Managem Group Achieves Over 10 Billion Dirhams in Revenue for 2025, Marking a 55% Increase
Remarkable Revenue Growth in 2025
Managem Group has reported a remarkable consolidated revenue of 13.69 billion dirhams for the fiscal year 2025, reflecting a substantial increase of 55% compared to the previous year. This milestone marks the first time the company has surpassed the 10 billion dirham threshold.
The impressive growth is largely attributed to the successful launch of the Tizert copper project in Morocco and the Boto gold project in Senegal, both of which have significantly contributed to the company's revenue.
In the fourth quarter alone, Managem experienced a staggering 170% increase in revenue compared to the same period in 2024, underscoring the effectiveness of its operational strategies.
Key Factors Driving Revenue Growth
Several factors have contributed to this positive trajectory. The commencement of production at the Boto and Tizert projects generated over 3.5 billion dirhams in revenue.
Additionally, rising metal prices and increased sales volumes of silver and copper have played a crucial role, although these gains were somewhat offset by a decline in the dollar's value and a temporary reduction in production at the Tri-K site.
Investment and Debt Overview
As of December 2025, Managem's total investments reached 5.95 billion dirhams, with nearly 73% allocated to the Group's development projects. However, investments saw a 47% decrease in the last quarter compared to the previous quarter, reflecting the completion and operational commencement of the Tizert and Boto projects.
The Group continues to focus on strategic investments, including cobalt sulfate and Tendrara gas projects, which are expected to commence production in 2026.
Net Debt Position
By the end of December 2025, Managem's consolidated net debt stood at 12.67 billion dirhams, marking a 23% increase from the end of 2024. This rise reflects the scale of investments undertaken by the company.
In the fourth quarter, net debt decreased, aided by the initial cash flows generated from the recently operational projects.
