Cosumar 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	703.7	850.4	1,009	825.9	763
Depreciation & Amortization	380	416.4	450.9	427	441.2
Asset Writedown & Restructuring Costs	-	-64.2	-62	-45.2	68.5
Other Operating Activities	41.3	-100.2	400.5	-40.9	101.1
Change in Other Net Operating Assets	426.5	898.5	-1,326	-918	699.4
Operating Cash Flow	1,552	2,001	472.7	248.8	2,073
Operating Cash Flow Growth	-22.46%	323.29%	89.99%	-88.00%	205.06%
Capital Expenditures	-244.6	-199.4	-241.9	-282.6	-268.4
Sale of Property, Plant & Equipment	0.6	86.3	0.1	1.2	0.8
Other Investing Activities	25.2	-5.7	7.6	31.7	-4
Investing Cash Flow	-218.8	-118.8	-234.2	-249.7	-271.6
Long-Term Debt Issued	-	-	6.9	-	-
Long-Term Debt Repaid	-55.6	-2.3	-	-2.6	-9.5
Net Debt Issued (Repaid)	-55.6	-2.3	6.9	-2.6	-9.5
Common Dividends Paid	-944.9	-944.9	-661.4	-566.9	-566.9
Other Financing Activities	-45	-38	-50.1	-30.4	-73.1
Financing Cash Flow	-1,046	-985.2	-704.6	-599.9	-649.5
Miscellaneous Cash Flow Adjustments	0.1	-	-	-0.1	-0.1
Net Cash Flow	287.3	896.9	-466.1	-600.9	1,152
Free Cash Flow	1,307	1,802	230.8	-33.8	1,805
Free Cash Flow Growth	-27.46%	680.55%	-	-	740.62%
Free Cash Flow Margin	9.07%	17.59%	2.25%	-0.32%	15.32%
Free Cash Flow Per Share	-	-	2.44	-0.36	19.10
Cash Income Tax Paid	-	515.5	515.7	479.5	412.4
Levered Free Cash Flow	1,335	1,973	-305.64	20.08	1,716
Unlevered Free Cash Flow	1,371	1,978	-267.01	20.08	1,755
Change in Working Capital	426.5	898.5	-1,326	-918	699.4

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