Moroccan mining company Managem has reported a significant increase in its net profit part du groupe (RNPG) for the first half of 2026. The RNPG reached nearly 3.8 billion dirhams, compared to 380 million dirhams during the same period last year. This substantial growth was primarily driven by the strong performance of its Boto mine in Senegal and Tizert mine in Morocco.
The company's consolidated revenue for the six months ending June 2026 stood at 11.764 billion dirhams, representing a remarkable 166% increase compared to the same period in 2025. This surge was mainly attributed to the contribution of its new mines, Tizert and Boto, as well as the rise in precious metal prices, including gold, silver, and copper.
However, the company's operational performance was partially affected by a decline in silver production at its Imiter mine and gold production at its Tri-K mine, due to operational difficulties during the semester. Despite this, Managem's operational margin improved by 20 points to 53%, compared to 33% in H1 2025, driven by the growth in revenue.
The company's operating result stood at 4.833 billion dirhams, representing a significant increase of 4.110 billion dirhams compared to H1 2025. This growth reflects the substantial improvement in its operating margin. The company's CEO, Imad Toumi, chaired the board of directors meeting that approved the company's accounts for the six months ending June 2026.
Managem's gross operating surplus (EBE) stood at 6.197 billion dirhams, representing a more than 300% increase compared to H1 2025. This growth was primarily driven by the company's revenue increase, which allowed it to improve its operational performance. The company's board of directors met under Toumi's chairmanship to review the company's performance.
The strong performance of Managem's mines, including Tizert and Boto, has enabled the company to achieve significant growth in the first half of 2026. The company's second half of 2026 is expected to focus on consolidating its new growth dimension, following the successful commissioning of its new projects.
The company's financial performance is expected to be closely watched by investors and industry analysts, given its significant growth in revenue and profitability. Managem's ability to maintain its growth momentum in the second half of 2026 will be crucial in determining its overall performance for the year.
Key points
- Managem's RNPG reached nearly 3.8 billion dirhams in H1 2026, driven by strong contributions from its mines in Senegal and Morocco.
- The company's consolidated revenue stood at 11.764 billion dirhams, representing a 166% increase compared to H1 2025.
- Managem's operating margin improved by 20 points to 53%, driven by the growth in revenue.
