Moroccan construction group Société Générale des Travaux Du Maroc (SGTM) had a strong 2025, with higher sales, more orders, and a stronger financial position after its stock market listing in Casablanca.
SGTM raised 4.8 billion dirhams in its IPO in the last quarter, the second-biggest in Casablanca Stock Exchange history. Investors showed strong interest in the company’s integrated construction approach.
Revenue in the final quarter was 4.9 billion dirhams, up 8.7% from the same period in 2024. For the full year, sales jumped 36.6% to 15.2 billion dirhams, boosted by big projects across the country.
Major work included sports facilities in Rabat, projects at Mohammed VI Polytechnic University, and port expansions in Safi, Nador West Med, and Dakhla Atlantique. Industrial projects, including work for Stellantis and the OCP Group, also helped drive growth.
The order book more than doubled to 35.1 billion dirhams by December, giving the company a clear view of work coming up. Most orders were public projects, with some from semi-public and private clients.
Investments rose to 783 million dirhams to boost equipment and technical capacity. Net debt fell to 156.1 million dirhams, showing stronger finances.
Looking ahead, SGTM will work on the Bou Ahmed dam in Chefchaouen, the second phase of Grand Stade Hassan II in Benslimane, and a new hub terminal at Mohammed V Airport in Casablanca, set to be the country’s biggest airport project.
