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Holcim Maroc Q1 2026 Revenue Falls 13.4% Amid Severe Weather
Holcim Maroc reported a sharp drop in consolidated revenue for the first quarter of 2026, down 13.4% year‑on‑year, as unusually heavy rainfall disrupted construction activity. Net debt also fell, but the company remains upbeat about future growth thanks to upcoming infrastructure projects linked to the 2030 World Cup and continued housing‑aid programmes. The weather‑driven slowdown is seen as temporary, and Holcim expects the broader Moroccan cement market to recover as public‑sector projects ramp up later in the year.
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Q1 2026 Highlights
Demand shock: National cement demand slipped 10.9% YoY, primarily because record‑high rainfall stalled construction sites and shifted the calendar of the Eid al‑Fitr holiday.
Revenue impact: Consolidated turnover amounted to MAD 1,774 million, down 13.4% from the same period in 2025, reflecting the adverse weather effects on Holcim’s core markets.
Debt position: Net debt stood at MAD 3,439 million at the end of March, an 11.3% reduction compared with Q1 2025.
Outlook & Growth Drivers
Despite the short‑term slowdown, Holcim Maroc remains optimistic. Expected upside stems from:
- Infrastructure investments linked to the 2030 FIFA World Cup, which should boost the construction pipeline.
- Continuation of the direct‑aid‑to‑housing programme, supporting the building sector.
- Large‑scale projects announced in energy, industry and infrastructure.
Holcim Maroc operates under the umbrella of the LafargeHolcim Group.
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