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Marsa Maroc Q3 2025: Revenue Surge + Strategic Terminal Deal Boost Growth
Marsa Maroc ended September 2025 with a 16% jump in consolidated revenue, reaching 4.305 bn dirhams, and an 8% increase in handled cargo totalling 50.7 million tonnes. The surge is driven by strong container traffic—domestic traffic up 9% and transshipment up 6%—and significant gains in bulk liquids and solids. A new 100%‑owned subsidiary, Marsa Maroc International Logistics (MMIL), was added to the group’s portfolio, while a partnership with CMA CGM will operate the West Container Terminal at Nador West Med. The group invested 1.783 bn dirhams in equipment and terminal upgrades, and its net debt stands at ‑470 million dirhams.
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On September 30, 2025, Marsa Maroc reported a solid performance across all transport segments, highlighted by a 16% rise in consolidated revenue to 4.305 bn dirhams and an 8% increase in overall cargo volume—50.7 million tonnes.
Key Performance Highlights
- Container Traffic: Domestic throughput up 9% to 984,145 TEU, while transshipment grew 6% to 1,286,124 TEU.
- Bulk Cargo: Liquids up 6% and solids+others up 4%, driven by higher clinker and coal shipments.
- Vehicle Imports: New‑vehicle volume surged 55% after a 30% jump in imports and a spot spot transfer of 17,476 cars.
- New Logistics Unit: Marsa Maroc International Logistics (MMIL), a fully owned subsidiary, was fully integrated into the group’s consolidated scope for the first time in Q3‑2025.
Strategic Partnerships
In October 2025, Marsa Maroc finalised a partnership with CMA CGM to operate the West Container Terminal at Nador West Med. The deal is expected to unlock CMA CGM’s global network and bring significant new traffic volumes while leveraging Marsa Maroc’s operational expertise.
Capital Investment & Debt Position
- Capital spend: 1.783 bn dirhams earmarked for equipment upgrades—18 container gantries and 50 RTG cranes—and for superstructure works at the new Nador West Med terminals.
- Modernisation projects at Casablanca and Jorf Lasfar ports also receive part of the investment.
- Net debt stood at ‑470 million dirhams as of September 30, 2025, comprising 1.629 bn dirhams of financing debt and 2.099 bn dirhams of liquidity.
The company’s quarterly revenue rose from 1.235 bn dirhams in Q3 2024 to 1.463 bn dirhams in Q3 2025, marking a 16% consolidated growth year‑over‑year.