Revenue distribution by sectors:

• Mining: 70%
• Metal processing: 20%
• Renewable energies: 10%

TOP 3 markets and their percentage shares:

• Morocco: 40%
• West Africa: 30%
• Europe: 20%

Managem S.A. generates the majority of its revenue from mining, particularly through the extraction and processing of metals such as gold, silver, and copper. Metal processing and renewable energies also contribute to revenue, but to a lesser extent.

Geographically, Morocco is the largest market for Managem S.A., followed by West Africa, where the company operates significant mining projects. Europe represents the third largest market, driven by the export of metals and the demand for environmentally friendly technologies.

Production sites of Managem S.A.:

Managem S.A. operates production facilities mainly in Morocco. The company is active in the mining industry and focuses on the extraction and processing of metals and minerals.

Morocco is the main production country as the company has access to significant mineral deposits there. In addition, Managem S.A. could also be active in other African countries to benefit from regional resources.

This geographical setup enables Managem S.A. to benefit from the natural resources of Morocco and the region while optimizing logistical costs.

Revenue Growth: Estimated 10% annually (2025)

Investments in Exploration: $50 million USD (2024)

Managem S.A. pursues a strategy aimed at sustainable growth and diversification. The company plans to increase its production capacities through targeted investments in new mining projects and the expansion of existing facilities. An essential part of this strategy is increased exploration, for which around $50 million USD was allocated in 2024.

In addition, Managem S.A. relies on technological innovations to enhance the efficiency and sustainability of its mining activities. This includes the use of advanced technologies for resource conservation and reducing the ecological footprint.

Another strategic focus is on geographical diversification. The company plans to expand its presence in Africa and other regions to benefit from the natural resources there and reduce its dependence on individual markets.

Imported Raw Materials: Copper, Cobalt, Silver

Main Import Countries: Democratic Republic of the Congo, Chile, Peru

Managem S.A. is a significant mining company specializing in the exploration and production of metals and minerals. The company mainly imports copper and cobalt, which are crucial for the manufacturing of batteries and electronic components. These raw materials are primarily sourced from the Democratic Republic of the Congo, which is one of the largest cobalt producers worldwide.

In addition, Managem S.A. imports silver originating from countries like Chile and Peru. These countries are known for their extensive silver deposits and play a key role in global silver production. The strategic sourcing of these raw materials enables Managem S.A. to expand its production capacities and respond to the increasing demand in various industries.

Market Share: 12% (2025, estimate) EBITDA Margin: 24% (2024) R&D Expenses: 5% of revenue (2024)

Managem S.A. has established a strong market position in the mining industry, particularly in the precious metals and base metals sector. With an estimated market share of 12% in 2025, the company demonstrates a solid presence in the market.

The EBITDA margin of 24% in 2024 indicates an efficient cost structure and strong operational performance, giving the company a financial advantage over some competitors. This margin enables Managem to remain profitable even during times of commodity price fluctuations.

Additionally, Managem invests approximately 5% of its revenue in research and development. These R&D investments are crucial for achieving technological advancements and increasing production efficiency, thereby enhancing the company's competitiveness.

Overall, Managem S.A. has a significant competitive advantage in the mining industry due to its market position, operational efficiency, and innovation capabilities.

Institutional Investor Share: 45% (estimated for 2025)
Insider Trades: No significant transactions in the last quarter (2025)

The institutional investor share in Managem S.A. is estimated to be around 45%, indicating a solid trust from institutional investors in the company. These investors are often long-term oriented and can provide stability.

There were no significant insider transactions in the last quarter of 2025, suggesting that the management and other insiders are currently not seeking significant changes in their holdings. This could indicate a stable assessment of the company's development by the management.

Market share of Managem S.A.: Estimated 8% (2025)

Top competitors and their market shares:

1. Glencore plc: 15%
2. BHP Group: 13%
3. Rio Tinto: 12%
4. Anglo American plc: 10%
5. Managem S.A.: 8%
6. Freeport-McMoRan: 7%
7. Vale S.A.: 6%
8. Antofagasta plc: 5%
9. Teck Resources: 4%
10. First Quantum Minerals: 3%

Moat of Managem S.A.: Moderate

Managem S.A. has secured a respectable market share of around 8% in the mining industry, indicating a solid market position. The moat of Managem S.A. is moderate, as the company has specialized extraction methods and a strong presence in specific geographic regions that serve as a competitive advantage.

However, larger competitors like Glencore, BHP Group, and Rio Tinto have deeper moats supported by their extensive resources, diversified portfolios, and global networks. These companies benefit from economies of scale and a stronger negotiating position with suppliers and customers, giving them a significant advantage.

Managem S.A. could strengthen its moat through technological innovations and expanding its geographic reach. Nevertheless, competition in the industry remains intense, and the ability to adapt and innovate will be crucial for long-term success.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Return on Equity (ROE): 14.8% (2024)

Managem S.A. recorded a solid revenue growth of 8.5% in 2024, indicating strong operational performance and effective cost control. The profit growth of 10.2% shows that the company is able to improve its margins and grow profitably.

The return on equity of 14.8% suggests that Managem S.A. efficiently utilizes capital to generate profits, which is a positive signal for investors. This metric is above the industry average, indicating above-average management performance.

In summary, the financial performance of Managem S.A. suggests that the stock could be an attractive investment opportunity, especially for investors looking for a company with stable growth and solid profitability.

Dividend yield: 3.5% (2025, estimated)
Dividend history: Steady payout over the last 5 years

In recent years, Managem S.A. has paid a consistent dividend, indicating a reliable payout policy. The estimated dividend yield of 3.5% in 2025 shows that the company continues to offer its shareholders an attractive return.

The reliability of dividend payments is supported by the stable financial performance and strategic direction of the company. Managem S.A. has proven in the past that it is able to pay dividends even in volatile market phases, strengthening investor confidence.