Income Statement Mutandis SCA

Stocks

MUT

MA0000012395

Household Products

End-of-day quote Casablanca S.E. Other stock markets 2026-08-04			5-day change	1st Jan Change
233.75 ^MAD	-0.11%		+0.75%	-6.50%

02-23	Mutandis SCA announces Annual dividend, payable on July 10, 2026	CI
02-22	Mutandis SCA Reports Earnings Results for the Full Year Ended December 31, 2025	CI

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Published financial data: MUTANDIS SCA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2022	2023	2024	2025
Revenues	1.4B	2.33B	2.44B	2.12B	2.02B
Total Revenues	1.4B	2.33B	2.44B	2.12B	2.02B
Cost of Goods Sold, Total	830M	1.59B	1.55B	1.19B	1.2B
Gross Profit	566M	736M	897M	927M	822M
Selling General & Admin Expenses, Total	337M	460M	536M	559M	494M
Depreciation & Amortization - (IS)	84.15M	-	-	116M	105M
Amortization of Goodwill and Intangible Assets - (IS)	-	89.63M	102M	-	-
Other Operating Expenses	23.33M	14M	41.91M	-9.1M	41.36M
Other Operating Expenses, Total	445M	564M	680M	666M	641M
Operating Income	122M	172M	217M	260M	182M
Interest Expense, Total	-30.03M	-29.87M	-59.84M	-47.93M	-13.84M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-30.03M	-29.87M	-59.84M	-47.93M	-13.84M
Income (Loss) On Equity Invest.	-	-	-	-	-
Other Non Operating Income (Expenses)	1K	0	1K	-	12.03M
EBT, Excl. Unusual Items	91.68M	142M	157M	212M	180M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	91.68M	142M	157M	212M	180M
Income Tax Expense	23.96M	42.02M	44.35M	53.82M	53.25M
Earnings From Continuing Operations	67.73M	99.7M	113M	159M	127M
Net Income to Company	67.73M	99.7M	113M	159M	127M
Minority Interest	-106K	-174K	57K	-	-612K
Net Income - (IS)	67.62M	99.52M	113M	159M	126M
Net Income to Common Incl Extra Items	67.62M	99.52M	113M	159M	126M
Net Income to Common Excl. Extra Items	67.62M	99.52M	113M	159M	126M
Per Share Items
Net EPS - Basic	8.46	10.76	12.19	17.16	13.64
Basic EPS - Continuing Operations	8.46	10.76	12.19	17.16	13.64
Basic Weighted Average Shares Outstanding	8M	9.25M	9.25M	9.25M	9.25M
Net EPS - Diluted	8.46	10.76	12.19	17.16	13.64
Diluted EPS - Continuing Operations	8.46	10.76	12.19	17.16	13.64
Diluted Weighted Average Shares Outstanding	8M	9.25M	9.25M	9.25M	9.25M
Normalized Basic EPS	7.15	9.56	10.62	14.36	12.1
Normalized Diluted EPS	7.15	9.56	10.62	14.36	12.1
Dividend Per Share	8.5	8.5	10.5	10.5	10.5
Payout Ratio	-	79.55	70.26	61.38	77.73
Supplemental Items
EBITDA	182M	261M	318M	422M	303M
EBITA	122M	172M	223M	273M	197M
EBIT	122M	172M	217M	260M	182M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	26.13	29.65	28.25	25.33	29.58
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	26.26M	37.19M	39.02M	40.61M	44.59M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-2.31M	4.82M	5.32M	9.82M	4.44M
Normalized Net Income	57.2M	88.4M	98.18M	133M	112M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: December	2020	2022	2023	2024	2025
Assets
Cash And Equivalents	49.29M	102M	197M	195M	200M
Short Term Investments	35.05M	21.3M	65.33M	293M	59.25M
Total Cash And Short Term Investments	84.34M	123M	262M	488M	260M
Accounts Receivable, Total	285M	473M	489M	285M	258M
Other Receivables	97.46M	135M	163M	159M	118M
Total Receivables	382M	608M	652M	443M	376M
Inventory	274M	603M	431M	379M	289M
Other Current Assets, Total	2.38M	2.47M	1.22M	2.06M	1.71M
Total Current Assets	743M	1.34B	1.35B	1.31B	926M
Gross Property Plant And Equipment	1.19B	1.52B	1.85B	1.68B	1.74B
Accumulated Depreciation	-729M	-864M	-996M	-817M	-827M
Net Property Plant And Equipment	466M	653M	854M	860M	916M
Long-term Investments	132M	124M	218M	341M	382M
Goodwill	413M	419M	654M	498M	498M
Other Intangibles, Total	122M	439M	498M	526M	499M
Deferred Tax Assets Long-Term	1K	6.49M	6.14M	6.28M	1.57M
Deferred Charges Long-Term	2.12M	917K	401K	46K	-49K
Other Long-Term Assets, Total	121M	156M	153M	159M	161M
Total Assets	2B	3.13B	3.73B	3.7B	3.38B
Liabilities
Accounts Payable, Total	355M	655M	553M	365M	341M
Accrued Expenses, Total	53.79M	-	-	62.12M	67.84M
Short-term Borrowings	68.78M	293M	302M	317M	222M
Current Portion of Long-Term Debt	294M	250M	338M	55.04M	94.71M
Other Current Liabilities	57.94M	171M	218M	143M	99.37M
Total Current Liabilities	829M	1.37B	1.41B	942M	825M
Long-Term Debt	151M	394M	847M	1.11B	932M
Deferred Tax Liability Non Current	33.24M	38.15M	60.87M	80.71M	72.37M
Other Non Current Liabilities	-	-1K	-	-1K	-1K
Total Liabilities	1.01B	1.8B	2.32B	2.13B	1.83B
Common Stock, Total	800M	925M	925M	925M	925M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	67.62M	99.52M	113M	159M	126M
Comprehensive Income and Other	112M	304M	369M	479M	501M
Total Common Equity	980M	1.33B	1.41B	1.56B	1.55B
Minority Interest	4.42M	4.51M	4.95M	5.73M	2.39M
Total Equity	984M	1.33B	1.41B	1.57B	1.55B
Total Liabilities And Equity	2B	3.13B	3.73B	3.7B	3.38B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8M	9.25M	9.25M	9.25M	9.25M
ECS Total Common Shares Outstanding	8M	-	9.25M	9.25M	9.25M
Book Value / Share	122.5	143.66	152.11	169.02	167.78
Tangible Book Value	445M	470M	254M	539M	554M
Tangible Book Value Per Share	55.64	50.84	27.51	58.28	59.95
Total Debt	514M	937M	1.49B	1.48B	1.25B
Net Debt	429M	814M	1.22B	996M	989M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	4.42M	4.51M	4.95M	5.73M	2.39M
Account Code - Inventory Valuation	6	-	6	6	6
Inventories - Raw Materials, Total	178M	268M	245M	161M	148M
Inventories - Work In Process, Total	101M	208M	89.27M	49.26M	59.24M
Inventories - Finished Goods, Total	1.39M	132M	100M	178M	88.05M
Land - (BS)	66.37M	76.38M	76.38M	63.52M	63.52M
Buildings, Total	127M	178M	196M	293M	286M
Machinery, Total	891M	1.03B	1.08B	900M	853M
Full Time Employees	799	-	949	983	987
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2020	2022	2023	2024	2025
Net Income	-	99.52M	113M	159M	126M
Depreciation & Amortization - CF	-	89.63M	94.63M	148M	105M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	6.61M	13.03M	15.58M
Depreciation & Amortization, Total	-	89.63M	101M	161M	121M
Amortization of Deferred Charges, Total - (CF)	-	-	516K	355K	95K
Other Operating Activities, Total	-	59.37M	53.43M	-25.05M	-13.84M
Change in Other Net Operating Assets	-	-235M	10.46M	-19.39M	29.37M
Cash from Operations	-	13.35M	278M	276M	263M
Capital Expenditure	-	-195M	-167M	-229M	-91.82M
Cash Acquisitions	-	-	-294M	-	-
Divestitures	-	477K	-	333M	-
Sale (Purchase) of Intangible assets	-	-16.19M	-88.27M	-29.26M	-17.89M
Investment in Marketable and Equity Securities, Total	-	-	21.26M	97K	6.77M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-355K	-2.02M	4.41M	-875K
Other Investing Activities, Total	-	-	-	-	1K
Cash from Investing	-	-211M	-529M	79.32M	-104M
Long-Term Debt Issued, Total	-	-	452M	-	-
Total Debt Issued	-	-	452M	-	-
Long-Term Debt Repaid, Total	-	-235M	-	-31.64M	-196M
Total Debt Repaid	-	-235M	-	-31.64M	-196M
Issuance of Common Stock	-	293M	-	1.63M	16.12M
Repurchase of Common Stock	-	-6.61M	-	-9.93M	-4.45M
Common Dividends Paid	-	-79.18M	-79.19M	-97.38M	-98.07M
Common & Preferred Stock Dividends Paid	-	-79.18M	-79.19M	-97.38M	-98.07M
Other Financing Activities, Total	-	-1K	-	1K	-
Cash from Financing	-	-27.55M	373M	-137M	-282M
Foreign Exchange Rate Adjustments	-	5.37M	-2.92M	1.3M	-8M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1K
Net Change in Cash	-	-220M	119M	219M	-131M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Levered Free Cash Flow	-	-202M	18.65M	58.03M	212M
Unlevered Free Cash Flow	-	-183M	56.04M	87.98M	221M
Change In Net Working Capital	43.58M	169M	-73.61M	-21.85M	-95.97M
Net Debt Issued / Repaid	-	-235M	452M	-31.64M	-196M

Fiscal Period: December	2020	2022	2023	2024	2025
Profitability
Return on Assets	3.8	3.8	3.95	4.56	3.21
Return on Total Capital	5.17	5.16	5.24	5.58	3.88
Return On Equity %	6.85	8.62	8.21	10.66	8.12
Return on Common Equity	6.87	8.64	8.24	10.7	8.1
Margin Analysis
Gross Profit Margin %	40.56	31.58	36.72	43.79	40.68
SG&A Margin	24.14	19.77	21.96	26.43	24.43
EBITDA Margin %	13.04	11.22	13.02	19.93	14.97
EBITA Margin %	8.72	7.37	9.15	12.92	9.76
EBIT Margin %	8.72	7.37	8.88	12.3	8.99
Income From Continuing Operations Margin %	4.85	4.28	4.61	7.5	6.27
Net Income Margin %	4.84	4.27	4.62	7.5	6.24
Net Avail. For Common Margin %	4.84	4.27	4.62	7.5	6.24
Normalized Net Income Margin	4.1	3.8	4.02	6.27	5.53
Levered Free Cash Flow Margin	-	-8.67	0.76	2.74	10.5
Unlevered Free Cash Flow Margin	-	-7.87	2.29	4.16	10.93
Asset Turnover
Asset Turnover	0.7	0.82	0.71	0.59	0.57
Fixed Assets Turnover	3.11	4.08	3.24	2.61	2.28
Receivables Turnover (Average Receivables)	4.75	5.34	5.08	6.16	7.46
Inventory Turnover (Average Inventory)	3.12	3.56	2.99	3.43	3.59
Short Term Liquidity
Current Ratio	0.9	0.98	0.95	1.39	1.12
Quick Ratio	0.56	0.53	0.65	0.99	0.77
Operating Cash Flow to Current Liabilities	-	0.01	0.2	0.29	0.32
Days Sales Outstanding (Average Receivables)	76.98	68.32	71.9	59.38	48.94
Days Outstanding Inventory (Average Inventory)	117.18	102.55	122.1	106.82	101.58
Average Days Payable Outstanding	161.8	108.38	160.56	111.89	116
Cash Conversion Cycle (Average Days)	32.36	62.49	33.43	54.31	34.52
Long Term Solvency
Total Debt/Equity	52.2	70.32	105.33	94.58	80.38
Total Debt / Total Capital	34.3	41.29	51.3	48.61	44.56
LT Debt/Equity	15.38	29.58	59.99	70.85	59.97
Long-Term Debt / Total Capital	10.1	17.36	29.21	36.41	33.25
Total Liabilities / Total Assets	50.75	57.48	62.16	57.64	54.07
EBIT / Interest Expense	4.05	5.74	3.62	5.43	13.14
EBITDA / Interest Expense	6.06	8.74	5.32	8.8	21.87
(EBITDA - Capex) / Interest Expense	6.06	2.21	2.53	4.02	15.24
Total Debt / EBITDA	2.82	3.59	4.67	3.52	4.13
Net Debt / EBITDA	2.36	3.12	3.85	2.36	3.27
Total Debt / (EBITDA - Capex)	2.82	14.21	9.81	7.7	5.92
Net Debt / (EBITDA - Capex)	2.36	12.34	8.08	5.17	4.69
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-4.47	38.23	4.86	-2.31	-4.48
Gross Profit, 1 Yr. Growth %	-0.87	25.45	21.92	15.25	-11.26
EBITDA, 1 Yr. Growth %	0.16	27.25	21.76	56.35	-19.57
EBITA, 1 Yr. Growth %	-6.14	44.16	30.22	47.56	-24.19
EBIT, 1 Yr. Growth %	0.24	44.16	26.37	40.53	-30.17
Earnings From Cont. Operations, 1 Yr. Growth %	-17.45	65.86	12.99	70.67	-20.09
Net Income, 1 Yr. Growth %	-17.36	66.05	13.24	70.67	-20.86
Normalized Net Income, 1 Yr. Growth %	-1.09	71.14	11.07	59.96	-16.21
Diluted EPS Before Extra, 1 Yr. Growth %	-27.1	-	13.29	70.65	-20.86
Accounts Receivable, 1 Yr. Growth %	-5.75	18.49	3.48	-29.21	-9.52
Inventory, 1 Yr. Growth %	6.12	106.07	-28.5	19.98	-23.75
Net Property, Plant and Equip., 1 Yr. Growth %	8.06	33.35	30.74	12.9	6.52
Total Assets, 1 Yr. Growth %	-0.6	24.57	19.01	7.98	-8.64
Tangible Book Value, 1 Yr. Growth %	-2.33	210.82	-45.89	34.36	2.87
Common Equity, 1 Yr. Growth %	-0.86	36.31	5.88	11.36	-0.73
Cash From Operations, 1 Yr. Growth %	-	-94.27	1.99K	-0.87	-4.78
Capital Expenditures, 1 Yr. Growth %	-	145.44	-14.69	-4.02	-59.91
Levered Free Cash Flow, 1 Yr. Growth %	-	-22.83	-109.23	149.09	1.62K
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-23.36	-130.58	56.86	421.95
Dividend Per Share, 1 Yr. Growth %	0	-	23.53	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.02	29.15	20.39	-4.67	-3.4
Gross Profit, 2 Yr. CAGR %	2.38	13.97	23.67	12.25	1.13
EBITDA, 2 Yr. CAGR %	0.62	19.77	24.47	27.06	5.95
EBITA, 2 Yr. CAGR %	-0.59	18.73	37.01	26.24	3.22
EBIT, 2 Yr. CAGR %	-0.59	18.73	34.97	23.19	-0.94
Earnings From Cont. Operations, 2 Yr. CAGR %	-1.84	21.33	36.9	26.15	16.78
Net Income, 2 Yr. CAGR %	-1.79	21.32	37.13	26.26	16.5
Normalized Net Income, 2 Yr. CAGR %	1.05	24.32	37.87	22.57	16.1
Diluted EPS Before Extra, 2 Yr. CAGR %	-1.97	12.8	-	26.27	16.49
Accounts Receivable, 2 Yr. CAGR %	-2.23	28.81	10.73	-22.41	-19.97
Inventory, 2 Yr. CAGR %	-0.21	48.44	21.38	-20.73	-4.35
Net Property, Plant and Equip., 2 Yr. CAGR %	4.22	18.44	32.04	14.72	9.66
Total Assets, 2 Yr. CAGR %	-1.52	25.26	21.76	8.68	-0.68
Tangible Book Value, 2 Yr. CAGR %	-2.73	2.79	29.69	7.07	17.57
Common Equity, 2 Yr. CAGR %	-0.83	16.45	20.14	8.47	5.14
Cash From Operations, 2 Yr. CAGR %	-	-	9.33	354.63	-2.84
Capital Expenditures, 2 Yr. CAGR %	-	-	44.7	8.31	-37.97
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-73.31	-46.39	201.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-51.58	-30.71	98.46
Dividend Per Share, 2 Yr. CAGR %	6.46	0	-	11.14	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.24	16.8	20.49	7.9	-4.6
Gross Profit, 3 Yr. CAGR %	5.21	8.79	16.56	16.48	3.79
EBITDA, 3 Yr. CAGR %	3.39	12.84	20.43	27.12	5.04
EBITA, 3 Yr. CAGR %	4.44	9.79	22.44	31.95	4.78
EBIT, 3 Yr. CAGR %	4.44	12.22	21.23	29.82	1.95
Earnings From Cont. Operations, 3 Yr. CAGR %	10.73	6.71	18.48	38.2	8.34
Net Income, 3 Yr. CAGR %	10.91	6.74	18.56	38.33	8.23
Normalized Net Income, 3 Yr. CAGR %	7.62	15.19	19.73	36.99	8.18
Diluted EPS Before Extra, 3 Yr. CAGR %	5.02	-2.47	12.97	-	8.24
Accounts Receivable, 3 Yr. CAGR %	3.68	16.07	19.74	-10.65	-18.33
Inventory, 3 Yr. CAGR %	3.36	32.73	16.36	8.99	-21.75
Net Property, Plant and Equip., 3 Yr. CAGR %	6.82	14.87	22.4	20.62	11.91
Total Assets, 3 Yr. CAGR %	3.51	15.96	23.14	13.74	2.57
Tangible Book Value, 3 Yr. CAGR %	20.15	1.05	-17	52.74	5.65
Common Equity, 3 Yr. CAGR %	7.9	10.37	12.82	17.05	5.31
Cash From Operations, 3 Yr. CAGR %	-	-55.45	-	5.82	169.99
Capital Expenditures, 3 Yr. CAGR %	-	50.91	-	42.27	-22.24
Levered Free Cash Flow, 3 Yr. CAGR %	-	42.98	-	-39.47	1.68
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	28.22	-	-28.34	6.43
Dividend Per Share, 3 Yr. CAGR %	4.26	0	7.3	-	7.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.5	12.91	12.29	7.69	7.69
Gross Profit, 5 Yr. CAGR %	3.64	8.63	10.67	10.16	7.75
EBITDA, 5 Yr. CAGR %	5.99	9.65	12.08	18.33	10.7
EBITA, 5 Yr. CAGR %	7.07	9.94	12.65	16.09	10.16
EBIT, 5 Yr. CAGR %	7.07	9.94	11.98	16.48	8.36
Earnings From Cont. Operations, 5 Yr. CAGR %	-6.92	14.86	9.89	14.1	13.36
Net Income, 5 Yr. CAGR %	-6.82	14.96	9.96	14.16	13.28
Normalized Net Income, 5 Yr. CAGR %	4.13	14.01	11.88	18.09	14.37
Diluted EPS Before Extra, 5 Yr. CAGR %	-11.41	8.07	6.73	8.14	10.04
Accounts Receivable, 5 Yr. CAGR %	5.15	13.08	10.42	-1.2	-2
Inventory, 5 Yr. CAGR %	5.18	19.46	9.42	8	1.09
Net Property, Plant and Equip., 5 Yr. CAGR %	8.82	11.32	14.78	14.81	14.48
Total Assets, 5 Yr. CAGR %	3.39	11.72	12.61	13	11.11
Tangible Book Value, 5 Yr. CAGR %	14.92	12.88	-11.56	3.42	4.5
Common Equity, 5 Yr. CAGR %	7.27	11.24	7.15	9.6	9.63
Cash From Operations, 5 Yr. CAGR %	-	-31.44	17.28	12.81	-
Capital Expenditures, 5 Yr. CAGR %	-	6.92	27.88	32.16	-
Levered Free Cash Flow, 5 Yr. CAGR %	-	35.47	-28.45	-3.43	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	48.01	-11.19	0.24	-
Dividend Per Share, 5 Yr. CAGR %	2.53	2.53	6.96	4.32	4.32