Crédit du Maroc 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	FY 2020
Period Ending	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
Net Income	740.95	503.09	404.29	627.39	190.32
Depreciation & Amortization	259.7	232.91	190.27	178.15	149.9
Gain (Loss) on Sale of Assets	-6.14	-4.43	-15.42	-3.87	-0.06
Gain (Loss) on Sale of Investments	19.85	289.8	-30.76	-422.26	574.24
Change in Income Taxes	-558.46	-396.45	-316.45	-365.82	-261.24
Change in Other Net Operating Assets	1,078	-3,158	-874.97	1,368	-187.49
Other Operating Activities	382.06	243.54	351.77	291.31	138.63
Operating Cash Flow	1,916	-2,289	-291.27	1,673	604.28
Operating Cash Flow Growth	-	-	-	176.89%	-81.61%
Capital Expenditures	-372.09	-441.63	-379.09	-365.74	-257.82
Investing Cash Flow	-372.09	-441.63	-379.09	-365.74	-257.82
Other Financing Activities	-137.2	2,000	705.99	-1,257	-795.61
Financing Cash Flow	-137.2	2,000	705.99	-1,257	-795.61
Foreign Exchange Rate Adjustments	0.31	-2.92	5.11	2.51	-3.71
Net Cash Flow	1,407	-733.85	40.74	53.39	-452.86
Free Cash Flow	1,544	-2,731	-670.37	1,307	346.47
Free Cash Flow Growth	-	-	-	277.38%	-88.37%
Free Cash Flow Margin	53.26%	-110.25%	-29.88%	54.65%	20.88%
Free Cash Flow Per Share	141.88	-250.96	-61.60	120.16	31.84
Cash Income Tax Paid	558.46	396.45	316.45	365.82	261.24

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