Salafin Income 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
Interest and Dividend Income	-	234.29	250.72	257.62	265.77
Total Interest Expense	63.98	65.58	67.25	68.51	74.76
Net Interest Income	-63.98	168.72	183.47	189.11	191.01
Commissions and Fees	146.06	144.38	146.03	141.31	130.92
Other Revenue	670.78	442.31	477.82	481.96	495.37
Revenue Before Loan Losses	752.86	755.41	807.31	812.38	817.31
Provision for Loan Losses	63.14	77.76	95.37	101.32	100.07
Revenue	689.72	677.66	711.94	711.06	717.24
Revenue Growth (YoY)	1.78%	-4.82%	0.12%	-0.86%	25.24%
Salaries & Employee Benefits	79.22	65.8	67.45	70.57	70.11
Cost of Services Provided	426.85	435.89	475.12	479.17	489.53
Other Operating Expenses	-26.16	-0.68	0.48	1.44	8.2
Total Operating Expenses	489.38	511.88	555.03	563.73	579.88
Operating Income	200.34	165.78	156.91	147.33	137.36
EBT Excluding Unusual Items	200.34	165.78	156.91	147.33	137.36
Other Unusual Items	-8.89	-9.63	-7.6	-7.76	-0.4
Pretax Income	191.44	156.14	149.31	139.57	136.95
Income Tax Expense	95.33	63	58.73	53.82	52.23
Net Income	96.12	93.15	90.58	85.75	84.73
Net Income to Common	96.12	93.15	90.58	85.75	84.73
Net Income Growth	3.19%	2.84%	5.63%	1.21%	-
Shares Outstanding (Basic)	-	3	3	3	3
Shares Outstanding (Diluted)	-	3	3	3	3
Shares Change (YoY)	-	-0.59%	-1.66%	1.21%	-4.13%
EPS (Basic)	-	30.00	29.00	27.00	27.00
EPS (Diluted)	-	30.00	29.00	27.00	27.00
EPS Growth	-	3.45%	7.41%	0%	-
Free Cash Flow	232.29	-239.39	38.88	210.38	358.22
Free Cash Flow Per Share	-	-77.10	12.45	66.24	114.15
Dividend Per Share	-	14.750	14.250	13.500	26.550
Dividend Growth	-	3.51%	5.56%	-49.15%	-
Operating Margin	29.05%	24.46%	22.04%	20.72%	19.15%
Profit Margin	13.94%	13.74%	12.72%	12.06%	11.81%
Free Cash Flow Margin	33.68%	-35.33%	5.46%	29.59%	49.94%
Effective Tax Rate	49.79%	40.34%	39.34%	38.56%	38.13%
Revenue as Reported	813.64	817.65	871.24	877.49	-

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