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Casablanca – Cosumar reported higher revenue in 2025, helped by stronger exports and a rise in local sugar output, even as profits declined in a tougher international market.
The Moroccan sugar group posted consolidated revenue of MAD 10.48 billion by the end of December, up 2.4% from a year earlier. Growth was driven mainly by export sales, supported by increased local production and new refining capacity at its Sidi Bennour facility.
Operating income stood at MAD 1.29 billion, down slightly from 2024. The company pointed to a less favorable global market environment, which weighed on margins. This was partly offset by higher export volumes and a stronger sugar campaign linked to expanded harvested areas.
Net profit attributable to the group fell to MAD 704 million, a drop of MAD 146 million year-on-year. The decline was mainly due to a tax reassessment and other non-recurring items recorded during the year. Adjusted for these elements, net profit improved compared with 2024.
The board proposed a total dividend of MAD 10 per share, including a MAD 9 ordinary dividend and a MAD 1 exceptional payout.
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Cosumar also highlighted progress on the agricultural front. Harvested areas and domestic sugar production increased compared with the previous campaign. Recent rainfall across Morocco has improved dam levels, offering better visibility for future harvests and raising expectations for higher national output.
Looking ahead, the group plans to expand exports further, backed by refining capacity and expected gains in local production. It is also preparing a decarbonization project at its Casablanca refinery as part of a broader diversification strategy.
As Morocco’s long-standing sugar operator, Cosumar plays a central role in supplying the domestic market. Its position, effectively a monopoly, means its performance has direct implications for national food security and price stability.
Higher local production can reduce reliance on imports, especially in volatile global markets. At the same time, the group’s export push reflects a balancing act between meeting domestic demand and capturing opportunities abroad.
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