PRO Cash Flow Statement

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	2018 - 2014
Period Ending	Dec '23 Dec 31, 2023	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	2018 - 2014
Net Income	56.9	56.9	75.28	68.97	-	-	Upgrade
Depreciation & Amortization	12.02	12.02	9.13	-	-	-	Upgrade
Other Operating Activities	276.88	276.88	312.25	360.77	-	-	Upgrade
Change in Other Net Operating Assets	-231.58	-231.58	-197.44	-182.57	-	-	Upgrade
Operating Cash Flow	114.21	114.21	199.22	247.17	-	-	Upgrade
Operating Cash Flow Growth	-42.67%	-42.67%	-19.40%	-	-	-	Upgrade
Capital Expenditures	-117.83	-117.83	-128.9	-31.64	-	-	Upgrade
Sale of Property, Plant & Equipment	0.2	0.2	0.59	0.1	-	-	Upgrade
Sale (Purchase) of Intangibles	-1.05	-1.05	-3.03	-4.89	-	-	Upgrade
Other Investing Activities	0.01	0.01	-0.04	0.75	-	-	Upgrade
Investing Cash Flow	-118.68	-118.68	-131.38	-35.67	-	-	Upgrade
Long-Term Debt Issued	46.49	46.49	39.89	30	-	-	Upgrade
Long-Term Debt Repaid	-9.65	-9.65	-2.36	-	-	-	Upgrade
Net Debt Issued (Repaid)	36.84	36.84	37.53	30	-	-	Upgrade
Common Dividends Paid	-40	-40	-40	-30	-	-	Upgrade
Other Financing Activities	8.34	8.34	-	-	-	-	Upgrade
Financing Cash Flow	5.18	5.18	-2.47	-	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	68.68	68.68	-10.58	-267.5	-	-	Upgrade
Net Cash Flow	69.38	69.38	54.8	-56.01	-	-	Upgrade
Free Cash Flow	-3.63	-3.63	70.32	215.53	-	-	Upgrade
Free Cash Flow Growth	-	-	-67.37%	-	-	-	Upgrade
Free Cash Flow Margin	-0.45%	-0.45%	9.98%	34.18%	-	-	Upgrade
Free Cash Flow Per Share	-3.63	-3.63	70.32	215.53	-	-	Upgrade
Levered Free Cash Flow	-109.72	-109.72	-118.95	73.69	-	-	Upgrade
Unlevered Free Cash Flow	-106.83	-106.83	-118.06	73.89	-	-	Upgrade
Change in Net Working Capital	55.36	55.36	73.38	-44.83	66.98	-112.86	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.