Cash Plus Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	196.47	157.75	133.67	108.03
Depreciation & Amortization	40.28	44.09	22.67	25.22
Other Amortization	16.31	13.56	9.07	-
Other Operating Activities	192.89	112.67	94.34	79.99
Change in Income Taxes	-176.67	-118.3	-106.62	-77.31
Change in Other Net Operating Assets	727.84	340.41	85.26	68.64
Operating Cash Flow	997.12	550.18	238.38	204.57
Operating Cash Flow Growth	81.23%	130.80%	16.53%	-
Capital Expenditures	-51.04	-39.26	-136.37	-29.02
Investment in Securities	-4.04	-0.19	-1.25	-0.1
Investing Cash Flow	-55.07	-39.45	-137.63	-29.12
Issuance of Common Stock	26.53	-	-	-
Common Dividends Paid	-	-174.69	-134.32	-
Other Financing Activities	-23.3	16.41	103.75	-80.71
Financing Cash Flow	3.23	-158.28	-30.57	-80.71
Net Cash Flow	945.28	352.45	70.19	94.74
Free Cash Flow	946.09	510.92	102.01	175.55
Free Cash Flow Growth	85.17%	400.86%	-41.89%	-
Free Cash Flow Margin	59.53%	48.06%	11.39%	23.57%
Free Cash Flow Per Share	1743.93	1021.84	204.02	351.10
Cash Income Tax Paid	176.67	118.3	106.62	77.31
Levered Free Cash Flow	903.23	-158.11	-42.99	-
Unlevered Free Cash Flow	920.62	-146.79	-35.9	-
Change in Working Capital	551.17	222.11	-21.36	-8.66

Source: S&P Global Market Intelligence. Standard template. Financial Sources.