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SRM Reports 15% Revenue Decline in Q2 2026 Amid Construction Slowdown

SRM posted a revenue of 84.85 million MAD in the second quarter of 2026, down 15% from the same period a year earlier. The decline was driven mainly by a slowdown in its construction division, while the industrial branch continued to grow, posting a 32% increase in sales. EBITDA fell to 4.56 million MAD, a 10% drop year‑on‑year, highlighting the pressure on profitability despite stronger performance in the industrial segment.

July 18th, 2026
2 min read
By boursenews.ma

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Q2 2026 Financial Highlights

Revenue: SRM posted 84.85 million MAD for the quarter, compared with 99.35 million MAD a year earlier, marking a 15% decline.

Units sold: The company delivered 240 machines, down from 355 in Q2 2025, and supplied 30,757 spare parts versus 49,882 in the same period of 2025.

Division Performance

  • Construction (BTP): Revenue fell sharply due to delays in major infrastructure projects, postponed deliveries and a lower than expected order intake. International geopolitical tension also contributed to a cautious market mood.
  • Industrial: The industrial arm posted a 32% revenue increase over the first half of 2025, driven by a 32% rise in material handling activities and a 57% surge in the energy segment, boosted by strong sales of generator sets.

Operational Highlights

SRM highlighted improved control over its long‑term leasing business, a steady flow of commercial offers and a healthy conversion rate on strategic projects.

Profitability

EBITDA: The quarter ended with EBITDA of 4.56 million MAD, down 10% from 5.07 million MAD in Q2 2025. The weaker construction performance weighed on the consolidated gross margin, while the industrial division helped mitigate the overall impact.

Related Articles

  • SRM: Revenue down 28% in Q1 2026 (04 May 2026)
  • SRM: Revenue up 9% in Q4 2025 (25 Feb 2026)
  • SRM: Revenue up 19% in Q3 2025 (03 Nov 2025)
  • SRM: Revenue down 7% as of 30 June 2025 (25 Jul 2025)

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