Disway 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	85.46	78.85	65.52	84.64	107.58
Depreciation & Amortization	13.8	8.12	8.48	8.81	9.12
Loss (Gain) From Sale of Assets	0.22	-2.46	-0.03	-0.5	0.09
Other Operating Activities	0	0	0	0	6.05
Change in Accounts Receivable	4.87	-15.29	93.23	-168.06	9.79
Change in Inventory	4.2	-23.01	151.16	-167.23	-64.34
Change in Other Net Operating Assets	1.82	55.13	-149.08	82.69	24.01
Operating Cash Flow	110.37	101.34	169.27	-159.65	92.3
Operating Cash Flow Growth	8.91%	-40.13%	-	-	-48.36%
Capital Expenditures	-16.75	-11.01	-25.57	-48.51	-4.06
Sale of Property, Plant & Equipment	0.08	1.68	0.17	0.51	0.22
Cash Acquisitions	-	-	-	-31.72	-
Investment in Securities	-0.02	-0.16	0.28	1.45	-
Other Investing Activities	-	-0	-	-	-0.47
Investing Cash Flow	-16.69	-9.48	-25.12	-78.28	-4.31
Long-Term Debt Issued	-	-	-	90.34	-
Long-Term Debt Repaid	-7.76	-14.43	-15.65	-7.91	-14.2
Net Debt Issued (Repaid)	-7.76	-14.43	-15.65	82.44	-14.2
Common Dividends Paid	-75.43	-66	-66	-132	-66
Financing Cash Flow	-83.19	-80.43	-81.65	-49.57	-80.2
Foreign Exchange Rate Adjustments	-9.7	-1.22	-0.1	3.46	-1.19
Miscellaneous Cash Flow Adjustments	9.6	-4.2	-	-	-
Net Cash Flow	10.39	6.01	62.4	-284.03	6.61
Free Cash Flow	93.62	90.33	143.7	-208.16	88.25
Free Cash Flow Growth	3.64%	-37.14%	-	-	-40.93%
Free Cash Flow Margin	4.51%	4.74%	7.69%	-10.67%	4.84%
Free Cash Flow Per Share	49.65	47.90	76.20	-110.37	49.43
Levered Free Cash Flow	63.89	12.82	175.53	-130.01	-9.82
Unlevered Free Cash Flow	63.89	12.82	176.98	-130.01	-9.82
Change in Working Capital	10.89	16.83	95.3	-252.6	-30.53