SONASID Cash Flow Statement

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
Net Income	216.92	141.24	65.08	85.93	107.77	-28.05
Depreciation & Amortization	145.16	144.03	143.22	164.15	149.7	150.8
Other Amortization	1.8	1.8	2	2	1.6	1.6
Loss (Gain) From Sale of Assets	-0.15	-0.15	-0.48	0.08	-1.17	-1.96
Other Operating Activities	21.47	11.82	34.88	-8.76	-5.75	-1.83
Change in Other Net Operating Assets	-182.21	-34.31	58.6	-57.33	-0.99	263.71
Operating Cash Flow	202.99	264.42	303.31	186.07	251.15	384.27
Operating Cash Flow Growth	-8.71%	-12.82%	63.01%	-25.91%	-34.64%	-11.03%
Capital Expenditures	-227.48	-200.95	-236	-147.41	-96.47	-138.13
Sale of Property, Plant & Equipment	0.15	0.15	0.48	-	1.37	2.61
Investment in Securities	-1.26	0.01	-	-0.02	-	0.02
Other Investing Activities	-23.78	-15.59	-34.3	-12.55	-9.08	-8.44
Investing Cash Flow	-252.37	-216.38	-269.83	-159.98	-104.18	-143.94
Long-Term Debt Issued	-	-	0.71	-	-	72.96
Long-Term Debt Repaid	-	-10.69	-	-6.66	-7.48	-
Net Debt Issued (Repaid)	-10.96	-10.69	0.71	-6.66	-7.48	72.96
Common Dividends Paid	-152.11	-81.91	-117	-148.2	-27.26	-
Other Financing Activities	70.01	-0.18	-0.69	0.53	1.9	-1.01
Financing Cash Flow	-93.06	-92.77	-116.98	-154.33	-32.84	71.95
Net Cash Flow	-142.44	-44.72	-83.5	-128.24	114.13	312.29
Free Cash Flow	-24.5	63.47	67.31	38.66	154.68	246.14
Free Cash Flow Growth	-	-5.70%	74.11%	-75.01%	-37.16%	-35.17%
Free Cash Flow Margin	-0.40%	1.16%	1.35%	0.79%	3.44%	7.81%
Free Cash Flow Per Share	-6.28	16.27	17.26	9.91	39.66	63.11
Cash Interest Paid	23.78	15.59	34.3	12.55	9.08	8.44
Cash Income Tax Paid	119.59	78.51	41.89	64.51	75.66	18.04
Levered Free Cash Flow	28.43	41.98	19.69	56.26	158.73	264.51
Unlevered Free Cash Flow	43.29	51.73	41.13	64.1	164.4	269.78
Change in Working Capital	-182.21	-34.31	58.6	-57.33	-0.99	263.71

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