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LabelVie Accelerates 2025 Growth While Keeping 2028 Revenue Goal Intact
LabelVie presented its 2025 annual results in Casablanca, highlighting a 12.9% jump in consolidated turnover to MAD 18.5 bn, driven by a record pace of store openings and stronger foot‑traffic. The group confirmed that its 2028 revenue target of MAD 28 bn remains unchanged and announced an 8.5% dividend increase to MAD 120 per share, underscoring a balanced strategy of expansion, digital transformation, and disciplined financing.
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Key Highlights of 2025
Revenue surge: Consolidated turnover rose 12.9% YoY to MAD 18.5 bn.
Retail sales: The grocery segment generated MAD 15.9 bn, up 13.7% (3.5% at constant scope), reflecting higher foot‑traffic across all formats.
Net profit: Net income increased 6.1% to MAD 593 m, a modest rise due to the "ramp‑up" effect of newly opened stores, which require 2‑3 years to reach full profitability.
Store Expansion – A Historic Acceleration
LabelVie opened 141 new points of sale in 2025, compared with 91 in 2024, taking the total network to 411 locations. The growth spanned all brands, with a strong contribution from the Supeco format and continued openings under Carrefour, Atacadão, Carrefour Market and Carrefour Express.
The group now operates in 44 Moroccan cities, covering new regions and targeting areas with high demographic and commercial potential.
Investment & Financing
- Capital expenditures reached MAD 1.2 bn, mainly directed to store roll‑outs, logistics and digital infrastructure.
- Nearly 100% of the spend was funded by internal cash generation, limiting new debt.
- Net debt stood at MAD 4.6 bn, with a debt‑to‑equity ratio of 54.8%.
- A MAD 1.5 bn bond issued in July 2025 secured financing for the development plan while optimizing debt maturity.
Digital Transformation as a Growth Lever
The management emphasizes that digitalisation is central to absorbing the rapid expansion, improving same‑store performance and safeguarding high margin levels. EBITDA grew 10.3% to MAD 1.56 bn, representing 9.5% of sales – above the long‑term target set in the Vision 2028 plan.
Outlook 2026‑2028
LabelVie will keep executing its 2024‑2028 strategic plan, focusing on the five retail formats and ensuring profitability of the newest stores. The 2028 revenue ambition of MAD 28 bn remains unchanged, with an expected EBITDA margin of around 9.3%.
For 2025, the board proposes a dividend of MAD 120 per share, an 8.5% increase, signalling a commitment to create shareholder value while reinvesting in growth.