Sanlam Maroc 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	FY 2020	2015 - 2019
Period Ending	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	680.46	559.43	-70.18	606.86	198.17	Upgrade
Depreciation & Amortization	136.11	125.05	123.38	276.18	220.78	Upgrade
Gain (Loss) on Sale of Assets	6,772	4,331	10,413	16,201	595.22	Upgrade
Change in Accounts Receivable	-20.1	-156.87	-231.33	113.62	93.48	Upgrade
Change in Other Net Operating Assets	212.58	51.21	-228.23	-254.15	-24.24	Upgrade
Other Operating Activities	-258.72	235.45	959.4	-168.99	87.01	Upgrade
Operating Cash Flow	7,513	5,138	10,949	16,771	1,164	Upgrade
Operating Cash Flow Growth	46.22%	-53.08%	-34.71%	1341.30%	-18.30%	Upgrade
Capital Expenditures	-48.29	-113.51	-52.34	-168.47	-26.62	Upgrade
Sale of Property, Plant & Equipment	90.21	25.41	-	-	-	Upgrade
Cash Acquisitions	-	-	-	-	0.26	Upgrade
Investment in Securities	-7,225	-5,718	-10,434	-16,993	-663.69	Upgrade
Other Investing Activities	-	-	-	207	-	Upgrade
Investing Cash Flow	-7,183	-5,806	-10,463	-16,931	-689.38	Upgrade
Long-Term Debt Issued	0.59	6.48	0.44	6	-	Upgrade
Total Debt Repaid	-17.01	-24.62	-6.17	-4.55	-6.11	Upgrade
Net Debt Issued (Repaid)	-16.42	-18.13	-5.74	1.46	-6.11	Upgrade
Common Dividends Paid	-317.25	-148.21	-144.09	-82.34	-123.68	Upgrade
Other Financing Activities	-87.01	876.81	-301.76	57.92	-521.67	Upgrade
Financing Cash Flow	-420.68	710.47	-451.58	-22.96	-651.46	Upgrade
Miscellaneous Cash Flow Adjustments	0.12	-	-	-	1.21	Upgrade
Net Cash Flow	-91.39	42.46	34.85	-182.71	-176.01	Upgrade
Free Cash Flow	7,464	5,024	10,897	16,603	1,137	Upgrade
Free Cash Flow Growth	48.57%	-53.89%	-34.37%	1360.23%	-16.63%	Upgrade
Free Cash Flow Margin	100.03%	72.03%	199.99%	242.10%	20.67%	Upgrade
Free Cash Flow Per Share	1813.11	1220.42	2646.92	4032.87	276.18	Upgrade
Cash Interest Paid	2.82	2.91	2.07	1.65	-	Upgrade
Cash Income Tax Paid	77.95	69.82	45.14	67.34	69.02	Upgrade
Levered Free Cash Flow	755.35	160.28	-448.8	12,094	378.27	Upgrade
Unlevered Free Cash Flow	755.4	160.28	-448.8	12,094	378.27	Upgrade
Change in Working Capital	192.49	-105.66	-459.56	-140.53	69.24	Upgrade

Updated Dec 31, 2024. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.