Financial and Economic news of Sept 24, 2025

Latest financial market news

CIMENTS DU MAROC: NIGS up 39% in H1 2025

Ciments du Maroc continued its growth trajectory in the first half of 2025, posting a 10.2% rise in revenue to MAD 2,203 million. EBIT surged 23.2% to MAD 815 million, boosting the EBIT margin by 3.9 percentage points to 37.0%. NIGS rose sharply by 38.8% to MAD 601 million, with the net margin climbing 5.6 points to 27.3%.

COSUMAR: NIGS down 6% in H1 2025

Cosumar reported a 7.6% increase in revenue, reaching MAD 5,362 million. However, EBIT slipped 4.2% to MAD 656 million, bringing the EBIT margin down by 1.5 points to 12.2%. NIGS fell 6.1% to MAD 387 million, and the net margin contracted from 8.3% to 7.2%.

HPS: A loss of MAD -47 Mn in H1 2025

HPS posted a 16.4% increase in global revenue, totaling MAD 672 million. Yet EBIT plunged 51.7% to MAD 36 million, with the EBIT margin dropping 7.6 points to 5.4%. The company also recorded a net loss of MAD –47 million, marking a deterioration of MAD 87 million compared to the MAD 40 million profit reported in the same period last year.

SMI: Net income down 7% in H1 2025

SMI delivered revenue of MAD 628 million, up 10.0% year-on-year. EBIT increased 19.9% to MAD 187 million, lifting the EBIT margin by 2.5 points to 29.8%. Despite strong operational performance, net income fell 6.9% to MAD 108 million, reducing the net margin by 3.1 points to 17.2%.

SBM: NIGS up 17% in H1 2025

SBM achieved revenue of MAD 1,181 million, reflecting a 5.9% increase from H1 2024. EBIT grew 15.6% to MAD 137 million, with the EBIT margin rising by 1 point to 11.6%. NIGS improved 16.7% to MAD 87 million, and the net margin edged up 0.7 point to 7.4%.

Economic news

MOROCCO | MONETARY POLICY: BAM kept its key rate unchanged at 2.25%

Following its monetary policy meeting held on September 23rd 2025, Bank Al-Maghrib decided to keep its key rate unchanged at 2.25%. In terms of outlook, the Central Bank forecasts a growth rate for the Moroccan economy of 4.6% in 2025 and 4.4% in 2026.

BURKINA FASO | FOREIGN TRADE: A trade surplus of FCFA 900 Bn in H1 2025

According to the National Institute of Statistics and Demography (INSD), Burkina Faso's exports showed an increase of 76.7% y-o-y in H1 2025 to FCFA 2,924.7 Bn. Likewise, imports increased by 10.7% to FCFA 2,022.6 Bn. In this context, the trade balance displayed a surplus of FCFA 902.1 Bn in H1 2025 compared to a deficit of FCFA -172.2 Bn a year earlier.