Financial and Economic news of October 1, 2025

Latest financial market news

MANAGEM | NIGS up 47% in H1 2025

Managem reported revenues of MAD 4.422 billion in H1 2025, a slight increase of 0.3% year-on-year. EBIT reached MAD 738 million, up 10%, pushing the EBIT margin to 16.7% from 15.2% a year earlier. Net income attributable to the group (NIGS) rose sharply by 47.1% to MAD 381 million, resulting in a net margin of 8.6%.

JET CONTRACTORS | NIGS up 41% in H1 2025

Jet Contractors generated revenues of MAD 1.460 billion, reflecting a 5.8% increase year-on-year. EBIT improved by 37.5% to reach MAD 271 million, lifting the EBIT margin to 18.6%. Net income attributable to the group rose by 41.3% to MAD 126 million, resulting in a net margin of 8.6%.

EQDOM | NIGS up 2% in H1 2025

Eqdom delivered a solid performance in H1 2025, with net banking income climbing 8.1% to MAD 301 million. EBIT saw a strong boost of nearly 20%, reaching MAD 110 million and lifting the EBIT margin to 36.5%, up from 32.9% last year. Despite a modest 1.9% rise in net income attributable to the group (MAD 63 million), the company maintained a healthy net margin of 20.9%.

DARI COUSPATE | Consolidated net income up 13% in H1 2025

Dari Couspate faced a slight dip in top-line performance, with revenues declining by 5.8% to MAD 377 million. Yet, the company managed to boost its operating profit by 6.1%, reaching MAD 34 million and lifting the EBIT margin to 9%. Consolidated net income rose by 12.9% to MAD 26 million, pushing the net margin to 6.9%

ADDOHA | NIGS up 42% in H1 2025

Addoha saw a sharp drop in revenue during H1 2025, down 23.1% year-on-year to MAD 1.297 billion. EBIT also declined, falling 47.3% to MAD 168 million, with the EBIT margin narrowing to 13%. Meanwhile, NIGS rose by 41.9% to MAD 263 million, with the net margin reaching 20.3%

RDS | A profit of MAD 6 Mn in H1 2025 against a loss of MAD -13 Mn H1 2024

RDS posted revenues of MAD 162 million in H1 2025, down 6.9% year-on-year. EBIT showed a strong improvement, reaching MAD 36 million compared to MAD 7 million a year earlier, resulting in an EBIT margin of 22.1%. The group returned to profitability with NIGS of MAD 6 million, after a loss of MAD 13 million in H1 2024. This turnaround brought the net margin to 4%.

LESIEUR CRISTAL | NIGS down 85% in H1 2025

Lesieur Cristal reported revenues of MAD 2.824 billion in H1 2025, up 4.2% year-on-year. EBITDA declined by 28.2% to MAD 130 million, bringing the EBITDA margin down to 4.6% from 6.7% a year earlier. NIGS came in at MAD 12 million, marking a sharp drop of 84.8%, with the net margin narrowing to just 0.4%.

CMGP GROUP | Consolidated net income up 3% in H1 2025

CMGP Group reported revenues of MAD 1.121 billion in H1 2025, showing a slight increase of 0.4% year-on-year. EBITDA declined by 4.4% to MAD 178 million, resulting in an EBITDA margin of 15.9%. Consolidated net income rose by 2.6% to MAD 97 million, bringing the net margin to 8.6%.

BALIMA | NIGS up 25% in H1 2025

In H1 2025, Balima recorded revenues of MAD 31 million, up 17.7% year-on-year. EBIT rose by 6.9% to MAD 9 million, resulting in an EBIT margin of 28.1%. NIGS reached MAD 7 million, an increase of 24.6%, with the net margin standing at 20.8%.

PROMOPHARM | Net income up 8% in H1 2025

Promopharm closed the first half of 2025 with revenues of MAD 464 million, reflecting a 7% increase compared to the previous year. Despite this growth, operating income declined by 6.3% to MAD 42 million, bringing the EBIT margin down to 9%. On the bottom line, net income rose by 8.4% to MAD 26 million, translating into a net margin of 5.7%.

MAGHREBAIL | Net income up 5% in H1 2025

In the first half of 2025, Maghrebail posted net banking income of MAD 215 million, up 9.4% year-on-year. EBIT rose by 12% to MAD 133 million, pushing the EBIT margin to 61.8%. Net income reached MAD 71 million, a 5.4% increase, with the net margin settling at 33.2%.

STROC INDUSTRIE | A profit of MAD 15 Mn in H1 2025 against a loss of MAD -7 Mn in H1 2024

In H1 2025, Stroc Industrie saw a significant increase in revenue, reaching MAD 142 million compared to MAD 49 million in the same period last year. EBIT turned positive, coming in at MAD 31 million after a loss of MAD 2 million in H1 2024, resulting in an EBIT margin of 22.1%. The bottom line also improved, with net income rising to MAD 15 million from a loss of MAD 7 million, bringing the net margin to 10.8%.

MOROCCO | CMGP GROUP: Acquisition of a 92.5% stake in CPCM

In a press release, CMGP Group announced that it has reached an agreement to acquire 92.5% stake in the capital of Compagnie de Produits Chimiques du Maroc (CPCM) from its long-standing shareholders, ABC Holding and Mr. Khalid Lahlou, with the prospect of raising its stake to 100% in the long term. CPCM's enterprise value is estimated at nearly MAD 1 Bn. CPCM's revenue in 2025 is estimated at MAD 500 Mn, bringing the group's consolidated revenue excluding synergies to nearly MAD 3 Bn. The completion of the operation remains subject to the fulfillment of several precedent conditions, notably the approval of the Competition Council.

Economic news

MOROCCO | BANK LOANS: An increase of 5% at the end of August 2025

At the end of August 2025, bank loans reached MAD 1,161.0 Bn, down 0.5% compared to the previous month and up 5.3% y o-y. In more detail, mortgages loans (MAD 317.9 Bn), equipment loans (MAD 264.8 Bn) and consumer loans (MAD 60.7 Bn) show respective increases of 3.3%, 21.5% and 3.9%. Meanwhile treasury loans decreased by 3.5% to MAD 240.9 Bn. Finally, non profitable loans reached MAD 102.7 Bn, up 5.6%.

MOROCCO | FOREIGN TRADE: FDI’s receipts up 43% at the end of August 2025

At the end of August 2025, imports of goods and services amounted to MAD 567.0 Bn, up 9.3%. Likewise, exports increased by 7.2% to MAD 467.9 Bn. In this context, the trade deficit stood at MAD -99.0 Bn at the end of August 2025 compared to MAD -82.3 Bn at the end of August 2024. The coverage rate declined by 1.6 pts to 82.5%. Finally, travel receipts and FDI recorded respective increases of 14.3% and 43.4% to MAD 87.6 Bn and MAD 39.3 Bn. Meanwhile, workers remittances declined by 0.6% to MAD 81.7 Bn.