Cash Plus Balance Sheet

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
Cash & Equivalents	204.25	209.4	152.06	69.21	58.95
Short-Term Investments	2,027	1,548	-	-	-
Trading Asset Securities	515.17	156.38	6.22	1.35	0.1
Cash & Short-Term Investments	2,746	1,913	158.27	70.56	59.05
Cash Growth	43.53%	1108.97%	124.30%	19.50%	-
Other Receivables	416.97	393.49	292.27	139.5	103.3
Receivables	416.97	393.49	1,028	501.98	368.66
Prepaid Expenses	0.93	0.37	0.86	0.88	-
Other Current Assets	7.19	6.32	5.05	3.05	-
Total Current Assets	3,171	2,314	1,192	576.47	427.7
Property, Plant & Equipment	633.62	576.2	419.07	279.92	191.21
Goodwill	51.7	51.7	51.7	51.7	51.7
Other Intangible Assets	12.88	12.65	10.91	10.26	7.13
Long-Term Deferred Tax Assets	38.65	29.26	18.76	14.95	-4.89
Long-Term Deferred Charges	60.38	51.55	45.3	38.09	25.54
Other Long-Term Assets	-	-	-0	0.17	-
Total Assets	3,969	3,035	1,738	971.57	698.39
Accounts Payable	127.32	123.35	81.27	103.42	56.73
Accrued Expenses	138.71	113.7	52.47	34.75	21.87
Short-Term Debt	-	-	-	3.3	0.1
Current Portion of Long-Term Debt	-	-	7.54	4.56	-
Current Portion of Leases	49.01	39.85	35.58	10.4	-
Current Income Taxes Payable	30.72	44.84	40.17	30.13	34.2
Other Current Liabilities	118.38	64.98	141.05	-	-
Total Current Liabilities	464.14	386.71	358.08	186.55	112.9
Long-Term Debt	19.16	27.06	27.03	-	8.89
Long-Term Leases	566.85	508.05	356.74	249.7	133.31
Long-Term Deferred Tax Liabilities	0.77	1	0.69	0.84	0.67
Other Long-Term Liabilities	2,136	1,729	828.86	339.11	245.46
Total Liabilities	3,187	2,652	1,571	776.19	501.22
Common Stock	245.53	54.25	50	50	50
Retained Earnings	242.3	196.47	157.75	133.67	108.03
Comprehensive Income & Other	302.95	140.31	-40.92	11.71	39.14
Total Common Equity	790.78	391.03	166.83	195.38	197.17
Minority Interest	-9.38	-8.3	-0.2	-	-
Shareholders' Equity	781.39	382.73	166.63	195.38	197.17
Total Liabilities & Equity	3,969	3,035	1,738	971.57	698.39
Total Debt	635.03	574.97	426.89	267.95	142.3
Net Cash (Debt)	2,111	1,339	-268.62	-197.39	-83.25
Net Cash Growth	57.73%	-	-	-	-
Net Cash Per Share	85.99	2467.31	-537.23	-394.77	-166.50
Filing Date Shares Outstanding	24.55	0.54	0.5	0.5	0.5
Total Common Shares Outstanding	24.55	0.54	0.5	0.5	0.5
Working Capital	2,707	1,927	834.21	389.92	314.81
Book Value Per Share	32.21	720.79	333.66	390.75	394.34
Tangible Book Value	726.2	326.68	104.22	133.41	138.33
Tangible Book Value Per Share	29.58	602.17	208.44	266.82	276.67
Buildings	134.55	123.93	103.62	-	7.15
Machinery	42.28	37.94	32.28	-	22.87

Source: S&P Capital IQ. Standard template. Financial Sources.