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MANAGEM Surpasses 3.78 Billion MAD Profit in Q1 2026 Driven by New Mines
MANAGEM has delivered exceptional results in the first half of 2026, posting a net profit of 3.78 billion MAD—up 166% from the previous period. The group's consolidated revenue reached 11.76 billion MAD, fueled by the successful commissioning of the Tizert mine in Morocco and the Boto mine in Senegal. Strong appreciation in gold, silver, and copper prices further boosted performance, though operational challenges at some sites tempered gains. The company's gross operating surplus jumped over 300% and its EBIT margin improved to 53%, signaling robust operational efficiency.
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MANAGEM has surpassed expectations in the first half of 2026, delivering a net profit of 3.78 billion MAD—a remarkable 166% increase compared to the same period last year.
The group's consolidated revenue reached 11.76 billion MAD, reflecting strong performance across its portfolio. Two newly commissioned mines—the Tizert operation in Morocco and the Boto mine in Senegal—were pivotal drivers of this growth, both reaching their nominal capacity during the semester.
Beyond these projects, favorable macro factors contributed significantly. Rising global prices for gold, silver, and copper added substantial value to the group's bottom line. However, the company noted operational setbacks at the Imiter site (silver production) and Tri-K (gold production), which partially offset the upside.
Operational metrics show impressive strength: the gross operating surplus climbed over 300% year-over-year, and the enterprise value-to-ebitda (EBIT) margin improved to 53%, up from 33% in H1 2025. The operating result stood at 4.83 billion MAD, while the financial result remained negative at -109 million MAD.
Looking ahead, MANAGEM expects the second half of 2026 to focus on consolidation around these new assets, building on the momentum established by the successful launch of Tizert and Boto.