Fourth Quarter Performance
SNEP's revenue for the fourth quarter of 2025 amounted to 198.2 million MAD, representing a 1.9% increase compared to the same quarter of the previous year.
This growth reflects a sustained level of activity despite a challenging market environment, characterized by persistent pressure on PVC selling prices, which reached historically low levels during the quarter.
Annual Revenue Growth
For the entire fiscal year of 2025, SNEP reported total revenue of 745.7 million MAD, which is a notable increase of 17.7% from 2024.
This performance underscores SNEP's ability to maintain its market position and support key economic development projects.
Investment and Debt Overview
As of December 31, 2025, SNEP's investments totaled 37.4 million MAD, a decrease of 46% compared to the previous year, indicating a normalization of investment levels following a period of heightened activity in prior years.
Financial debt stood at 820.7 million MAD, reflecting a slight decline of 1% from December 31, 2024, which indicates a generally stable financial situation throughout the year.
Market Outlook
Throughout 2025, SNEP operated in a particularly adverse market environment, marked by increased pressure on vinyl product prices due to intensified imports in the domestic market.
This situation is part of a demanding sector cycle, coupled with ongoing optimization efforts by SNEP in relation to its recent investments.
Despite the challenges, the fundamentals of the domestic market remain robust in the medium to long term, driven by structural needs linked to development programs and domestic demand dynamics, suggesting a gradual recovery ahead.
