Cosumar: Consolidated Revenue Increases by 3.7% by the End of September

The 2025 harvest campaign was conducted under generally satisfactory operational conditions, despite a slow start to the year marked by low rainfall. This performance was made possible by the remarkable mobilization of all agricultural partners and the constant support from COSUMAR teams on the ground. Total white sugar production from the agricultural campaign reached 280 Kt in 2025, compared to 191 Kt in the previous campaign, confirming a notable increase in local sugar production. This rise reflects the gradual growth of national sugar production from sugarcane, following the development of crop monitoring techniques and improvements in water resources. Export activities benefited from the expansion of refining capacity at the Sidi Bennour refinery, which helped consolidate the Group's resilience and its position as a leader in the global refined white sugar market, despite an unfavorable international sugar market during the first half of 2025. Consolidated revenue by the end of September 2025 reached 8,037 MDh, marking a 3.7% increase compared to the same period last year. This growth is attributed to the rise in export sales volumes. The export market capitalized on the expanded refining capacity at Sidi Bennour to boost exported volumes. The net debt of the COSUMAR Group stood at 1,701 MDh by the end of September 2025, down from 1,823 MDh at the end of September 2024. Investments recorded by the end of September 2025 amounted to 166 MDh, primarily focused on ongoing upgrades and maintenance of industrial facilities. Looking ahead, the planting operations for cane and beet sowing have begun under favorable conditions, marking an improvement compared to the previous campaign. These efforts are part of an ambitious program aimed at increasing the areas dedicated to sugar beet cultivation. The refining capacity achieved at the Sidi Bennour refinery and the expected increase in local production will enable the Group to seize opportunities in the international market and increase export volumes compared to the previous year. As part of its national and international diversification strategy, an innovative decarbonization and resource valorization project for the Casablanca refinery will be launched shortly.