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Stokvis Nord Afrique Q1 2026 Revenue Slides 27% as Order Book Remains Strong
Stokvis Nord Afrique reported a 27 % decline in Q1 2026 revenue, posting 30 million MAD compared with the same period a year earlier. The drop reflects the cyclical nature of its Stokvis Engins subsidiary, where contract notification, execution and billing cycles cause short‑term fluctuations, not a weakening of the underlying order book. The group also trimmed its debt by 20 % to 167 million MAD, citing tighter financial discipline and cost control. With major projects underway and a robust pipeline, the company remains confident about its medium‑term outlook.
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Financial Highlights – Q1 2026
Stokvis Nord Afrique (SNA) generated 30 million MAD in revenue for the first quarter of 2026, a 27 % drop compared with the same period in 2025.
The decline is primarily linked to the non‑linear rhythm of the Stokvis Engins subsidiary. Contract notification, execution and billing cycles in public and private projects create significant inter‑period variations, but these do not undermine the strength of the order book.
Order Book & Upcoming Billings
Several large‑scale contracts are already under execution and will be invoiced in the coming months, confirming a solid pipeline and medium‑term visibility for the group.
Debt Reduction
Group indebtedness fell to 167 million MAD at the end of March 2026, down from 209 million MAD a year earlier – a 20 % reduction**.
The decline reflects the company’s focus on financial discipline, operational efficiency and cost control.
Investments & Divestments
No major investments or disposals were recorded during the quarter.
Outlook
Fully engaged in Morocco’s strategic economic transformation, SNA sees itself as a key partner for infrastructure and industrial logistics. With a strong order book and favourable indicators, the group approaches the remainder of 2026 with confidence, expecting a sustained performance recovery.
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