Aluminium du Maroc’s revenue retreats, but profit refuses to follow with a 31% Y-o-Y increase in H1 2026

Aluminium du Maroc reported a 31 per cent year-over-year increase in H1 2026 net income to MAD 41.0 million (USD 4.11 million), even as consolidated revenue declined to MAD 603.7 million (USD 60.55 million) from MAD 650.1 million (USD 65.21 million).

The Moroccan aluminium producer’s results point to a stronger profitability performance despite weaker top-line activity. Net income rose from MAD 31.3 million (USD 3.14 million) in H1 2025, while operating income also increased by 23 per cent to MAD 77.2 million (USD 7.74 million), according to AlphaMena.

Profit growth outpaces revenue

The divergence between revenue and profit was the key feature of Aluminium du Maroc’s H1 2026 performance. Revenue declined by around 7 per cent year over year, while net income increased by nearly one-third.

The result suggests that profitability strengthened even as sales contracted. AlphaMena described the performance as a decoupling between activity and profitability, with the 23 per cent increase in operating income providing another indication of improved earnings performance.

Explore the production, demand and consumption forecasts of bauxite and alumina in our report: "Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook"

Aluminium du Maroc’s website describes the company as a Moroccan producer of aluminium-alloy profiles serving building and industrial applications. Its performance is therefore linked to demand from construction and industrial projects, as well as the profitability generated from converting aluminium into finished profiles.

Stock remains unchanged at USD 185.57

Aluminium du Maroc stock was quoted at MAD 1,850.00 (USD 185.57) on the Casablanca Stock Exchange on October 8, 2026, unchanged during the session.

The stable share price contrasts with the stronger H1 earnings picture, leaving the company’s latest results as the main quantified indicator of its operating performance.

For H1 2026, Aluminium du Maroc reported net income of MAD 41.0 million (USD 4.11 million), up from MAD 31.3 million (USD 3.14 million) a year earlier, while revenue fell from MAD 650.1 million (USD 65.21 million) to MAD 603.7 million (USD 60.55 million).

Find the right unwrought aluminium for your business. Browse a comprehensive list of primary aluminium products on AL Biz.