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Addoha Boosts Profitability with a 64% Surge in Consolidated Net Income for 2025
Addoha Group closed 2025 with a dramatic lift in profitability, posting a 64 % jump in consolidated net profit and stronger margins. Revenue reached 2.7 billion MAD under the new accounting framework, while the development pipeline now holds more than 21 billion MAD of short‑ and medium‑term potential. The company says the results stem from a disciplined restructuring phase that tightened equity, curbed debt and improved working‑capital metrics. Moving forward, Addoha will focus on margin optimisation, active land‑asset rotation and maximising value creation across Morocco and West‑Africa.
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Financial Highlights
Net profit jump: Consolidated net income surged 64 % year‑over‑year, climbing from MAD 304 million in 2024 to over MAD 500 million in 2025.
Revenue: Total revenue for the year reached MAD 2.709 billion, up from MAD 2.595 billion in 2024. Under the new real‑estate accounting standards, the adjusted figure would be approximately MAD 3.5 billion, a 36 % increase on the old basis.
Gross margin: The gross margin improved to 27 % (MAD 730 million), a rise of 1.5 percentage points.
Balance‑sheet strength: Equity surpassed MAD 10 billion, while net debt remained disciplined with a gearing ratio around 30 %.
Commercial Activity
Pre‑sales: 11,035 units sold in 2025, a 3 % rise on 2024. West Africa accounts for roughly 20 % of pre‑sales.
Secured revenue: Secured contracts amount to MAD 11.2 billion, a 22 % increase versus MAD 9.2 billion at year‑end 2024. African subsidiaries contribute 28 % of this total.
Production pipeline: More than 26,000 units are under construction, with 30 % located in West Africa. The eventual revenue from all units under production is estimated at nearly MAD 21 billion, and 60 % of the volume is more than 50 % complete technically.
Project Pipeline
- Overall pipeline: 26,053 units representing MAD 21.054 billion of potential revenue.
- Morocco: 19,601 units – MAD 16.823 billion.
- West Africa: 6,452 units – MAD 4.232 billion.
Addoha is now active in 20 Moroccan cities and five African countries.
Newly approved programmes include:
- Blanca City Park in Casablanca – a premium residential project with an estimated value of MAD 12 billion.
- Tours Elephants in Abidjan (Zone 4) – a mixed‑use development featuring a shopping centre, offices and four residential towers (R+20).
Quarter‑4 2025 Performance
Q4 revenue reached MAD 1.059 billion, up 61 % from Q4 2024 (MAD 658 million). The cumulative 2025 revenue stands at MAD 2.709 billion.
Future Outlook
Having completed its restructuring programme, Addoha enters the next fiscal years with:
- A high level of secured revenue.
- A sizable project pipeline.
- Assets situated in prime locations.
- Continuously improving structural profitability.
- Strong financial discipline.
The group remains focused on margin optimisation, active land‑asset rotation and delivering value for shareholders across its Moroccan and West‑African footprint.