Results 2025: Addoha turns the page on restructuring and posts a significantly increased profit.

In 2025, Addoha completed a strategic phase of financial restructuring, marked by steady improvements in its balance sheet indicators.

Pre-sales reached 11,035 units by the end of December 2025, up 3% compared to 2024 (10,697 units). West Africa accounts for 20% of pre-sales, confirming the growing importance of growth drivers outside Morocco.

The secured turnover stands at 11.2 billion dirhams compared to 9.2 billion at the end of 2024, representing a 22% increase. African subsidiaries contribute 28% to this amount.

Addoha currently has 26,053 units under production, 30% of which are located in West Africa. The turnover to be generated from these projects amounts to 21.054 billion dirhams. Notably, 60% of the overall production volume has already reached a technical progress rate above 50%.

Profitability Acceleration in 2025

In the fourth quarter of 2025, the consolidated turnover amounts to 1.059 billion dirhams compared to 658 million a year earlier. For the whole year, it reaches 2.709 billion dirhams compared to 2.595 billion in 2024.

The Group specifies that changes in the real estate sector's accounting standards, effective January 1, 2025, have impacted sales recognition rules. According to the previous standards, the consolidated turnover would have reached 3.5 billion dirhams, a 36% increase compared to 2024.

The 2025 gross margin stands at 730 million dirhams compared to 660 million in 2024. The gross margin rate increases by 1.5 points to reach 27%.

The consolidated net income exceeds 500 million dirhams, compared to 304 million in 2024, representing a 64% increase.

The net debt remains controlled with a gearing around 30%. Consolidated equity exceeds 10 billion dirhams at the end of December 2025.

A Pipeline Positioned in Prime Locations

In Morocco, 19,601 units are under construction with a potential turnover of 16.823 billion dirhams. In West Africa, 6,452 units are being realized with a potential turnover of 4.232 billion dirhams.

The Group has also authorized new real estate programs, including the Blanca City Park project in Casablanca (Southwest Rocade of Dar Bouazza), dedicated to high-end housing, with an estimated turnover potential of 12 billion dirhams. In Abidjan, the Tours Eléphants program envisions a mixed project including a shopping center, offices, and four very high-end residential towers in R+20.

Perspectives

Following the restructuring phase, the Group highlights a high level of secured turnover, a large pipeline, assets positioned in prime locations, structurally improving profitability, and affirmed financial discipline.

Source: medias24.com

Addoha mise sur Abidjan : un méga-projet immobilier et 3 milliards de DH en jeu