ARS.RO · BVB
Aerostar: financial statements
Financially weak · see the checkFigures in RON, fiscal years
Revenue and net income
Operating and free cash flow
Margins
Returns
Income statement
| RON | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|---|---|
| Revenue | 295M RON | 376M RON | 467M RON | 506M RON | 584M RON | 620M RON | +6% |
| Operating income | 38.3M RON | 63.8M RON | 83.4M RON | 79.8M RON | 87.2M RON | 95.7M RON | +10% |
| EBITDA | 63.4M RON | 89.6M RON | 107M RON | 106M RON | 114M RON | 125M RON | +9% |
| Interest expense | 6.2M RON | 3.4M RON | 9.0M RON | 7.7M RON | 7.3M RON | 11.6M RON | +58% |
| Profit before tax | 42.1M RON | 69.6M RON | 99.7M RON | 97.0M RON | 105M RON | 109M RON | +4% |
| Income tax | 3.6M RON | 9.7M RON | 9.4M RON | 3.9M RON | 9.1M RON | 10.5M RON | +15% |
| Net income | 38.4M RON | 59.9M RON | 90.3M RON | 93.0M RON | 95.7M RON | 98.0M RON | +2% |
Cash flow
| RON | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 56.2M RON | 91.6M RON | 63.4M RON | 33.7M RON | 38.3M RON | 80.4M RON | +110% |
| Capital expenditure | 46.3M RON | 7.2M RON | 31.3M RON | 22.8M RON | 27.0M RON | 13.5M RON | -50% |
| Free cash flow | 10.0M RON | 84.3M RON | 32.2M RON | 10.9M RON | 11.4M RON | 67.0M RON | +489% |
| Depreciation & amortization | 25.0M RON | 25.8M RON | 24.1M RON | 25.9M RON | 27.1M RON | 29.4M RON | +9% |
Balance sheet
| RON | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|---|---|
| Cash | 203M RON | 274M RON | 246M RON | 246M RON | 260M RON | 313M RON | +20% |
| Inventory | 96.9M RON | 98.8M RON | 131M RON | 161M RON | 206M RON | 210M RON | +2% |
| Current assets | 350M RON | 444M RON | 461M RON | 498M RON | 578M RON | 649M RON | +12% |
| Total assets | 546M RON | 622M RON | 714M RON | 746M RON | 815M RON | 899M RON | +10% |
| Current liabilities | 25.9M RON | 45.0M RON | 65.1M RON | 63.7M RON | 78.1M RON | 75.8M RON | -3% |
| Total liabilities | 166M RON | 201M RON | 220M RON | 194M RON | 194M RON | 189M RON | -3% |
| Shareholders' equity | 380M RON | 421M RON | 494M RON | 552M RON | 620M RON | 710M RON | +14% |
| Net debt | -203M RON | -274M RON | -246M RON | -246M RON | -260M RON | -313M RON | -20% |
Dividend profile
- Paying in a row
- 6+ years
- Raised in a row
- 0 years
- Growth per year
- n/a
- Paid out of profit
- 32.3%
- Paid out of free cash
- 103.7%
Without share prices EdgeScore shows no dividend yield.
Dividends
| RON | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|---|---|
| Dividends paid | 19.0M RON | 17.6M RON | 22.0M RON | 26.4M RON | 30.9M RON | 35.2M RON | +14% |
| Dividends / net income | 49.3% | 29.3% | 24.4% | 28.3% | 32.3% | 35.9% | |
| Dividends / free cash flow | 189.9% | 20.8% | 68.4% | 242.6% | 271.8% | 52.6% |
Ratios
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last year | |
|---|---|---|---|---|---|---|---|
| Operating margin | 13.0% | 17.0% | 17.9% | 15.8% | 14.9% | 15.4% | |
| Net margin | 13.0% | 15.9% | 19.3% | 18.4% | 16.4% | 15.8% | |
| Return on equity | 10.1% | 14.2% | 18.3% | 16.9% | 15.4% | 13.8% | |
| Return on assets | 7.0% | 9.6% | 12.6% | 12.5% | 11.8% | 10.9% | |
| Return on invested capital | 19.7% | 33.8% | 38.3% | 27.7% | 23.9% | 22.9% | |
| Net debt / EBITDA | -3.2x | -3.1x | -2.3x | -2.3x | -2.3x | -2.5x | |
| Interest coverage | 6.2x | 19.0x | 9.3x | 10.4x | 11.9x | 8.3x | |
| Current ratio | 13.52 | 9.85 | 7.09 | 7.82 | 7.41 | 8.56 | |
| Quick ratio | 9.78 | 7.66 | 5.08 | 5.29 | 4.77 | 5.79 |
Data source: Bucharest Stock Exchange (ESEF), company annual reports. Lines a company does not report are left empty. Free cash flow is operating cash flow minus capital expenditure. Ratios use the same formulas as the EdgeScore check.
For information and education only. Not investment advice. Data may contain errors.