SNEP: Revenue Soars by 40.4% in H1 2025

In the second quarter of 2025, SNEP recorded a revenue of 173.1 million MAD, representing a 20.5% increase compared to the same period last year. By the end of the first half of 2025, cumulative revenue reached 359.8 million MAD, up 40.4% from the first half of 2024. This growth is primarily attributed to the increase in sales volumes of vinyl products, despite significant price pressures on PVC. Investments made during the first half amounted to 14.8 million MAD, a decrease from 41.3 million MAD at the end of June 2024. This shift indicates a transition towards stabilization and enhancement of installed industrial capacities. As of June 30, 2025, financial debt stood at 829.4 million MAD, slightly down from 831.5 million MAD at the end of December 2024, reflecting a generally stable situation over the semester. Looking ahead, the first half of the year unfolded in a particularly unfavorable market, characterized by a global oversupply of PVC. In the domestic market, massive PVC imports intensified price pressures and limited revenue growth, directly impacting margins. These factors, combined with temporary costs associated with finalizing the stabilization of new production units, affected profitability and financial performance during the semester. However, this transitional situation is part of an investment strategy aimed at sustainably enhancing SNEP's competitiveness through industrial scaling.