Skip to content
The African Exponent DATA
Resources

Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (16 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Sonasid

SID · Bourse de Casablanca · Consolidated statements

On this page
Company details
Legal name
Société Nationale de Sidérurgie S.A. (SONASID)
Listing
SID on the Bourse de Casablanca, active · ISIN MA0000010019 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. No emphasis-of-matter or going-concern paragraph is printed in the report on the consolidated statements; key audit matter: 'Provision pour risques' (land acquisition risk provision of MMAD 79) (p96).
Full wording and sources

  • Auditor's emphasis of matter

    No emphasis-of-matter or going-concern paragraph is printed in the report on the consolidated statements; key audit matter: 'Provision pour risques' (land acquisition risk provision of MMAD 79) (p96).

    Source: SONASID — Rapport Financier Annuel 2025 (dated 2026-04-28)

  • Revenue

    MAD 6.39 billion

    6,385.8 MAD millions · p75

    +16.2% vs 2024

  • Operating profit / (loss)

    MAD 439 million

    438.7 MAD millions · p75

    +113.6% vs 2024

  • Profit / (loss) for the year

    MAD 273 million

    272.5 MAD millions · p75

    +92.3% vs 2024

  • Total assets

    MAD 5.43 billion

    5,426.9 MAD millions · p74

    +2.3% vs 2024

  • Total equity

    MAD 1.99 billion

    1,993.2 MAD millions · p74

    +6.1% vs 2024

  • Cash from operations

    MAD 196 million

    195.5 MAD millions · p75

    −26.1% vs 2024

Large amounts are rounded for reading (MAD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MAD millions unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, MAD millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Revenus 6,385.8 5,494.5
Autres produits de l'activité1 124.3 (94.1)
Produits des activités ordinaires2 6,510.1 5,400.4
Achats3 (5,092.9) (4,391.2)
Autres charges externes4 (477.0) (359.3)
Frais de personnel (251.4) (226.1)
Impôts et taxes5 (80.9) (74.9)
Amortissements et provisions d'exploitation6 (199.9) (152.9)
Autres produits et charges d'exploitation7 29.3 26.2
Charges d'exploitation courantes8 (6,072.8) (5,178.1)
Résultat d'exploitation courant9 437.3 222.3
Cessions d'actifs10 38.5 0.2
Résultats sur instruments financiers11 1.4 (7.5)
Autres produits et charges d'exploitation non courants12 (38.6) (9.6)
Autres produits et charges d'exploitation13 1.4 (16.9)
Résultat des activités opérationnelles 438.7 205.4
Produits d'intérêts 2.2 4.7
Charges d'intérêts (26.0) (15.6)
Autres produits et charges financiers14 (4.4) 14.0
Résultat financier15 (28.2) 3.1
Résultat avant impôts des entreprises intégrées 410.5 208.5
Impôts sur les bénéfices16 (167.4) (78.5)
Impôts différés17 29.4 11.7
Résultat net des entreprises intégrées 272.5 141.7
Participations ne donnant pas le contrôle18 0.7 0.5
Autres éléments du résultat global nets d'impôts (4.4) 6.8
Résultat global de l'ensemble consolidé 268.1 148.6
Notes and alternative reported figures (18)
  1. “Autres produits de l'activité” is an issuer-specific line, not mapped to a shared definition: Other income from activities, added to revenue to give 'Produits des activités ordinaires' (negative in 2024).
  2. “Produits des activités ordinaires” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: revenue plus other income from activities.
  3. “Achats” is an issuer-specific line, not mapped to a shared definition: Purchases (printed negative).
  4. “Autres charges externes” is an issuer-specific line, not mapped to a shared definition: Other external charges (printed negative).
  5. “Impôts et taxes” is an issuer-specific line, not mapped to a shared definition: Taxes and duties other than income tax (printed negative).
  6. “Amortissements et provisions d'exploitation” is an issuer-specific line, not mapped to a shared definition: Operating depreciation and provisions, net (printed negative).
  7. “Autres produits et charges d'exploitation” is an issuer-specific line, not mapped to a shared definition: Other current operating income and charges, net (note 10).
  8. “Charges d'exploitation courantes” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the current operating charges (printed negative).
  9. “Résultat d'exploitation courant” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: ordinary activity income less current operating charges.
  10. “Cessions d'actifs” is an issuer-specific line, not mapped to a shared definition: Non-current operating item: result on asset disposals.
  11. “Résultats sur instruments financiers” is an issuer-specific line, not mapped to a shared definition: Printed within the non-current operating items (p75).
  12. “Autres produits et charges d'exploitation non courants” is an issuer-specific line, not mapped to a shared definition: Non-current operating item.
  13. “Autres produits et charges d'exploitation” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the non-current operating items (note 10).
  14. “Autres produits et charges financiers” is an issuer-specific line, not mapped to a shared definition: Other financial income and charges, net.
  15. “Résultat financier” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the financial lines (note 11).
  16. “Impôts sur les bénéfices” is an issuer-specific line, not mapped to a shared definition: Current income tax (printed negative, note 12).
  17. “Impôts différés” is an issuer-specific line, not mapped to a shared definition: Deferred tax (income statement, note 12).
  18. “Participations ne donnant pas le contrôle” is an issuer-specific line, not mapped to a shared definition: Non-controlling interests' share of the net result.

Balance sheet

Balance sheet, MAD millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Immobilisations incorporelles 2.0 2.9
Immobilisations corporelles 1,489.7 1,342.0
Immobilisations en droit d'usage 83.0 88.5
Autres actifs financiers1 41.2 39.9
Impôts différés actifs 180.9 156.1
Actifs non-courants 1,796.8 1,629.5
Autres actifs financiers courants2 3.9 2.5
Stocks et en-cours 1,451.0 1,011.9
Créances clients3 1,391.6 1,752.3
Autres débiteurs courants4 286.8 186.2
Trésorerie et équivalent de trésorerie 496.7 723.4
Actifs courants 3,630.1 3,676.3
TOTAL ACTIF 5,426.9 5,305.8
Capital 390.0 390.0
Primes d'émission et de fusion 1.6 1.6
Réserves5 1,326.9 1,343.7
Résultats net part du groupe6 271.8 141.2
Capitaux propres attribuables aux actionnaires ordinaires 1,990.3 1,876.6
Participations ne donnant pas le contrôle 2.9 2.8
Capitaux propres de l'ensemble consolidé 1,993.2 1,879.3
Provisions non courantes7 59.8 59.8
Avantages du personnel 102.5 92.6
Dettes financières non courantes8 94.2 100.0
Impôts différés passifs 198.3 205.7
Autres créditeurs non courants9 12.6 15.2
Passifs non courants 467.4 473.3
Provisions courantes 26.5 26.5
Dettes financières courantes10 5.1 Not reported in this filing11
Dettes fournisseurs courantes12 2,182.1 2,328.6
Autres créditeurs courants13 752.6 598.0
Passifs courants 2,966.2 2,953.1
TOTAL PASSIF 3,433.7 3,426.4
TOTAL CAPITAUX PROPRES ET PASSIF 5,426.9 5,305.8
Notes and alternative reported figures (13)
  1. “Autres actifs financiers” is an issuer-specific line, not mapped to a shared definition: Note 16.
  2. “Autres actifs financiers courants” is an issuer-specific line, not mapped to a shared definition: Note 16.
  3. “Créances clients”: mapping to a shared definition is uncertain. Printed 'Créances clients' (trade receivables only); other current receivables are printed on a separate line.
  4. “Autres débiteurs courants” is an issuer-specific line, not mapped to a shared definition: Note 18.
  5. “Réserves” is an issuer-specific line, not mapped to a shared definition: Group reserves (consolidated).
  6. “Résultats net part du groupe” is an issuer-specific line, not mapped to a shared definition: Group share of the year's result within equity.
  7. “Provisions non courantes” is an issuer-specific line, not mapped to a shared definition: Note 21.
  8. “Dettes financières non courantes”: mapping to a shared definition is uncertain. Non-current financial debts (note 23); whether lease liabilities are included is not stated on the face.
  9. “Autres créditeurs non courants” is an issuer-specific line, not mapped to a shared definition: Note 24.
  10. “Dettes financières courantes”: mapping to a shared definition is uncertain. Current financial debts (note 23); the 2024 cell is blank (p74).
  11. Not reported in this filing: Not printed for 2024: the line 'Dettes financières courantes' carries a 2025 amount (5,1) only; the 2024 column is left blank (p74, checked on the page image).
  12. “Dettes fournisseurs courantes”: mapping to a shared definition is uncertain. Printed 'Dettes fournisseurs courantes' (trade payables); other current creditors are printed on a separate line.
  13. “Autres créditeurs courants” is an issuer-specific line, not mapped to a shared definition: Note 24.

Cash flow

Cash flow, MAD millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Résultat net de l'ensemble consolidé1 272.5 141.7
Elim. des amortissements et provisions2 140.5 145.8
Elim. des profits / pertes de réévaluation (juste valeur)3 (1.4) 7.5
Elim. des résultats de cession et des pertes et profits de dilution4 (20.2) (0.2)
Capacité d'autofinancement après coût de l'endettement financier net et impôt5 391.4 294.9
Elim. de la charge (produit) d'impôt6 138.0 66.8
Elim. du coût de l'endettement financier net7 26.0 15.6
Capacité d'autofinancement avant coût de l'endettement financier net et impôt8 555.4 377.2
Incidence de la variation du BFR Impôts différés9 (192.5) (34.3)
Impôts payés (167.4) (78.5)
Flux de trésorerie liés aux activités opérationnelles 195.5 264.4
Acquisition d'immobilisations corporelles et incorporelles10 (279.9) (201.0)
Variation des autres actifs financiers11 (1.3) 0.0
Cession d'immobilisations corporelles et incorporelles12 42.4 0.2
Intérêts financiers versés13 (26.0) (15.6)
Flux de trésorerie liés aux activités d'investissement (264.8) (216.4)
Variations de dettes résultant de contrats location14 (9.8) (10.7)
Dividendes payés aux actionnaires de la mère (152.1) (81.9)
Dividendes payés aux minoritaires15 (0.5) (0.2)
Flux de trésorerie liés aux activités de financement (162.5) (92.8)
Variation de la trésorerie (231.8) (44.7)
Trésorerie d'ouverture 723.4 768.1
Trésorerie de clôture 491.6 723.4
Notes and alternative reported figures (15)
  1. “Résultat net de l'ensemble consolidé” is an issuer-specific line, not mapped to a shared definition: Opening line of the cash-flow statement.
  2. “Elim. des amortissements et provisions” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  3. “Elim. des profits / pertes de réévaluation (juste valeur)” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  4. “Elim. des résultats de cession et des pertes et profits de dilution” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  5. “Capacité d'autofinancement après coût de l'endettement financier net et impôt” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  6. “Elim. de la charge (produit) d'impôt” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  7. “Elim. du coût de l'endettement financier net” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  8. “Capacité d'autofinancement avant coût de l'endettement financier net et impôt” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  9. “Incidence de la variation du BFR Impôts différés” is an issuer-specific line, not mapped to a shared definition: Change in working capital; the label is printed on one row as 'Incidence de la variation du BFR Impôts différés' (p75).
  10. “Acquisition d'immobilisations corporelles et incorporelles” is an issuer-specific line, not mapped to a shared definition: Purchases of property, plant and equipment and intangibles combined.
  11. “Variation des autres actifs financiers” is an issuer-specific line, not mapped to a shared definition: Investing.
  12. “Cession d'immobilisations corporelles et incorporelles” is an issuer-specific line, not mapped to a shared definition: Disposals of property, plant and equipment and intangibles combined.
  13. “Intérêts financiers versés” is an issuer-specific line, not mapped to a shared definition: Interest paid, printed within investing activities.
  14. “Variations de dettes résultant de contrats location” is an issuer-specific line, not mapped to a shared definition: Financing: lease liability payments.
  15. “Dividendes payés aux minoritaires” is an issuer-specific line, not mapped to a shared definition: Financing.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)1 69.70 36.21
Profit / (loss) attributable to shareholders (MAD millions)2 271.8 141.2
Shares in issue at year end (shares)3 3,900,000 3,900,000
Notes and alternative reported figures (3)
  1. Earnings / (loss) per share: printed as “- de base”.
  2. Profit / (loss) attributable to shareholders: printed as “Résultat net - Part du groupe”.
  3. Shares in issue at year end: printed as “Nb d'actions - Mère”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividendes payés aux actionnaires de la mère (152.1) MAD millions Annual report, p75
31 Dec 2024 Dividends paid (cash flow statement) Dividendes payés aux actionnaires de la mère (81.9) MAD millions Annual report, p75

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • SONASID — Rapport Financier Annuel 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Deloitte Audit; PwC Maroc (commissaires aux comptes), unmodified opinion · signed

    Auditor's sign-off: Sakina Bensouda Korachi, Associée, Deloitte Audit; Mohamed Rqibate, Associé, PwC Maroc

    Final status: Commissaires aux comptes' 'Rapport d'audit sur les états financiers consolidés, exercice du 1er janvier au 31 décembre 2025' (Deloitte Audit, Sakina Bensouda Korachi, Associée; PwC Maroc, Mohamed Rqibate, Associé), unqualified, dated 'Casablanca, le 28 avril 2026', with handwritten signatures over the firms' stamps (PDF pp95-97, page images). The consolidated accounts were 'arrêtés le 12 mars 2026 par le Conseil d'Administration' (note 2, PDF p78); no board signature is printed with the statements.

    Document date
    28 Apr 2026
    Auditor's report
    28 Apr 2026
    Board approval
    12 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · MAD millions (printed “En millions de dirhams”)
    • Directory name 'SOCIETE NATIONALE DE SIDERURGIE SA'; the report prints 'SONASID S.A.' (auditors' report, p95) and 'Sonasid ... Créée par l'Etat marocain en 1974' (p14). Same issuer, trading name SONASID (listing name 'SONASID').
    • Amounts in millions of dirhams rounded line by line: some printed subtotals differ from the sum of their lines by 0,1 (2025: autres produits et charges d'exploitation (non courants) 1,4 against 1,3; actifs courants 3 630,1 against 3 630,0; passifs courants 2 966,2 against 2 966,3; total passif 3 433,7 against 3 433,6; flux de financement -162,5 against -162,4) (pp74-75). Kept as printed.
    • Interest paid ('Intérêts financiers versés', -26,0; 2024: -15,6) is printed within investing activities. Validation fail explained: closing cash in the cash-flow statement (491,6) is net of bank overdrafts ('Trésorerie Passive' 5,1, within current financial debts) and differs from balance-sheet cash (496,7); note 30.2 reconciles 496,7 - 5,1 = 491,6 (p94). Kept as printed. 'Résultats sur instruments financiers' is printed within the non-current operating items.
    Technical details
    File
    100 pages, with a text layer
    SHA-256
    10fa0d509660825664a52775b36512640e24f9e7b7f2ac84d4fe51ceaaa6ed47
    Entity as printed
    SONASID S.A. et sa filiale (Groupe SONASID)
    Regulator copy
    retrieved 2026-10-08T18:39:36Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (16 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

Download

Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

· Company methodology and coverage