FNM 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	371.83	413.52	499.45	395.25	236.93	351.83
Short-Term Investments	4.66	1.03	0.1	0.23	-	6.31
Trading Asset Securities	-	-	0.03	-	6.77	7
Cash & Short-Term Investments	376.49	414.55	499.57	395.48	243.7	365.15
Cash Growth	-22.48%	-17.02%	26.32%	62.28%	-33.26%	44.13%
Accounts Receivable	247.74	221.87	167.19	182.13	153.66	133.6
Other Receivables	149.97	243.4	296.8	235.87	286.14	34.3
Receivables	397.7	468.66	467.59	419.95	440.28	306.29
Inventory	20.38	20.36	15.72	13.12	12.11	9.5
Other Current Assets	103.55	60.96	81.24	112.41	135.81	90.21
Total Current Assets	898.13	964.52	1,064	940.95	831.89	771.15
Property, Plant & Equipment	654.21	632.7	589.07	500.79	500.73	475.35
Long-Term Investments	287.22	208.82	190.63	174.74	172.83	159.65
Goodwill	29.21	29.21	39.42	-	-	3.44
Other Intangible Assets	222.75	242.41	319.04	307.7	340.04	269.57
Long-Term Accounts Receivable	73.85	70.58	38.25	77.9	77.21	145.09
Long-Term Deferred Tax Assets	36.96	36.85	34.16	36.65	32.66	35.77
Other Long-Term Assets	22.28	8.4	7.82	7.56	7.88	7.35
Total Assets	2,225	2,281	2,351	2,112	2,020	1,920
Accounts Payable	354.61	414.14	543.8	513.69	470.69	372.33
Accrued Expenses	10.08	39.28	40.32	36.2	36.49	35.19
Short-Term Debt	-	-	-	-	35.56	57.84
Current Portion of Long-Term Debt	934.53	960.66	297.47	142.81	99.11	137.85
Current Portion of Leases	8.34	8.76	6.94	7.96	7.75	6.95
Current Income Taxes Payable	12.61	7.04	0.34	3.54	8.13	0.94
Current Unearned Revenue	-	7.39	7.22	6.3	6.29	5.29
Other Current Liabilities	179.98	127.09	125.72	133.31	101.7	77.16
Total Current Liabilities	1,500	1,564	1,022	843.81	765.7	693.55
Long-Term Debt	106.33	133.16	798.15	773.8	813.9	843.37
Long-Term Leases	20.66	21.6	17.91	12.97	18.03	22.79
Long-Term Deferred Tax Liabilities	1.5	1.68	2.95	-	-	-
Other Long-Term Liabilities	90.23	69.53	99.38	105.74	115.01	131.46
Total Liabilities	1,719	1,790	1,940	1,736	1,713	1,691
Common Stock	230	230	230	230	230	230
Retained Earnings	226.66	212.79	136.66	118.65	45.76	-22.72
Comprehensive Income & Other	10.41	8.77	7.66	6.68	8.18	-0.46
Total Common Equity	467.06	451.56	374.31	355.33	283.93	206.82
Minority Interest	38.68	38.93	36.19	20.83	22.98	21.51
Shareholders' Equity	505.74	490.49	410.5	376.16	306.91	228.33
Total Liabilities & Equity	2,225	2,281	2,351	2,112	2,020	1,920
Total Debt	1,070	1,124	1,120	937.54	974.34	1,069
Net Cash (Debt)	-693.37	-709.63	-620.9	-542.06	-730.65	-703.67
Net Cash Per Share	-1.54	-1.63	-1.43	-1.25	-1.68	-1.62
Filing Date Shares Outstanding	462.3	434.9	434.9	434.9	434.9	434.9
Total Common Shares Outstanding	462.3	434.9	434.9	434.9	434.9	434.9
Working Capital	-602.02	-599.83	42.32	97.15	66.18	77.6
Book Value Per Share	1.01	1.04	0.86	0.82	0.65	0.48
Tangible Book Value	215.1	179.93	15.85	47.63	-56.11	-66.19
Tangible Book Value Per Share	0.47	0.41	0.04	0.11	-0.13	-0.15
Land	-	64.71	64.16	48.39	48.1	52.65
Machinery	-	324.02	292.65	208.84	199.3	208.21
Construction In Progress	-	84.22	61.73	50.42	51.72	41.36