AFMA: 11% Growth in Consolidated Revenue as of September 30, 2025

The AFMA group recorded a consolidated revenue of 236 million MAD by the end of September 2025, compared to 212 million MAD at the end of September 2024, indicating a sustained growth of 11%. AFMA SA's social revenue showed the same trend, increasing by 11% to reach 200 million MAD, up from 180 million MAD at the end of September 2024. This performance is attributed to the acquisition of new accounts and the growth of the existing portfolio. The total amount of investments, including financial stakes, made by the group by the end of September 2025 was 23.2 million MAD, compared to 14 million MAD during the same period in 2024. As of the end of September 2025, the consolidated net financial debt stood at 69.2 million MAD. Notable events include the acquisition of the remaining 49% of the shares in the subsidiary SAFE ASSUR. The control percentage of SAFE ASSUR increased from 51% to 100%. Companies where AFMA exercises direct or indirect exclusive control are consolidated through full integration.