Risma Shatters Records in 2025 with 47% Surge in Group Net Profit

Risma Achieves Record-Breaking Results in 2025

In 2025, Risma delivered an outstanding performance, marking a significant milestone in its history. The company's consolidated revenue grew by 29%, while its Group Net Profit (RNPG) surged by 47%, reflecting a robust operational momentum and the successful integration of CMG.

The Moroccan tourism sector experienced strong growth, with nearly 20 million arrivals in 2025. Risma capitalized on this trend, achieving record occupancy rates of 64% (compared to 59% in 2024), surpassing the national average of 58%. The company's average room rate increased by 5%, contributing to its overall revenue growth.

Strong Operational Performance and Margin Improvement

Risma's consolidated revenue, excluding CMG, grew by 12%, driven by an 8% increase in rooms sold. The company's strategic focus on higher-margin hotels further enhanced its profitability. EBITDA rose by 37% to 631 million dirhams, with a consolidated EBITDA of 615 million dirhams (excluding non-recurring items), up 33% year-over-year.

Record Net Profit and Strategic Investments

The company's net profit reached 270 million dirhams, a 47% increase from 2024. Excluding non-recurring items, the net profit stood at 254 million dirhams, up 39% year-over-year. This growth was achieved despite a 73 million dirham increase in depreciation due to significant renovation programs in Marrakech and Agadir, as well as the acquisition of CMG.

Risma's capital expenditures in 2025 totaled 936 million dirhams, including 524 million dirhams for the acquisition of CMG (Marrakech's Radisson Blu hotel and Carre Eden shopping mall). Renovation investments reached 237 million dirhams, up from 109 million dirhams in 2024.

Financial Structure and Shareholder Returns

The company's net debt at the end of 2025 stood at 1,968 million dirhams, up from 1,086 million dirhams in 2024, primarily due to perimeter expansion investments. A 500 million dirham capital increase in early 2026 helped reduce net debt to approximately 1,500 million dirhams, improving the financial leverage to 2.5x EBITDA.

The Board of Directors proposed a dividend of 9 dirhams per share for 2025, a 28% increase from the previous year, reflecting the company's strong financial health and commitment to shareholder returns.

2026 Outlook and Guidance

Risma anticipates slight growth in both revenue and pre-tax profit (RAI) in 2026. The company will begin paying full corporate tax in 2026 after utilizing its tax loss carryforwards. Despite the current geopolitical situation in the Middle East, Risma's operations remain unaffected. The company will regularly update its guidance throughout the year.