TotalEnergies Marketing Maroc (TMA) H2 2025 earnings summary

Executive summary

• Sales volume reached 1,794 kt in 2025, up 1.3% year-over-year, driven by favorable market conditions and the opening of 6 new service stations, including one on a highway.

• Major events included the launch of a new loyalty program, creation of Global Skyfuel Solutions (a JV for aviation logistics), and the opening of the first KFC restaurant in Agadir.

• The company maintained double-digit growth in the CARGLASS activity.

Financial highlights

• Standalone revenue was MAD 17,261 million in 2025, down from MAD 18,348 million in 2024.

• Standalone operating income was MAD 1,264.6 million, compared to MAD 1,332.7 million in 2024.

• Standalone net income reached MAD 802.6 million, down from MAD 844.6 million in 2024.

• Consolidated revenue (IFRS) was MAD 15,127 million, down from MAD 16,752 million in 2024.

• Consolidated net income (group share) was MAD 851.1 million, compared to MAD 934.2 million in 2024.

• Total consolidated assets stood at MAD 8,258 million at year-end 2025.

Outlook and guidance

• The company expects a challenging and volatile market environment in 2026, focusing on maintaining customer trust and cost control to preserve profitability.