TGCC: Significant Growth in 2025 Results Driven by Major Infrastructure Projects
TGCC Group confirms its growth momentum in 2025, showcasing significantly improved financial performance and a strengthened positioning in Morocco’s construction sector. Driven by major infrastructure projects and an upscale evolution of its activities, the company reports positive indicators across the board.
Significant Increase in Profitability
The fiscal year 2025 is marked by a substantial enhancement in profitability metrics. EBITDA reached 2.6 billion dirhams, reflecting a remarkable increase of 124% (or 34.5% on a pro forma basis). This performance is largely attributed to the scaling up of technically intensive contracts that promise higher added value.
At the same time, the revenue growth enabled better cost absorption, thereby enhancing the group’s margins.
Proposed Dividend for Shareholders
For the fiscal year 2025, the Board of Directors will propose to the Ordinary General Assembly the distribution of a dividend of 15 dirhams per share, reflecting the group’s financial strength and its commitment to rewarding its shareholders.
Major Achievements in Infrastructure and Sports
In a context characterized by accelerated public investment, TGCC has achieved multiple milestones. In the sporting arena, the group has contributed to several key projects, including the Al Madina Stadium in Rabat, the upgrading of stadiums in Marrakech, Agadir, and Fes, as well as the construction of a multi-sport hall in Rabat.
On the infrastructure front, TGCC has participated in major projects such as the Sidi Maarouf highway interchange in Casablanca, the RN7 underpass in Marrakech, and hydraulic structures carried out by STAM VIAS as part of water resource security programs.
Record Order Book
The consolidated order book reached 25.6 billion dirhams by the end of December 2025, representing more than two years of revenue. Activities related to infrastructure and civil engineering now account for nearly half of this total.
Among the newly secured projects are the extension and modernization of Mohammed V Airport in Casablanca, as well as the construction of the Grand Stadium in Benslimane.
Significant Rise in Investments
The year 2025 was also marked by a substantial investment effort, amounting to 672 million dirhams compared to 175 million in 2024. These investments have strengthened the equipment fleet, which now includes 2,500 machines, and supported the launch of TG Steel, a subsidiary dedicated to manufacturing metal structures.
Strengthened Financial Structure
The group’s net debt stands at 554 million dirhams at the end of 2025, a decrease of 17.7% compared to 2024. This improvement indicates sound financial management and an enhanced capacity to support growth.
Solid Prospects for 2026
TGCC enters 2026 with strong fundamentals: a robust order book, an organization adapted to a broader scope, and a reinforced financial structure. The group aims to consolidate synergies with STAM VIAS and strengthen its positioning in promising segments, particularly in infrastructure, water resources, energy, and logistics.
