BELEX:AERO Cash Flow Statement

Financials in millions RSD. Fiscal year is January - December.

Millions RSD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Net Income	361.48	340.14	287.44	237.11	20.23	-290.01
Depreciation & Amortization	773.3	770.2	698.87	663.41	593.61	596.04
Other Operating Activities	-691.29	-193.24	1,223	-598.9	-348.89	-348.89
Operating Cash Flow	443.48	917.1	2,209	301.61	264.95	-42.86
Operating Cash Flow Growth	-83.22%	-58.48%	632.35%	13.84%	-	-
Capital Expenditures	-42.36	-31.18	-110.26	-116.16	-127.43	-96.19
Investment in Securities	-946.9	-2,064	-941.52	-410.11	-	-
Other Investing Activities	150.16	136.58	46.94	12.57	4.74	4.66
Investing Cash Flow	-839.09	-1,959	-1,005	-513.69	-122.69	-91.53
Common Dividends Paid	-	-	-	-	-	-1.51
Financing Cash Flow	3,752	-	-	-	-	-1.51
Foreign Exchange Rate Adjustments	3.67	-0.89	17.19	-11.82	16.46	22.72
Net Cash Flow	3,360	-1,043	1,221	-223.9	158.72	-113.19
Free Cash Flow	401.12	885.92	2,099	185.45	137.52	-139.05
Free Cash Flow Growth	-84.26%	-57.78%	1031.60%	34.86%	-	-
Free Cash Flow Margin	41.99%	95.63%	255.85%	25.63%	23.10%	-24.70%
Free Cash Flow Per Share	11.23	25.33	60.01	5.29	3.93	-3.97
Levered Free Cash Flow	167.38	314.86	2,190	702.24	95.08	337.81
Unlevered Free Cash Flow	167.38	314.86	2,190	702.24	95.09	337.82

Source: S&P Global Market Intelligence. Standard template. Financial Sources.