M2M Group Balance Sheet

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
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
Cash & Equivalents	83.91	29.53	25.03	38.62	133.87	143.11
Short-Term Investments	110	128.03	91.5	91	-	-
Cash & Short-Term Investments	193.91	157.56	116.53	129.62	133.87	143.11
Cash Growth	55.04%	35.21%	-10.10%	-3.17%	-6.46%	7.65%
Accounts Receivable	75.45	85.39	90.4	86.2	103.43	111.47
Other Receivables	74.66	56.54	48.51	53.82	44.01	39.59
Receivables	150.11	141.93	138.91	140.02	147.44	151.07
Inventory	3.04	1.15	1.52	1.63	11.86	11.86
Total Current Assets	347.05	300.64	256.96	271.27	293.18	306.04
Property, Plant & Equipment	2.66	3.4	4.27	5.09	4.3	5.06
Other Intangible Assets	7.18	5.53	8.8	7.29	9.82	13.38
Other Long-Term Assets	2.05	2.05	0.71	0.67	0.66	0.77
Total Assets	358.94	311.63	270.73	284.31	307.96	325.25
Accounts Payable	21.67	22.46	29.96	34.83	24.95	24.93
Accrued Expenses	-	37.9	-	-	-	-
Other Current Liabilities	-	6.43	-	-	-	-
Total Current Liabilities	21.67	66.79	29.96	34.83	24.95	24.93
Long-Term Debt	0.56	1.06	0.57	0.58	0.91	1.96
Other Long-Term Liabilities	112.42	31.78	58.69	76.92	65.14	62.27
Total Liabilities	134.66	99.63	89.23	112.33	91	89.16
Common Stock	64.78	64.78	64.78	64.78	64.78	64.78
Additional Paid-In Capital	-	10.28	10.28	10.28	10.28	10.28
Retained Earnings	-0.45	14.65	-14.78	-33.61	-19.87	-10.45
Comprehensive Income & Other	86.28	55.12	67.13	86.41	107.85	121.25
Total Common Equity	150.61	144.83	127.41	127.86	163.05	185.86
Minority Interest	73.68	67.17	54.09	44.13	53.91	50.23
Shareholders' Equity	224.29	212	181.5	171.98	216.95	236.09
Total Liabilities & Equity	358.94	311.63	270.73	284.31	307.96	325.25
Total Debt	0.56	1.06	0.57	0.58	0.91	1.96
Net Cash (Debt)	193.35	156.5	115.95	129.04	132.96	141.16
Net Cash Growth	55.76%	34.97%	-10.14%	-2.95%	-5.80%	7.51%
Net Cash Per Share	298.24	241.62	178.99	199.21	205.27	217.88
Filing Date Shares Outstanding	0.65	0.65	0.65	0.65	0.65	0.65
Total Common Shares Outstanding	0.65	0.65	0.65	0.65	0.65	0.65
Working Capital	325.38	233.85	226.99	236.44	268.23	281.1
Book Value Per Share	232.50	223.58	196.69	197.38	251.70	286.92
Tangible Book Value	143.43	139.3	118.61	120.56	153.22	172.48
Tangible Book Value Per Share	221.42	215.05	183.11	186.12	236.53	266.27

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