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TGCC Posts 12.5% Revenue Growth in Q1 2026 Despite Challenging Weather

TGCC announced a 12.5 % increase in operating profit for the first quarter of 2026, reaching MAD 2.08 billion. The result reflects the group’s resilience amid heavy rains that slowed construction progress. The company’s order book stood at MAD 26.9 billion at the end of March, providing strong visibility for the rest of the year, while CAPEX amounted to MAD 83.7 million and net debt rose to MAD 1.11 billion due to early‑year working‑capital pressures. The robust pipeline of national and international projects, together with the integration of STAM VIAS, underpins TGCC’s confidence to maintain its growth trajectory throughout 2026.

May 22nd, 2026
1 min read
By boursenews.ma

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Quarterly Performance Overview

Despite a season marked by heavy rainfall that slowed construction timelines, TGCC managed to post a 12.5 % increase in operating profit for Q1 2026. The group’s resilient approach kept its growth trajectory intact.

Key Financial Figures

  • Operating profit (EBIT): MAD 2,076.3 million, up 12.5 % YoY.
  • Order book (as of 31 Mar 2026): MAD 26.9 billion, providing strong visibility for upcoming fiscal periods.
  • CAPEX: MAD 83.7 million, reflecting continued investment aligned with the progress of ongoing projects.
  • Net debt (31 Mar 2026): MAD 1,106.7 million, compared with MAD 609.8 million at year‑end 2025. The rise is primarily due to the usual working‑capital needs of new large‑scale projects.

Strategic Drivers

The robust order book is driven by large‑scale, structuring projects at both national and international levels, confirming the confidence of public and private clients. The recent integration of STAM VIAS further strengthens TGCC’s project pipeline.

Outlook

With a healthy backlog and ongoing investments, TGCC heads into the remainder of 2026 with a confidence‑boosting outlook. The group continues to monitor its financial structure closely, aiming to keep leverage ratios comfortably low.

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