Robust Revenue Growth
LabelVie reported a consolidated revenue of 18.5 billion dirhams for the year 2025, reflecting a significant growth of 12.9% compared to 2024. Sales in the retail sector reached 15.9 billion dirhams, an increase of 13.7%, with a 3.5% rise on a like-for-like basis, indicating a consistent improvement in customer traffic across all store formats.
Profitability and New Openings
The company's profitability grew at a more moderate pace, with net income rising by 6.1% to 593 million dirhams. Management attributes this slower growth primarily to the impact of new store openings, which typically require two to three years to reach maturity, during which time depreciation affects profitability.
Expansion and Store Network Growth
2025 marked a historic acceleration in LabelVie’s development, with 141 new stores opened compared to 91 in 2024, bringing the total network to 411 outlets. This expansion encompasses all of the group's brands, with notable contributions from the Supeco format, as well as openings in Carrefour, Atacadao, Carrefour Market, and Carrefour Express.
Strategic Territorial Expansion
LabelVie is committed to a balanced national presence, now operating in 44 cities, including new regions. This strategy aims to progressively cover the Moroccan territory while targeting areas with high potential for demographic and commercial growth.
Significant Investments and Financial Management
In 2025, the company invested 1.2 billion dirhams, primarily in new store openings and logistics and digital infrastructure. Management emphasized that these investments are largely funded through self-financing, minimizing reliance on debt. Net debt stands at 4.6 billion dirhams, with a controlled debt ratio of 54.8%, following a bond issuance of 1.5 billion dirhams in July 2025 aimed at securing funding for its development plan while optimizing debt maturity.
Digital Transformation and Operational Performance
Beyond physical expansion, LabelVie highlights the crucial role of digital transformation in its operational model. According to management, this transformation is a key lever for absorbing growth, enhancing performance on a like-for-like basis, and maintaining high margin levels. EBITDA increased by 10.3% to 1.56 billion dirhams, representing 9.5% of sales, exceeding the long-term target set in the Vision 2028.
Outlook for 2026 and 2028 Ambitions
For 2026, LabelVie plans to continue executing its strategic plan for 2024-2028, with intensified expansion across all five formats and a particular focus on the profitability of recent openings. The group reaffirms its ambition to achieve 28 billion dirhams in revenue by 2028 while maintaining an EBITDA margin close to 9.3%. For the fiscal year 2025, the Board of Directors will propose a dividend of 120 dirhams per share, an increase of 8.5%, reflecting the group's commitment to balancing growth, investment, and shareholder value creation.
