risk on petcoke and a heavy reliance on the housing market.

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