Stocks Market
Oulmes Reports 8% Revenue Growth in Q1 2026 Amid Challenging Market Conditions
Les Eaux Minérales d’Oulmes (LEMO) posted an 8.0 % increase in revenue for the first quarter of 2026, reaching DH 651.6 million despite a tough macro‑economic backdrop. The company kept investing – DH 59.5 million in industrial and logistics assets – while net debt rose modestly to DH 2,042 million, reflecting a disciplined financing strategy. Management reaffirmed a cautious yet growth‑oriented outlook, citing geopolitical risks and the need for ongoing cost control.
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Quarterly Performance Overview
Les Eaux Minérales d’Oulmes (LEMO) posted a revenue of DH 651.6 million for Q1 2026, an 8.0 % increase over the same period last year. The growth was achieved despite a challenging climate and geopolitical environment that strained logistics and operational efficiency.
Key Drivers
- Strong brand positioning of Oulmes mineral water in the Moroccan market.
- Effective cost‑management and continuous process optimisation.
- Resilient business model that leveraged the commitment of its workforce.
Investment Activity
In line with its medium‑term development plan, LEMO allocated DH 59.5 million to industrial and logistics projects during the quarter. The spending supports capacity expansion and underlines the company’s ambition to sustain growth.
Debt Profile
Net debt stood at DH 2,042 million as of 31 March 2026, up 4 % year‑on‑year. The rise reflects a structured financing approach aimed at diversifying sources, optimising borrowing costs and matching capital to the firm’s expansion roadmap.
Outlook
Management expects a continued, disciplined expansion. It acknowledges ongoing geopolitical tensions, especially in the Middle East, which could keep energy costs and raw‑material prices volatile. The company will therefore focus on cost control, operational efficiency and agile adaptation to preserve competitiveness and drive sustainable development.
Recent Recognitions
- Top Employer certification for Oulmes Mineral Waters.
- ISO 50001 energy‑management certification.
- Inclusion in Morocco Foodex catalogue.