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CTM Reports 21% Revenue Surge in Q1 2026 Driven by Intercity and Maritime Gains
CTM Group posted a strong 21.1% year‑on‑year increase in consolidated revenue for the first quarter of 2026, reaching 401 million Moroccan dirhams. Growth was led by the Intercity and Maritime divisions, while the newly integrated urban transport subsidiaries added a further 68 million MDH to the top line. At the same time, CAPEX fell to 5 million MDH and debt declined by 1.5%, signalling disciplined spending and improving financial health.
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Quarterly Financial Highlights
In the first quarter of 2026, CTM Group posted a consolidated revenue of 401 million Moroccan dirhams (MDH), marking a 21.1 % increase compared with the same period in 2025.
Drivers of Growth
The rise was led by robust performance in the Intercity Transport segment, which also benefited from a healthy tourism transport demand. The maritime arm, operated through AML, continued to expand its services across the Strait of Gibraltar, adding to the group's top line.
Urban transport also gained momentum, contributing 68 million MDH to the total revenue. This boost reflects the recent integration of the subsidiaries Issal Tanger and Issal Fès, which have been consolidated since the fourth quarter of 2025.
Investments and Debt
Capital expenditures (CAPEX) fell to 5 million MDH in Q1 2026, down from 6 million MDH a year earlier, indicating a more disciplined spending approach.
At the end of March 2026, the group's debt stood at 320 million MDH, a 1.5 % reduction from the 31 December 2025 level, thanks to ongoing repayment of financing linked to previous investments.