Fourth Quarter Performance
In the fourth quarter of 2025, Delta Holding achieved consolidated revenue of 1.012 billion MAD, marking a 3.6% increase compared to the same period in 2024.
Annual Revenue Overview
For the entire year of 2025, consolidated revenue totaled 3.054 billion MAD, down from 3.138 billion MAD in 2024, representing a slight decline of 2.7%. This decrease was largely influenced by lower revenues from its subsidiaries, SSM (Société de Sel de Mohammedia) and DHS (Delta Holding Sénégal).
Impact of Subsidiary Performance
SSM experienced a significant revenue drop of 31%, primarily due to a more than 74% decline in exports to Europe. This reduction was attributed to the mild winter of 2024/2025, which diminished the demand for de-icing salt.
Conversely, SSM's revenue decline was somewhat offset by a nearly 67% increase in exports to North America.
DHS also faced challenges, reporting a 37% decrease in revenue linked to reduced sales of bitumen. This was a result of the new Senegalese government's temporary suspension of numerous road projects, aimed at renegotiating contracts established under the previous administration.
Local Market Resilience
Despite the international revenue challenges faced by SSM and DHS, the local market performance of Delta Holding's subsidiaries helped to mitigate the overall decline.
Investment and Debt Management
Investment expenditures for the year amounted to 125 million MAD, with 22 million MAD spent in the fourth quarter alone.
Moreover, Delta Holding reported a significant improvement in net financial debt compared to the same period in 2024, with a 90% reduction in consolidated accounts and a 153% decrease in social accounts.
