Significant Sales Growth
LabelVie Group's retail sales surged by 13.7% in 2025, totaling 15.872 billion MAD. This growth was driven by a 3.5% increase in same-store sales, supported by positive trends across all store formats in a more favorable macroeconomic environment.
The company also saw a continuous improvement in customer footfall, complemented by the opening of 141 new stores in 2025, compared to 91 in the previous year.
Diverse Store Expansion
The expansion included various brands under the LabelVie umbrella, with notable additions such as 128 Supeco stores, including 42 located in the Rabat-Salé-Kénitra region, three new Carrefour locations in Casablanca, four Atacadao stores in three new cities, and several Carrefour Market and Carrefour Express outlets.
Profitability Maintained
The Group's EBITDA reached 1.557 billion MAD, reflecting a 10.3% year-on-year increase, which represents 9.5% of total sales. This performance is attributed to effective margin management and cost control.
The financial result remained stable at 43 million MAD compared to 2024, indicating the Group's strong financial balance and optimized financing costs.
Net Income and Dividend Proposal
Net income rose by 6.2% year-on-year, reaching 594 million MAD. For the 2025 fiscal year, the Board of Directors will propose a dividend of 120 MAD per share, marking an 8.5% increase from 2024, resulting in a payout ratio of 58.5%.
Strategic Vision and Investment
Rachid Hadni, Chairman of the Board, emphasized that 2025 marked a significant milestone in achieving the Group's strategic vision for 2028, with 141 new store openings and an investment of 1.206 billion MAD.
Naoual Ben Amar, General Director, noted that the Group's revenue increased by 2.1 billion MAD, rising from 16.4 billion MAD to 18.5 billion MAD, driven by comprehensive operational, commercial, and digital transformation initiatives.
Investment and Debt Management
Total investments reached 1.206 billion MAD in 2025, reflecting an increase from the previous year and indicating an accelerated pace of store openings. As of December 2025, net debt stood at 4.606 billion MAD, up by 633 million MAD year-on-year.
The net debt ratio increased from 53.1% in 2024 to 54.8%, influenced by the repayment of securitization and the postponement of its renewal to 2026.
Successful Bond Issuance
In July 2025, the Group successfully issued bonds worth 1.5 billion MAD, securing financing for its development plan while extending the average maturity of its debt and optimizing financing costs.
Outlook for 2026
Looking ahead to 2026, LabelVie will continue to implement its strategic plan for 2024-2028, with a focus on enhanced expansion across all five store formats. The Group remains committed to achieving its 2028 revenue target of 28 billion MAD while maintaining profitability ratios, including an EBITDA margin of approximately 9.3%.
