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Addoha Reports 9% Revenue Surge in H1 2026, Boosted by Strong Pre‑sales
Addoha’s consolidated revenue climbed to MAD 1.41 bn in the first half of 2026, marking a 9 % year‑over‑year increase despite the recent change in accounting standards for the real‑estate sector. Pre‑sales rose 11 % to 5,557 units, with West African subsidiaries contributing 18 % of the volume, and secured revenue now stands at roughly MAD 12.1 bn, providing strong visibility for future earnings. The group continued to accelerate production, with 23,791 units under construction – 35 % of which are located in West Africa – representing a potential MAD 19.8 bn of revenue. Q2 2026 alone delivered MAD 650 m of revenue, up 13 % versus the same quarter last year, while the gearing ratio stays comfortably below the 30 % threshold.
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Key Performance Highlights
- Revenue: Consolidated revenue reached MAD 1.41 bn in H1 2026, up 9 % YoY.
- Pre‑sales: Grew 11 % to 5,557 units, with West African subsidiaries contributing 18 % of total.
- Secured Revenue: Approximately MAD 12.1 bn (MAD 8.9 bn in Morocco, MAD 3.2 bn in West Africa).
- Production Pipeline: 23,791 units under construction, 35 % located in West Africa, representing a potential MAD 19.8 bn of future revenue.
- Q2 2026 Revenue: MAD 650 m, a 13 % increase versus Q2 2025.
- Debt Level: Gearing ratio remains below the 30 % threshold despite accelerated production.
The figures are reported under the new accounting framework introduced on 1 January 2025 for the real‑estate sector. Under the previous method, H1 2026 revenue would have been reported at MAD 1.984 bn, highlighting the impact of the accounting change.
Overall, Addoha continues to strengthen its market position, with a balanced mix of domestic and West African activities, solidifying its growth outlook.