Risma Cash Flow 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
Net Income	269.62	183.02	244.05	152.08	-171.83
Depreciation & Amortization	223.9	168.26	161.57	156.45	161.44
Other Operating Activities	-2.14	23.05	-55.33	5.68	-20.7
Change in Other Net Operating Assets	50.67	60.71	-204.43	121.73	-114.36
Operating Cash Flow	542.04	435.03	145.86	435.93	-145.45
Operating Cash Flow Growth	24.60%	198.26%	-66.54%	-	-
Capital Expenditures	-411.77	-133.94	-169.02	-91.88	-112.14
Sale of Property, Plant & Equipment	1.28	26.52	174	0.44	0.21
Cash Acquisitions	-321.53	-	-	-	-
Investment in Securities	-	0.17	-	-	-
Other Investing Activities	-524	0	-32.74	-0	0
Investing Cash Flow	-1,256	-107.26	-27.76	-91.44	-111.93
Short-Term Debt Issued	393.53	7.46	87.66	13.78	-
Long-Term Debt Issued	172.78	-	284	237.88	170.29
Total Debt Issued	566.31	7.46	371.66	251.66	170.29
Short-Term Debt Repaid	-	-	-	-	-8.56
Long-Term Debt Repaid	-76.57	-279.94	-657.13	-	-
Total Debt Repaid	-76.57	-279.94	-657.13	-	-8.56
Net Debt Issued (Repaid)	489.74	-272.48	-285.47	251.66	161.73
Common Dividends Paid	-168.72	-85.96	-	-0	-0
Other Financing Activities	-	-	-	0	-
Financing Cash Flow	321.01	-358.44	-285.47	251.66	161.72
Net Cash Flow	-392.97	-30.66	-167.37	596.15	-95.65
Free Cash Flow	130.27	301.09	-23.16	344.05	-257.59
Free Cash Flow Growth	-56.73%	-	-	-	-
Free Cash Flow Margin	7.98%	23.82%	-1.97%	33.19%	-49.08%
Free Cash Flow Per Share	9.09	21.02	-1.62	24.01	-17.98
Cash Income Tax Paid	44.19	18.13	9.18	4.51	3.04
Levered Free Cash Flow	23.45	193.03	-107.19	277.21	-206.17
Unlevered Free Cash Flow	88.85	253.62	-34	315.3	-144.5
Change in Working Capital	50.67	60.71	-204.43	121.73	-114.36

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