AFMA S.A. (CBSE:AFM)

AFMA S.A. Income Statement

Financials in millions MAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	304.74	286.22	258.77	243.69	221.88	203.62
Revenue	304.74	286.22	258.77	243.69	221.88	203.62
Revenue Growth (YoY)	11.20%	10.61%	6.19%	9.83%	8.97%	5.01%
Cost of Revenue	155.57	145.01	131.85	124.73	112.57	99.97
Gross Profit	149.17	141.21	126.92	118.96	109.31	103.64
Selling, General & Admin	-	-	1.45	1.27	1.19	0.98
Other Operating Expenses	4.53	3.7	2.73	2.38	1.86	2.29
Operating Expenses	26.76	24.19	21.11	19.21	15.94	16.27
Operating Income	122.41	117.02	105.81	99.75	93.36	87.37
Interest Expense	-8.38	-8.78	-6.82	-5.82	-5.72	-5.06
Other Non Operating Income (Expenses)	0.67	0.7	0.45	0.11	0.14	0.46
EBT Excluding Unusual Items	114.7	108.94	99.45	94.04	87.78	82.77
Other Unusual Items	-7.6	-6.59	-6.52	-3.14	-0.99	-17.24
Pretax Income	107.1	102.35	92.93	90.9	86.79	65.53
Income Tax Expense	26.89	28.13	30.45	29.45	26.86	22.22
Earnings From Continuing Operations	80.2	74.22	62.47	61.45	59.93	43.31
Minority Interest in Earnings	-2.83	-1.87	-2.48	-2.13	-2.08	-0.75
Net Income	77.38	72.35	60	59.32	57.85	42.56
Net Income to Common	77.38	72.35	60	59.32	57.85	42.56
Net Income Growth	17.52%	20.60%	1.14%	2.53%	35.94%	-15.12%
Shares Outstanding (Basic)	1	1	1	1	1	1
Shares Outstanding (Diluted)	1	1	1	1	1	1
Shares Change (YoY)	0.02%	0.01%	-0.00%	-0.01%	0.01%	-
EPS (Basic)	77.37	72.35	60.00	59.32	57.85	42.56
EPS (Diluted)	77.37	72.35	60.00	59.32	57.85	42.56
EPS Growth	17.50%	20.58%	1.15%	2.54%	35.93%	-15.12%
Free Cash Flow	-	-	66.39	28.03	50.54	95.73
Free Cash Flow Per Share	-	-	66.40	28.03	50.53	95.73
Dividend Per Share	60.000	60.000	55.000	55.000	54.000	47.000
Dividend Growth	9.09%	9.09%	-	1.85%	14.89%	-
Gross Margin	48.95%	49.34%	49.05%	48.82%	49.26%	50.90%
Operating Margin	40.17%	40.88%	40.89%	40.93%	42.08%	42.91%
Profit Margin	25.39%	25.28%	23.18%	24.34%	26.07%	20.90%
Free Cash Flow Margin	-	-	25.66%	11.50%	22.78%	47.01%
EBITDA	138.08	123.23	112.02	105.41	97.66	91.29
EBITDA Margin	45.31%	43.05%	43.29%	43.25%	44.02%	44.83%
D&A For EBITDA	15.67	6.21	6.21	5.66	4.3	3.91
EBIT	122.41	117.02	105.81	99.75	93.36	87.37
EBIT Margin	40.17%	40.88%	40.89%	40.93%	42.08%	42.91%
Effective Tax Rate	25.11%	27.48%	32.77%	32.40%	30.95%	33.91%
Revenue as Reported	304.74	286.24	258.78	243.7	222.11	203.62

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.