TAQA Morocco 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
Other Revenue	-	-	-	0	-
Revenue	10,638	10,878	13,191	13,604	7,812
Revenue Growth (YoY)	-2.21%	-17.53%	-3.03%	74.13%	0.30%
Depreciation & Amortization	812.77	833.92	854.5	840.49	824.34
Other Operating Expenses	7,382	7,412	9,629	9,850	4,557
Total Operating Expenses	8,195	8,245	10,483	10,691	5,382
Operating Income	2,443	2,633	2,708	2,913	2,431
Interest Expense	-489.53	-536.34	-354.22	-470.4	-498.41
Interest Income	165.72	146.54	87.66	17.25	28.66
Net Interest Expense	-323.82	-389.79	-266.56	-453.15	-469.75
Currency Exchange Gain (Loss)	-42.88	-3.45	-302.6	124.07	1.43
Other Non-Operating Income (Expenses)	-4.59	-11.07	-14.45	-51.82	-8.56
EBT Excluding Unusual Items	2,071	2,228	2,124	2,532	1,954
Asset Writedown	-	-6.56	4.95	1.73	-27.58
Other Unusual Items	-86.77	-124.58	-102.98	-86.73	-45.47
Pretax Income	1,985	2,097	2,026	2,447	1,881
Income Tax Expense	709.82	720.09	676.73	770.29	600.29
Earnings From Continuing Ops.	1,275	1,377	1,349	1,677	1,281
Minority Interest in Earnings	-294.11	-324.25	-311.9	-373.92	-275.71
Net Income	980.72	1,053	1,037	1,303	1,005
Net Income to Common	980.72	1,053	1,037	1,303	1,005
Net Income Growth	-6.85%	1.49%	-20.37%	29.64%	14.16%
Shares Outstanding (Basic)	24	24	24	24	24
Shares Outstanding (Diluted)	24	24	24	24	24
Shares Change (YoY)	-0.02%	0.02%	-0.00%	-0.00%	-0.01%
EPS (Basic)	41.58	44.63	43.98	55.23	42.60
EPS (Diluted)	41.58	44.63	43.98	55.23	42.60
EPS Growth	-6.83%	1.48%	-20.37%	29.65%	14.18%
Free Cash Flow	1,647	1,112	2,298	2,019	1,741
Free Cash Flow Per Share	69.85	47.13	97.43	85.60	73.82
Dividend Per Share	-	37.000	35.000	35.000	35.000
Dividend Growth	-	5.71%	-	-	-
Profit Margin	9.22%	9.68%	7.86%	9.58%	12.86%
Free Cash Flow Margin	15.49%	10.22%	17.42%	14.84%	22.29%
EBITDA	3,255	3,458	3,550	3,711	3,239
EBITDA Margin	30.60%	31.79%	26.91%	27.28%	41.45%
D&A For EBITDA	812.77	825.15	842.45	798.03	807.9
EBIT	2,443	2,633	2,708	2,913	2,431
EBIT Margin	22.96%	24.20%	20.53%	21.41%	31.11%
Effective Tax Rate	35.77%	34.34%	33.40%	31.48%	31.92%
Revenue as Reported	10,699	10,895	13,198	13,631	7,837

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.