Holcim Morocco: Revenue Soars by 12.7% in the Second Quarter
Holcim Morocco has experienced a significant acceleration in its business activities during the second quarter of 2026, driven by the recovery in demand within the Moroccan cement market and the increase in sales volume.
From April to June, the cement producer achieved a consolidated revenue of 2.378 billion dirhams, compared to 2.111 billion dirhams during the same period in 2025. The group thus recorded a quarterly growth of 12.7%.
This performance comes amid a more favorable environment for the construction sector in Morocco, following a challenging start to the year marked by particularly difficult weather conditions.
Cement Demand Increases by 8%
The Moroccan cement market experienced a noticeable improvement in the second quarter.
National demand rose by 8% year-on-year between April and June. The timing of Eid al-Fitr, along with the solid performance of the construction sector, contributed to this development.
In this context, sales of cement and ready-mixed concrete were the main drivers of Holcim Morocco’s revenue growth.
However, the increase recorded in spring only partially offset the negative effects of the heavy rainfall observed at the beginning of the year.
A Nearly Stable Semi-Annual Revenue
In the first half of 2026, Holcim Morocco’s consolidated revenue stood at 4.152 billion dirhams.
In the same period of 2025, the group had reported 4.159 billion dirhams.
The decline is thus limited to 0.2% year-on-year, indicating a near-stable activity despite the challenges faced at the beginning of the fiscal year.
The improvement in demand in the cement market during the second quarter helped absorb much of the impact from the exceptionally high rainfall recorded in the earlier months of the year.
Construction is Expected to Support Demand in the Second Half
Holcim Morocco has rather favorable prospects for the second half of 2026.
The group expects to benefit from the investment momentum dedicated to infrastructure in connection with the preparations for the 2030 World Cup.
Major projects announced in various regions of the Kingdom are also expected to bolster the demand for construction materials in the coming years.
Additionally, the continuation of the direct housing assistance program should further stimulate activity within the construction sector.
All these factors could maintain cement consumption on a positive trajectory in the upcoming months.
Net Debt Increases by 4.4%
From a financial standpoint, Holcim Morocco’s net debt stood at 5.093 billion dirhams at the end of June 2026.
It was recorded at 4.881 billion dirhams a year earlier, reflecting an increase of 4.4%.
This development comes as the group continues its operations and prepares to meet the growing needs of the Moroccan construction market.
Holcim Morocco Bets on Market Recovery
After a first quarter hindered by heavy rainfall, Holcim Morocco has regained a more favorable momentum in the spring.
The 12.7% increase in revenue during the second quarter and the 8% growth in national cement demand reflect a market recovery.
For the second half of the year, investments in infrastructure, major projects, and the housing support policy are all factors likely to bolster sales.
The prospect of the 2030 World Cup, jointly organized by Morocco, Spain, and Portugal, should further enhance the demand for cement and construction materials as infrastructure projects ramp up.
