Label Vie Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Jun '25 Jun 30, 2025	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	2015 - 2019
Net Income	552.44	541.81	507.67	748.35	407.24	330.29	Upgrade
Depreciation & Amortization	645.8	610.73	532.34	-	-	-	Upgrade
Other Operating Activities	-86.76	-97.6	-24.29	185.49	421.99	382.8	Upgrade
Change in Accounts Receivable	-305.23	-247.89	-67.55	-225.15	191.39	-294.71	Upgrade
Change in Inventory	-466.34	-732.97	-281.69	-493.36	-218.7	-125.04	Upgrade
Change in Accounts Payable	676.84	676.84	233.93	-	-	-	Upgrade
Change in Other Net Operating Assets	360.66	-	-	673.46	424.07	11.23	Upgrade
Operating Cash Flow	1,377	750.92	900.42	888.8	1,226	304.57	Upgrade
Operating Cash Flow Growth	-	-16.60%	1.31%	-27.50%	302.53%	-58.55%	Upgrade
Capital Expenditures	-1,653	-1,476	-1,212	-1,145	-1,431	-651.68	Upgrade
Sale of Property, Plant & Equipment	32.41	514.2	133.51	1,269	2.78	337.53	Upgrade
Investment in Securities	167.4	167.1	-138.5	-1,152	-5.35	-36.51	Upgrade
Investing Cash Flow	-1,453	-794.28	-1,217	-1,027	-1,434	-350.66	Upgrade
Long-Term Debt Issued	-	1,859	1,455	613.2	1,267	1,081	Upgrade
Long-Term Debt Repaid	-	-989.04	-433.98	-308.26	-760.37	-739.73	Upgrade
Net Debt Issued (Repaid)	366.93	870.26	1,021	304.94	507.08	341.36	Upgrade
Common Dividends Paid	-320	-280	-250	-400	-170	-160	Upgrade
Other Financing Activities	12.38	2.64	5.87	180.5	-11.77	1.01	Upgrade
Financing Cash Flow	59.31	592.9	776.59	85.44	325.31	182.37	Upgrade
Net Cash Flow	-16.08	549.54	460.4	-53.08	117.31	136.28	Upgrade
Free Cash Flow	-275.19	-724.66	-311.2	-255.82	-205.43	-347.11	Upgrade
Free Cash Flow Margin	-1.58%	-4.41%	-1.97%	-1.83%	-1.75%	-3.15%	Upgrade
Free Cash Flow Per Share	-95.09	-352.35	-110.95	-90.06	-74.13	-125.00	Upgrade
Cash Interest Paid	235.82	227.64	200.1	130.21	136.62	129.7	Upgrade
Cash Income Tax Paid	258.15	260.02	222.82	203.14	165.41	112.8	Upgrade
Levered Free Cash Flow	-464.76	-899.52	-489.6	-791.88	-799.61	-542.32	Upgrade
Unlevered Free Cash Flow	-317.38	-757.25	-364.54	-710.5	-714.22	-461.26	Upgrade
Change in Working Capital	265.93	-304.02	-115.3	-45.05	396.76	-408.52	Upgrade

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