A strong first half for Autohall with a 46% increase in pre-tax profits

As of June 2025, the Moroccan market for new vehicles (passenger cars and light commercial vehicles) recorded significant growth compared to the same period in 2024. Sales volume reached 112,026 units, a 36% increase from June 2024's 82,286 units. This upward trend is evident in both categories, with 12,717 light commercial vehicles sold (+54.4%) and 99,309 passenger vehicles sold (+34.1%). The market's dynamism is attributed to the rise of Asian brands and improved supply conditions. In this context, Auto Hall's sales volume increased by 14% in the first half of 2025 compared to the previous year, totaling 10,730 units sold. This growth is driven by the expansion of the Group's territorial network through the opening of new showrooms in recent years (Mohammedia and Kenitra in 2023, Tifelt and Tangier in 2024), the broadening of the product range with the launch of new models, and an improved product mix. Three major product launches are planned for the second half of the year, aimed at capitalizing on the positive market dynamics and reducing the gap between Auto Hall's sales growth and overall market growth. FINANCIAL PERFORMANCE The consolidated revenue for the first half of 2025 increased by 10%, totaling 2,677 MDH, reflecting the Group's commercial performance and strengthened growth drivers. This growth is accompanied by a significant rise in EBITDA, which increased by 36% to reach 241 MDH, driven by improved operational efficiency. The pre-tax profit stood at 89 MDH, compared to 61 MDH in 2024, noting that the latter included a real estate capital gain of 53 MDH. Regarding Auto Hall SA's results, the decline in profits is attributed to the absence of real estate capital gains in 2025, which amounted to 140 MDH in 2024. The social profit is thus reported at 57 MDH, a decrease of 61%. OUTLOOK Auto Hall will continue to implement its development plan by expanding its offering of new thermal, hybrid, and electric models in the second half of 2025. This strategy aims to further accelerate the growth recorded in the first half and improve market share. The Group will also strengthen the performance of its growth drivers—financing, long-term leasing, used vehicles, and insurance—while maintaining a constant focus on customer satisfaction. Cost control and operational efficiency will remain top priorities to support the ramp-up of new ranges and sustain market dynamics.