CBSE:CMA Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,377	914.16	970.2	905.08	1,197
Depreciation & Amortization	11.09	225.62	222.53	224.72	214.45
Other Operating Activities	352.35	51.37	-21.33	16.15	11.38
Change in Other Net Operating Assets	124.52	73.64	192.03	-640.8	155.19
Operating Cash Flow	1,865	1,265	1,363	505.14	1,578
Operating Cash Flow Growth	47.49%	-7.23%	169.91%	-67.99%	20.63%
Capital Expenditures	-2,728	-184.18	-161.03	-366.73	-271.13
Sale of Property, Plant & Equipment	120	30.06	2.94	19.45	63.37
Cash Acquisitions	-	-	-	-7.11	-16.54
Investment in Securities	57.94	-0.81	0.17	-1.55	-9.71
Other Investing Activities	-	-	-	-	0
Investing Cash Flow	-2,550	-154.94	-157.92	-355.94	-234.02
Long-Term Debt Issued	2,369	-	-	-	-
Long-Term Debt Repaid	-	-	-0.41	-1.83	-1.71
Net Debt Issued (Repaid)	2,369	-	-0.41	-1.83	-1.71
Common Dividends Paid	-866.16	-1,011	-866.16	-1,371	-1,444
Other Financing Activities	-16.98	-13.8	-15.4	-20.81	-17.55
Financing Cash Flow	1,486	-1,024	-881.97	-1,394	-1,463
Miscellaneous Cash Flow Adjustments	-	-	0	-0	-
Net Cash Flow	801.26	85.53	323.53	-1,245	-118.8
Free Cash Flow	-862.23	1,081	1,202	138.42	1,307
Free Cash Flow Growth	-	-10.13%	768.69%	-89.41%	8.36%
Free Cash Flow Margin	-15.79%	24.63%	27.75%	3.40%	31.52%
Free Cash Flow Per Share	-59.73	74.86	83.29	9.59	90.53
Levered Free Cash Flow	-1,565	1,162	1,082	20.12	1,108
Unlevered Free Cash Flow	-1,565	1,163	1,084	22.47	1,111
Change in Working Capital	124.52	73.64	192.03	-640.8	155.19

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