CBSE:TMA 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	851.08	934.2	50.25	488.12	934.91
Depreciation & Amortization	320.23	316.83	338.27	314.02	313.74
Loss (Gain) From Sale of Assets	-62.77	-11.12	-26.8	-0.35	-3.8
Loss (Gain) on Equity Investments	-9.78	-1.48	-3.88	1.82	6.37
Other Operating Activities	60.8	-9.23	13.44	-0.72	-6.51
Change in Other Net Operating Assets	687.68	-66.99	1,387	-1,164	-407.69
Operating Cash Flow	1,847	1,162	1,758	-361.12	837.01
Operating Cash Flow Growth	58.95%	-33.91%	-	-	-39.67%
Capital Expenditures	-541.13	-351.33	-584.57	-349.55	-434.21
Sale of Property, Plant & Equipment	66.68	11.18	31.19	5.2	4.06
Investment in Securities	-18	-	-	-27.9	-
Investing Cash Flow	-492.24	-340.21	-553.31	-361.42	-430.38
Long-Term Debt Issued	45.73	29.55	87.92	-	-
Total Debt Issued	45.73	29.55	87.92	-	-
Long-Term Debt Repaid	-	-	-	-113.06	-87.92
Net Debt Issued (Repaid)	45.73	29.55	87.92	-113.06	-87.92
Common Dividends Paid	-1,613	-501.76	-501.76	-501.76	-451.53
Financing Cash Flow	-1,567	-472.21	-413.84	-614.82	-539.45
Net Cash Flow	-212.06	349.77	791.26	-1,337	-132.82
Free Cash Flow	1,306	810.87	1,174	-710.68	402.8
Free Cash Flow Growth	61.08%	-30.92%	-	-	-56.77%
Free Cash Flow Margin	8.63%	4.84%	6.93%	-3.60%	3.13%
Free Cash Flow Per Share	145.77	90.50	131.01	-79.32	44.96
Levered Free Cash Flow	1,247	664.77	1,354	-760.51	251.06
Unlevered Free Cash Flow	1,282	703.93	1,396	-727.84	271.07
Change in Working Capital	687.68	-66.99	1,387	-1,164	-407.69

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