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 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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
Net Income	636.09	287.44	237.11	20.23	-290.01	-799.12
Depreciation & Amortization	649.25	698.87	663.41	593.61	596.04	683.92
Other Operating Activities	-368.5	1,223	-598.9	-348.89	-348.89	49.14
Operating Cash Flow	916.84	2,209	301.61	264.95	-42.86	-66.06
Operating Cash Flow Growth	-58.58%	632.35%	13.84%	-	-	-
Capital Expenditures	-80.75	-110.26	-116.16	-127.43	-96.19	-99.27
Investment in Securities	-2,006	-941.52	-410.11	-	-	-
Other Investing Activities	135.49	46.94	12.57	4.74	4.66	6
Investing Cash Flow	-1,951	-1,005	-513.69	-122.69	-91.53	-93.27
Common Dividends Paid	-	-	-	-	-1.51	-
Other Financing Activities	-	-	-	-	-	-0.05
Financing Cash Flow	-	-	-	-	-1.51	-0.05
Foreign Exchange Rate Adjustments	19.26	17.19	-11.82	16.46	22.72	-25.42
Net Cash Flow	-1,015	1,221	-223.9	158.72	-113.19	-184.8
Free Cash Flow	836.09	2,099	185.45	137.52	-139.05	-165.33
Free Cash Flow Growth	-60.56%	1031.60%	34.86%	-	-	-
Free Cash Flow Margin	96.98%	255.85%	25.63%	23.10%	-24.70%	-61.02%
Free Cash Flow Per Share	23.87	59.91	5.29	3.93	-3.97	-4.72
Levered Free Cash Flow	291.83	2,190	702.24	95.08	337.81	-1,011
Unlevered Free Cash Flow	291.83	2,190	702.24	95.09	337.82	-1,011

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