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Managem Achieves Record Profit with the Launch of New Strategic Projects
The Managem Group announced a net profit of 3 billion dirhams in 2025, reflecting a strong increase of 2.38 billion dirhams compared to the previous year. This growth is primarily attributed to the successful initiation of two strategic projects: the gold project in Boto, Senegal, and the copper project in Tizert, Morocco, both of which achieved their first sales in the last quarter of the year.
During the year, the group recorded revenues of 13.69 billion dirhams, marking a 55% increase and surpassing the 10 billion dirham threshold, driven by new production both locally and internationally, along with supportive prices for raw materials. Operating profit reached 5.98 billion dirhams, achieving an operating margin of 44% compared to 30% in 2024, while operating income stood at 3.99 billion dirhams.
The group continues to develop other strategic projects, including cobalt sulfate projects and the first phase of the Tendrara gas project, which is expected to commence operations in 2026. Additionally, it has finalized an agreement with Norin Mining concerning the sale of 45% of the Gabgaba–Bloc 15 project, reflecting its ongoing strategy to diversify growth sources.
In the context of a positive market environment and an increase in ongoing projects, Managem expects to maintain its growth momentum and achieve similar performance levels in the coming years. To enhance shareholder value, the board of directors has proposed a dividend distribution of 55 dirhams per share for the year 2025.
