Fenie Brossette Income 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
Operating Revenue	756.51	698.17	602.97	569.08	531.7
Other Revenue	12.18	0	-	-	8.12
Revenue	768.69	698.17	602.97	569.08	539.82
Revenue Growth (YoY)	10.10%	15.79%	5.95%	5.42%	25.78%
Cost of Revenue	594.65	546.07	486.33	460.44	432.62
Gross Profit	174.04	152.1	116.64	108.65	107.2
Selling, General & Admin	118.19	112.18	92.96	79.32	71.89
Other Operating Expenses	23.83	14.08	6.56	9.96	29.1
Operating Expenses	142.01	126.26	99.52	89.28	100.99
Operating Income	32.03	25.84	17.12	19.36	6.21
Interest Expense	-11.01	-5.7	-6.98	-5.49	-4.34
Interest & Investment Income	-	3.11	4.33	-	-
Currency Exchange Gain (Loss)	-	1.18	1.16	0.99	1.34
Other Non Operating Income (Expenses)	2.21	-2.36	-3.63	-0.77	5.81
EBT Excluding Unusual Items	23.22	22.07	12	14.09	9.02
Other Unusual Items	-2.21	-0.06	-3.01	8.7	-2.55
Pretax Income	21.01	22.01	9	22.79	6.47
Income Tax Expense	6.16	5.4	1.77	2.28	2.66
Net Income	14.86	16.6	7.22	20.51	3.81
Net Income to Common	14.86	16.6	7.22	20.51	3.81
Net Income Growth	-10.52%	129.90%	-64.79%	438.60%	-
Shares Outstanding (Basic)	-	1	1	1	1
Shares Outstanding (Diluted)	-	1	1	1	1
EPS (Basic)	-	11.54	5.02	14.25	2.65
EPS (Diluted)	-	11.54	5.02	14.25	2.65
EPS Growth	-	129.90%	-64.79%	438.60%	-
Free Cash Flow	7.89	-14.76	-11.46	-44.28	29.33
Free Cash Flow Per Share	-	-10.26	-7.96	-30.77	20.38
Gross Margin	22.64%	21.79%	19.34%	19.09%	19.86%
Operating Margin	4.17%	3.70%	2.84%	3.40%	1.15%
Profit Margin	1.93%	2.38%	1.20%	3.60%	0.70%
Free Cash Flow Margin	1.03%	-2.11%	-1.90%	-7.78%	5.43%
EBITDA	41.51	34.09	25.89	29.4	18.39
EBITDA Margin	5.40%	4.88%	4.29%	5.17%	3.41%
D&A For EBITDA	9.48	8.24	8.77	10.04	12.18
EBIT	32.03	25.84	17.12	19.36	6.21
EBIT Margin	4.17%	3.70%	2.84%	3.40%	1.15%
Effective Tax Rate	29.29%	24.55%	19.71%	10.01%	41.14%
Revenue as Reported	768.69	709.51	614.27	582.41	539.84

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