AFMA S.A. Balance Sheet

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	61.68	11.46	19.66	11.1	27.13	44.65
Cash & Short-Term Investments	61.68	11.46	19.66	11.1	27.13	44.65
Cash Growth	13.30%	-41.73%	77.20%	-59.10%	-39.24%	43.85%
Accounts Receivable	1,182	833.47	640.03	596.21	671.11	546.14
Other Receivables	126.71	91.66	105.1	106.9	57.61	57.54
Receivables	1,309	925.13	745.13	703.12	728.73	603.68
Other Current Assets	-0	-	5.42	-	10.01	2.82
Total Current Assets	1,371	936.59	770.22	714.22	765.87	651.15
Property, Plant & Equipment	110.19	108.94	83.43	85.18	65.23	64.65
Goodwill	68.73	68.73	68.73	68.73	68.12	60.66
Other Intangible Assets	23.98	21.92	14.26	8.98	5.7	3.94
Long-Term Deferred Tax Assets	6.87	6.52	6.23	9.18	10.98	11.63
Other Long-Term Assets	-	-0	-0	-0	-	0
Total Assets	1,581	1,144	943.41	886.82	916.27	792.37
Accounts Payable	1,176	860.97	641.09	603.44	700.92	560.89
Accrued Expenses	-	-	7.91	7.43	6.69	7.03
Short-Term Debt	-	-	39.06	27.15	18.41	-
Current Portion of Long-Term Debt	46.16	14.87	5.88	5.61	4.17	22.83
Current Portion of Leases	13.27	13.07	11.65	10.08	8.39	7.78
Current Income Taxes Payable	-	-	8.7	9.15	8.35	6.66
Other Current Liabilities	177.14	76.14	80.84	69.57	45.28	70.18
Total Current Liabilities	1,413	965.06	795.13	732.44	792.21	675.37
Long-Term Debt	19.71	17.13	16.47	20.08	7.67	12.57
Long-Term Leases	84.06	88.59	76.3	84.69	73.01	73.36
Pension & Post-Retirement Benefits	0.38	0.32	0.36	0.27	0.19	-
Long-Term Deferred Tax Liabilities	1.98	1.64	0.23	0.1	0.16	0.16
Other Long-Term Liabilities	-	-	-	-0	0	0
Total Liabilities	1,519	1,073	888.49	837.57	873.25	761.46
Common Stock	10	10	10	10	10	10
Retained Earnings	51.38	72.35	60	59.32	57.85	42.56
Comprehensive Income & Other	-1.54	-13.84	-19.16	-23.52	-27.43	-22.71
Total Common Equity	59.83	68.52	50.84	45.8	40.42	29.85
Minority Interest	2.57	2.35	4.08	3.45	2.6	1.07
Shareholders' Equity	62.4	70.87	54.91	49.25	43.02	30.92
Total Liabilities & Equity	1,581	1,144	943.41	886.82	916.27	792.37
Total Debt	163.19	133.66	149.37	147.62	111.65	116.53
Net Cash (Debt)	-101.51	-122.21	-129.71	-136.52	-84.52	-71.88
Net Cash Per Share	-101.50	-122.20	-129.72	-136.52	-84.51	-71.88
Filing Date Shares Outstanding	1	1	1	1	1	1
Total Common Shares Outstanding	1	1	1	1	1	1
Working Capital	-42.15	-28.47	-24.91	-18.22	-26.34	-24.22
Book Value Per Share	59.83	68.52	50.84	45.80	40.42	29.85
Tangible Book Value	-32.88	-22.14	-32.16	-31.92	-33.4	-34.76
Tangible Book Value Per Share	-32.88	-22.14	-32.16	-31.92	-33.40	-34.76
Buildings	-	-	118.44	118.64	101.48	98.38
Machinery	-	-	0.88	0.88	0.88	0.88
Construction In Progress	-	-	1.29	2.35	0.26	0.26

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