Stocks Market
SNEP Posts 17.7% Revenue Jump in 2025 Despite PVC Price Pressure
<p>SNEP announced a strong 17.7% increase in total revenue for 2025, reaching MAD 745.7 billion. The fourth‑quarter sales rose modestly to MAD 198.2 billion (+1.9% YoY) despite historically low PVC prices that have squeezed margins.</p><p>The company trimmed capital spending by almost half and saw a slight dip in overall debt, signalling a more balanced fiscal stance as it navigates a challenging market environment.</p>
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Quarter‑4 2025 Highlights
For the fourth quarter of 2025, SNEP generated MAD 198.2 billion in revenue, up 1.9% year‑over‑year. The modest growth reflects a stable activity level even as the PVC market faced historic price lows, keeping pressure on sales margins.
Full‑Year 2025 Performance
The company’s total turnover for 2025 climbed to MAD 745.7 billion, a 17.7% increase over 2024. This result underlines SNEP’s ability to maintain its market share domestically and to support large‑scale economic development projects.
Investment & Debt Outlook
- Investments reached MAD 37.4 billion, down 46% from the previous year, indicating a normalization after a period of aggressive spending.
- Financial debt stood at MAD 820.7 billion, a slight 1% reduction compared with 31 December 2024, suggesting a broadly stable balance‑sheet.
Future Outlook
2025 was marked by a tough market environment, with intensified PVC imports putting further pressure on product pricing. While the company expects a notable dip in performance for the next fiscal year, the fundamentals of the Moroccan market remain solid, driven by structural demand from development programmes and domestic consumption trends.
Overall, SNEP anticipates a gradual recovery as the sector stabilizes.