Managem Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	619.8	514.4	1,615	861.5
Depreciation & Amortization	1,279	1,199	1,100	1,077
Other Amortization	200.88	249.61	373.8	368
Loss (Gain) From Sale of Assets	14.1	-37.4	0.3	-
Asset Writedown & Restructuring Costs	-94.23	-49.12	26.5	-0.9
Loss (Gain) on Equity Investments	-12.5	95.8	-156.8	-67
Other Operating Activities	638.9	386	571.2	459.8
Change in Accounts Receivable	-574.3	-356.8	547	-934.4
Change in Inventory	-292.8	-88.6	-577.1	-262.3
Change in Other Net Operating Assets	1,343	518.8	-1,014	1,543
Operating Cash Flow	3,122	2,432	2,485	3,045
Operating Cash Flow Growth	28.36%	-2.11%	-18.39%	72.30%
Capital Expenditures	-7,254	-2,756	-2,174	-2,371
Sale of Property, Plant & Equipment	1.4	2.6	0.1	9.6
Cash Acquisitions	-111.7	-571.9	-	-2.9
Investment in Securities	0.7	-40.3	-2.5	-1.1
Other Investing Activities	-529.5	-434.1	-232.5	-312.7
Investing Cash Flow	-7,894	-3,800	-2,409	-2,678
Long-Term Debt Issued	2,803	2,002	1,500	2,622
Long-Term Debt Repaid	-858.6	-2,146	-1,624	-447.9
Net Debt Issued (Repaid)	1,945	-144.4	-124	2,174
Issuance of Common Stock	2,986	-	-	0.1
Common Dividends Paid	-355.9	-299.8	-199.9	-
Other Financing Activities	-588.8	-38.6	541.3	896
Financing Cash Flow	3,986	-482.8	217.4	3,070
Foreign Exchange Rate Adjustments	0.9	-99.2	169.4	48.1
Miscellaneous Cash Flow Adjustments	-16.1	0.2	-	-
Net Cash Flow	-800.9	-1,949	462.7	3,484
Free Cash Flow	-4,133	-323.8	310.8	673.3
Free Cash Flow Growth	-	-	-53.84%	-
Free Cash Flow Margin	-46.64%	-4.31%	3.22%	9.07%
Free Cash Flow Per Share	-348.30	-32.41	31.11	67.39
Cash Interest Paid	529.5	486.5	289.4	312.7
Cash Income Tax Paid	260.2	82	63.6	79.7
Levered Free Cash Flow	-5,770	-970.58	-114.18	363.88
Unlevered Free Cash Flow	-5,439	-666.52	66.7	559.31
Change in Working Capital	475.8	73.4	-1,045	346.1

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