Cosumar 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	2015 - 2019
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	2015 - 2019
Net Income	826.2	850.4	1,009	825.9	763	809.8	Upgrade
Depreciation & Amortization	299.5	416.4	450.9	427	441.2	421.9	Upgrade
Asset Writedown & Restructuring Costs	14.1	-64.2	-62	-45.2	68.5	-9	Upgrade
Other Operating Activities	-84.9	-100.2	400.5	-40.9	101.1	80.5	Upgrade
Change in Other Net Operating Assets	-514.6	898.5	-1,326	-918	699.4	-623.6	Upgrade
Operating Cash Flow	540.3	2,001	472.7	248.8	2,073	679.6	Upgrade
Operating Cash Flow Growth	-49.88%	323.29%	89.99%	-88.00%	205.06%	-58.94%	Upgrade
Capital Expenditures	-204	-199.4	-241.9	-282.6	-268.4	-464.9	Upgrade
Sale of Property, Plant & Equipment	86.3	86.3	0.1	1.2	0.8	7.2	Upgrade
Other Investing Activities	10.1	-5.7	7.6	31.7	-4	-27.1	Upgrade
Investing Cash Flow	-107.6	-118.8	-234.2	-249.7	-271.6	-484.8	Upgrade
Long-Term Debt Issued	-	-	6.9	-	-	-	Upgrade
Long-Term Debt Repaid	-	-2.3	-	-2.6	-9.5	-52.1	Upgrade
Net Debt Issued (Repaid)	-5.4	-2.3	6.9	-2.6	-9.5	-52.1	Upgrade
Common Dividends Paid	-944.9	-944.9	-661.4	-566.9	-566.9	-661.4	Upgrade
Other Financing Activities	-41.7	-38	-50.1	-30.4	-73.1	-61.9	Upgrade
Financing Cash Flow	-992	-985.2	-704.6	-599.9	-649.5	-775.4	Upgrade
Miscellaneous Cash Flow Adjustments	-0.1	-	-	-0.1	-0.1	-0.1	Upgrade
Net Cash Flow	-559.4	896.9	-466.1	-600.9	1,152	-580.7	Upgrade
Free Cash Flow	336.3	1,802	230.8	-33.8	1,805	214.7	Upgrade
Free Cash Flow Growth	-60.54%	680.55%	-	-	740.62%	-79.46%	Upgrade
Free Cash Flow Margin	3.17%	17.59%	2.25%	-0.32%	15.32%	1.79%	Upgrade
Free Cash Flow Per Share	-	-	2.44	-0.36	19.10	-	Upgrade
Cash Income Tax Paid	479.6	515.5	515.7	479.5	412.4	357	Upgrade
Levered Free Cash Flow	355.58	1,973	-305.64	20.08	1,716	127.08	Upgrade
Unlevered Free Cash Flow	377.58	1,978	-267.01	20.08	1,755	167.7	Upgrade
Change in Working Capital	-514.6	898.5	-1,326	-918	699.4	-623.6	Upgrade

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