Mutandis Navigates Turbulent H1 2026 with Resilient Growth Despite Iran War Pressures

Moroccan consumer goods group Mutandis delivered 7% revenue growth in H1 2026 to MAD 962 million, accelerating to 20% in Q2, despite margin pressures from Iran war-related commodity inflation. While EBITDA slipped to MAD 153 million from MAD 163 million year-over-year due to an estimated MAD 78 million full-year impact from surging petrochemical and packaging costs, management maintains guidance for stable full-year EBITDA matching 2025's MAD 315 million. Strong performance across hygiene products, canned fish, and the US Season brand offset challenges in fruit beverages, positioning the company for continued growth as input costs normalize.

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