Delta Holding has begun the year with slow but steady growth, while keeping a strong grip on its cash.
In the first three months of 2026, the Moroccan group made 599 million dirhams in revenue. That is up 3% from the same period last year. It also kept investing at a similar pace, spending 16 million dirhams during the quarter.
Debt levels barely moved. The group’s total debt stood at 166 million dirhams. Its net debt came in at minus 371 million dirhams, which means it is sitting on more cash than debt.
At company level, the numbers were also stronger. Revenue reached 22 million dirhams, up 10% year on year. Gross debt dropped to zero, while net debt stood at minus 209 million dirhams.
There was also a small change in the group’s structure. Delta Holding exited its French subsidiary DHE, where it held a 51% stake. This has no impact on its consolidated accounts, following an earlier move in 2024 to sell its indirect stake in Isosign.
Looking ahead, the company has a clear line of sight on future work. Its order book stood at 2.91 billion dirhams at the end of last year. That covers about nine months of activity across its main businesses, including infrastructure, metallurgy, water and environment.
Shareholders recently signed off on a dividend payout of 175.2 million dirhams at a meeting in Skhirat. That sets the dividend at 2 dirhams per share. The group also added two new board members, Meryem Fahim and Leila Fahim, whose terms will run until 2029.
The update builds on a solid performance last year. Delta Holding made 307 million dirhams in profit, even as annual revenue dipped slightly by 2.8% to 3.05 billion dirhams.
That dip was mainly due to lower activity in its Senegal unit and weaker exports of de-icing salt to Europe because of milder weather. Despite that, operating profit jumped 14.9% to 454 million dirhams, showing tighter cost control.
Delta Holding employs more than 3,300 people and runs a wide mix of businesses, from road construction and heavy industry to chemicals and water services.
