A2A S.p.A. Balance Sheet

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

Millions EUR. 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
Cash & Equivalents	1,823	1,879	1,549	1,629	2,584	964
Short-Term Investments	11	23	-	-	-	-
Accounts Receivable	5,118	4,454	3,643	3,540	4,680	3,291
Other Receivables	44	520	420	387	439	301
Inventory	188	311	318	319	536	204
Other Current Assets	2,579	669	1,358	1,951	2,899	3,989
Total Current Assets	9,763	7,856	7,288	7,826	11,138	8,749
Property, Plant & Equipment	8,181	8,135	7,583	6,643	6,162	5,588
Goodwill	1,509	1,509	1,512	846	844	746
Other Intangible Assets	3,112	3,103	2,937	2,784	2,671	2,379
Long-Term Investments	56	56	27	56	45	33
Long-Term Deferred Tax Assets	453	439	420	464	363	424
Other Long-Term Assets	304	285	216	179	144	89
Total Assets	23,378	21,383	19,983	18,798	21,367	18,008
Accounts Payable	4,739	4,665	3,639	4,099	5,481	2,886
Accrued Expenses	-	346	331	274	261	264
Current Portion of Long-Term Debt	834	1,004	913	740	991	723
Current Unearned Revenue	-	26	43	6	43	8
Current Portion of Leases	-	40	42	35	31	23
Current Income Taxes Payable	59	37	120	70	134	21
Other Current Liabilities	3,383	1,396	1,138	1,796	2,745	4,238
Total Current Liabilities	9,015	7,514	6,226	7,020	9,686	8,163
Long-Term Debt	6,512	6,025	6,184	5,434	5,735	4,233
Long-Term Leases	-	191	133	142	132	89
Pension & Post-Retirement Benefits	193	196	214	237	248	294
Long-Term Deferred Tax Liabilities	28	29	-	-	-	-
Other Long-Term Liabilities	946	938	1,134	1,163	1,099	926
Total Liabilities	16,694	14,893	13,891	13,996	16,900	13,705
Common Stock	1,629	1,629	1,629	1,629	1,629	1,629
Retained Earnings	216	750	864	659	401	504
Treasury Stock	-6	-10	-	-	-	-
Comprehensive Income & Other	4,270	3,548	3,041	1,952	1,869	1,627
Total Common Equity	6,109	5,917	5,534	4,240	3,899	3,760
Minority Interest	575	573	558	562	568	543
Shareholders' Equity	6,684	6,490	6,092	4,802	4,467	4,303
Total Liabilities & Equity	23,378	21,383	19,983	18,798	21,367	18,008
Total Debt	7,346	7,260	7,272	6,351	6,889	5,068
Net Cash (Debt)	-5,512	-5,358	-5,723	-4,722	-4,305	-4,104
Net Cash Per Share	-1.76	-1.71	-1.83	-1.51	-1.37	-1.34
Filing Date Shares Outstanding	3,129	3,129	3,133	3,133	3,133	3,133
Total Common Shares Outstanding	3,129	3,129	3,133	3,133	3,133	3,133
Working Capital	748	342	1,062	806	1,452	586
Book Value Per Share	1.72	1.65	1.53	1.35	1.24	1.20
Tangible Book Value	1,488	1,305	1,085	610	384	635
Tangible Book Value Per Share	0.24	0.18	0.11	0.19	0.12	0.20
Land	-	177	162	153	153	141
Construction In Progress	-	1,326	1,006	689	800	544

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