Label Vie (LBV) Q3 2025 earnings summary

Executive summary

• Retail sales surged 15.3% in Q3 2025 compared to the same quarter last year, maintaining strong growth momentum year-to-date.

• Like-for-like sales grew 5.9% in Q3, reflecting improved customer traffic across all formats.

• 80 new stores opened year-to-date, with 36 in Q3 alone, mainly under the Supeco discount format.

Financial highlights

• Group revenue reached MAD 4,742 million in Q3 2025, up 15.2% year-over-year.

• Retail revenue for Q3 2025 was MAD 4,867 million, a 13.0% increase from Q3 2024.

• Net CAPEX for the first nine months of 2025 totaled MAD 1,204 million, up 2.1x year-over-year.

Outlook and guidance

• Full-year 2025 revenue is expected to exceed MAD 19 billion.

• EBITDA margin is projected to be around 9.3%, in line with the 2028 Vision.

• Total sales area is forecasted to grow by 15–20% in 2025, with accelerated large-format store openings in Q4.