Vicenne S.A Income 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
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
Revenue	996.79	836.62	699.69	592.68	477.47
Revenue Growth (YoY)	68.18%	19.57%	18.06%	24.13%	-
Cost of Revenue	602.48	496.16	427.84	356.82	274.62
Gross Profit	394.31	340.46	271.85	235.86	202.85
Selling, General & Admin	173.33	167.37	135.45	123.52	92.92
Amortization of Goodwill & Intangibles	10.09	10.09	10.09	7.48	5.34
Other Operating Expenses	-1.94	-1.23	-2.07	-0.97	1.05
Operating Expenses	193.67	188.42	145.32	135.3	119.58
Operating Income	200.64	152.04	126.53	100.57	83.27
Interest Expense	-14.99	-12.6	-11	-11.99	-2.87
Other Non Operating Income (Expenses)	-2.96	-0	-0	-	-
EBT Excluding Unusual Items	188.01	139.44	115.52	88.58	80.4
Other Unusual Items	-0.49	-0.49	-14.02	-0.07	-4.3
Pretax Income	187.52	138.96	101.5	88.51	76.1
Income Tax Expense	59.81	47.74	42.36	37.41	30.88
Earnings From Continuing Operations	127.71	91.22	59.14	51.1	45.22
Minority Interest in Earnings	-0.04	-0.01	-0.49	-2.52	-8.45
Net Income	127.67	91.22	58.65	48.58	36.77
Net Income to Common	127.67	91.22	58.65	48.58	36.77
Net Income Growth	162.80%	55.53%	20.72%	32.12%	-
Free Cash Flow	-50.18	-202.49	-	-	-
Gross Margin	39.56%	40.70%	38.85%	39.80%	42.48%
Operating Margin	20.13%	18.17%	18.08%	16.97%	17.44%
Profit Margin	12.81%	10.90%	8.38%	8.20%	7.70%
Free Cash Flow Margin	-5.03%	-24.20%	-	-	-
EBITDA	222.63	172.9	138.46	113.31	108.87
EBITDA Margin	22.34%	20.67%	19.79%	19.12%	22.80%
D&A For EBITDA	21.99	20.85	11.94	12.75	25.6
EBIT	200.64	152.04	126.53	100.57	83.27
EBIT Margin	20.13%	18.17%	18.08%	16.97%	17.44%
Effective Tax Rate	31.89%	34.35%	41.73%	42.27%	40.58%

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