Ratti Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	10.54	14.31	17.94	35.41	42.8
Cash & Short-Term Investments	10.54	14.31	17.94	35.41	42.8
Cash Growth	-26.37%	-20.22%	-49.35%	-17.26%	-22.31%
Accounts Receivable	9.37	11.53	12.38	15.68	16.72
Other Receivables	1.91	1.78	3.13	3.32	2.37
Receivables	11.29	13.31	15.51	19	19.09
Inventory	26.48	31.73	33.04	32.87	23.52
Other Current Assets	0.07	0.21	0.43	0.83	0.08
Total Current Assets	48.37	59.55	66.92	88.11	85.49
Property, Plant & Equipment	34.14	37.03	39.82	41.43	41.22
Long-Term Investments	1.09	1.26	0.74	0.88	0.85
Other Intangible Assets	9.31	9.92	6.96	5.3	4.03
Long-Term Deferred Tax Assets	4.56	4.22	4.33	3.5	3.56
Other Long-Term Assets	0.67	0.74	0.98	1.1	0.88
Total Assets	98.14	112.72	119.74	140.32	136.03
Accounts Payable	16.89	18.24	20.43	21.98	17.87
Accrued Expenses	4.89	4.97	5.25	5.66	4.79
Short-Term Debt	0.15	0.49	0.54	0.58	0.01
Current Portion of Long-Term Debt	10.7	8.38	9.06	19.08	12.11
Current Portion of Leases	0.42	0.52	0.45	0.45	0.36
Current Income Taxes Payable	0.01	0.1	0.05	0	0.04
Other Current Liabilities	2.27	1.7	1.33	2.05	1.7
Total Current Liabilities	35.33	34.39	37.11	49.79	36.87
Long-Term Debt	8.66	15.36	18.21	20.3	29.38
Long-Term Leases	0.4	0.77	0.99	1.32	1.44
Pension & Post-Retirement Benefits	2.34	2.66	3.07	3.29	3.88
Long-Term Deferred Tax Liabilities	0.33	0.35	0.48	0.59	0.35
Other Long-Term Liabilities	1.35	1.15	1.32	1.57	1.38
Total Liabilities	48.4	54.68	61.18	76.87	73.3
Common Stock	11.12	11.12	11.12	11.12	11.12
Additional Paid-In Capital	16.83	16.83	16.83	16.83	16.83
Retained Earnings	20.62	28.83	29.24	33.85	33.99
Comprehensive Income & Other	1.06	1.16	1.28	1.54	0.63
Total Common Equity	49.63	57.94	58.47	63.33	62.57
Minority Interest	0.12	0.11	0.09	0.13	0.16
Shareholders' Equity	49.74	58.05	58.56	63.46	62.73
Total Liabilities & Equity	98.14	112.72	119.74	140.32	136.03
Total Debt	20.32	25.51	29.24	41.73	43.3
Net Cash (Debt)	-9.79	-11.2	-11.31	-6.32	-0.5
Net Cash Per Share	-0.36	-0.41	-0.41	-0.23	-0.02
Filing Date Shares Outstanding	27.35	27.35	27.35	27.35	27.35
Total Common Shares Outstanding	27.35	27.35	27.35	27.35	27.35
Working Capital	13.05	25.16	29.81	38.32	48.62
Book Value Per Share	1.81	2.12	2.14	2.32	2.29
Tangible Book Value	40.32	48.01	51.51	58.03	58.53
Tangible Book Value Per Share	1.47	1.76	1.88	2.12	2.14
Land	28.54	28.5	28.33	27.63	27.27
Machinery	92.49	91.99	88.46	87.81	84.04
Construction In Progress	0.8	0.26	2.46	2.7	3.31

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