Casablanca Stock Exchange, Building materials

Ciments du Maroc

Moroccan cement maker, part of Germany’s Heidelberg Materials group.

At a glance

Ciments du Maroc produces cement, concrete and aggregates at several plants and grinding centres, including Aït Baha, Safi, Marrakech, Nador, Laayoune and, since 2025, Témara. Its annual capacity is close to 8 million tonnes of cement. It belongs to Germany’s Heidelberg Materials group.

History

The company has been listed on the Casablanca Stock Exchange since 1969. It took its current form in 1992 through the merger of Cimasfi and Ciments d’Agadir. It came under the control of Italy’s Italcementi, then of Germany’s Heidelberg, which bought Italcementi in 2016. In 2025 it acquired Asment de Témara.

Latest published results

In the first half of 2026, consolidated revenue rose 21.4% to MAD 2.66 billion thanks to the integration of Asment de Témara. Like-for-like, it fell 6% because heavy rain slowed construction sites. Consolidated net income fell 8.2% to MAD 559 million, weighed down by the cost of financing the acquisition.

What to watch

The recovery in cement demand in the second half and the company’s target of higher full-year operating income.

Key dates

  1. 1969

    Listing on the Casablanca Stock Exchange.

  2. 1992

    Merger of Cimasfi and Ciments d'Agadir.

  3. 1999

    Acquisition of Asmar.

  4. 2011

    The Aït Baha plant and a wind farm in Laayoune enter service.

  5. 2016

    Joins the Heidelberg group, which buys Italcementi.

  6. 2022

    The Nador grinding centre enters service.

  7. 2025

    Acquisition of Asment de Témara; capacity rises to about 8 million tonnes.

Sources: Le Matin, Ciments du Maroc : la pluviométrie pèse sur les gains au S1 2026, September 25, 2026; Heidelberg Materials, Maroc; Médias24, Ciments du Maroc finalise l'acquisition d'Asment de Temara, June 30, 2025.

Profile updated on October 29, 2026.

General information only. Nothing on this site constitutes investment advice or a recommendation to buy or sell.