Operational Performance in 2025
The 2025 harvest campaign was conducted under generally satisfactory operational conditions, despite facing a year characterized by low rainfall. This performance is attributed to the sustained efforts of agricultural partners and the unwavering commitment of Cosumar's teams in the field.
The production of white sugar from the agricultural campaign reached 280,000 tons in 2025, a significant increase from 191,000 tons in the previous campaign, marking a 47% rise in local sugar production.
This growth underscores the ongoing enhancement of national sugar production from sugarcane, driven by continuous improvements in crop monitoring techniques, strengthened agronomic oversight, and optimized water resource management.
Export Performance and Market Position
The expansion of refining capacity in Sidi Bennour has bolstered export activity, reaffirming the flexibility of the industrial tool and the resilience of the Group. This has allowed Cosumar to solidify its position as a leader in the global refined white sugar market, even in a challenging international environment in 2025.
As of December 2025, consolidated revenue reached 10.487 billion MAD, reflecting a 2.4% increase compared to the same period last year. This growth is primarily attributed to rising export sales volumes.
The available export volumes benefited not only from the significant increase in local production but also from the new refining capacities in Sidi Bennour.
Commitment to Local Communities
In light of the recent floods affecting the Gharb and Loukkos regions, Cosumar expresses its solidarity with the impacted populations and reaffirms its commitment to supporting its local ecosystem.
The Group's agricultural advisors are actively engaged with farmers to ensure sustainable technical and agronomic support.
Cosumar confirms that its industrial units and production facilities in the affected areas have not experienced any disruptions and continue to operate under normal conditions.
Financial Overview
As of December 2025, Cosumar's net debt stands at 206 million MAD, reflecting an improvement compared to the previous year. Investments recorded by the end of December 2025 amount to 245 million MAD, primarily focused on the development and maintenance of industrial tools.
Future Outlook
The sowing program for the upcoming 2025-26 campaign, which runs from September to December, has shown strong momentum and significant progress compared to the 2024-25 campaign, despite a dry start to the sowing period.
Recent significant rainfall across the country serves as an encouraging signal not only for the current campaign but also for future years.
The substantial impact on reservoir filling rates enhances visibility for upcoming campaigns and the potential for increased national sugar production.
The refining capacity established at the Sidi Bennour facility, along with the anticipated rise in local production, will enable the Group to seize opportunities in the international market and increase export volumes compared to the previous year.
In line with its national and international diversification strategy, an innovative decarbonization and resource valorization project at the Casablanca refinery will be launched shortly.
