Alliances: Consolidated Revenue Increases by 10% in H1 2025 (+26% on a pro forma basis)

The Group recorded a consolidated revenue of 1.33 billion MAD as of June 30, 2025, compared to 1.2 billion MAD on June 30, 2024, reflecting a growth of 10%. The consolidated revenue for Q2 2025 reached 618 million MAD, an 11% increase compared to the same quarter last year. Under the accounting rules applicable in 2024, the cumulative consolidated revenue as of June 30, 2025, would have been 1.5 billion MAD, representing a 26% increase from H1 2024. NET DEBT DECLINE The Group's net debt has decreased by 32%, amounting to 939 million MAD as of June 30, 2025, down from 1.376 billion MAD on June 30, 2024. PRE-SALES Pre-sales for Q2 2025 totaled 1,409 units, compared to 1,074 units in Q2 2024, marking a 31% increase. In the first half of 2025, the Group experienced an overall growth of 36% compared to the same period in 2024. ORDER BOOK As of June 30, 2025, the Group has an order book of 7,785 units, securing a revenue potential of approximately 4.5 billion MAD. PRODUCTION The total number of units in production reached 6,352 as of June 30, 2025, compared to 6,205 units on June 30, 2024. CONSOLIDATION SCOPE There were no changes to the consolidation scope during Q2 2025. KEY EVENTS The Group has acquired a majority stake in a company owning land in Marrakech, aiming to launch a new high-end project. During the first half of 2025, the Group continued to receive several phases in Marrakech, Beni Mellal, and Safi.