# Moroccan corporate and construction sector performance

> Live situation record from CLSTR: https://clstr.news/situations/moroccan-corporate-financial-performance
> Updated: 2026-09-28T17:50:48.000Z. Sources: 12. Developments: 4.

In the first half of 2026, major Moroccan companies reported varied financial outcomes. While firms like Sonasid, SGTM, and BCP saw profit increases, Ciments du Maroc and Holcim Maroc reported declines due to acquisition costs, fuel prices, and heavy rainfall that disrupted construction.

By the end of the third quarter, data indicated that Morocco’s cement sales declined by 1.1% during the first eight months of 2026, a notable shift from the 10.4% increase recorded during the same period the previous year. Despite this overall dip, specific segments showed resilience: infrastructure grew by 14.7% and ready-mix concrete rose by 6.4%.

The real estate sector also showed signs of recovery. According to Bank Al-Maghrib, real estate asset transaction volumes rose by 6.3% in the second quarter of 2026, rebounding from a 9.3% decrease in the previous quarter. This rebound included a 3.9% increase in residential real estate and a 31.9% jump in professional-use real estate. Additionally, the real estate asset price index saw a slight increase of 0.7% in the second quarter. 

Mortgage financing also expanded, with outstanding mortgage loans growing by 3.9% through the first seven months of 2026 to approximately 330.7 billion dirhams. This growth was supported by a 2.7% increase in housing loans and a 5.9% rise in loans for real estate development.

## Timeline

### 2026-09-28: Morocco cement sales decline 1.1% in first eight months of 2026

Morocco's cement sales fell 1.1% in the first eight months of 2026, though infrastructure and ready-mix concrete sectors grew. Real estate transactions and mortgage loans also showed recovery.

3 sources. https://clstr.news/cluster/morocco-cement-sales-decline-11-in-first-eight-months-of-2026

### 2026-09-28: Holcim Maroc reports 8% drop in H1 2026 profits

Holcim Maroc's consolidated net profit fell 8.1% to 843 MDH in H1 2026, impacted by fuel costs and rainfall, despite positive outlooks for 2030 World Cup infrastructure projects.

2 sources. https://clstr.news/cluster/holcim-maroc-reports-8-drop-in-h1-2026-profits

### 2026-09-23: Ciments du Maroc reports lower first-half 2026 profits

Ciments du Maroc reported a decrease in first-half 2026 net profit to 559 MMAD, impacted by acquisition financing and a contraction in the Moroccan cement market.

2 sources. https://clstr.news/cluster/ciments-du-maroc-reports-lower-first-half-2026-profits

### 2026-09-20: Moroccan companies report varied H1 2026 financial results

Moroccan companies reported varied H1 2026 results, with Sonasid, SGTM, BCP, and Afric Industries showing increased profitability through operational efficiency and cost management.

6 sources. https://clstr.news/cluster/sgtm-reports-increased-profitability-despite-lower-revenue-in-h1-2026

---
Cite as: Moroccan corporate and construction sector performance. CLSTR, https://clstr.news/situations/moroccan-corporate-financial-performance