Terna 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	2,016	1,833	2,312	1,378	2,155	1,567
Short-Term Investments	1,289	731.4	426.5	362.2	246.8	958.5
Accounts Receivable	1,060	3,191	3,195	2,155	2,358	2,777
Other Receivables	-	237.3	137.8	130.6	166.8	60.1
Inventory	-	127.7	108.2	75	83	69.9
Prepaid Expenses	-	31.3	26.7	24	22.7	16.8
Other Current Assets	14	32.8	48.7	118	88.4	408.6
Total Current Assets	4,379	6,184	6,254	4,243	5,121	5,858
Property, Plant & Equipment	21,882	21,665	19,237	17,597	16,201	15,317
Goodwill	-	349.1	250.9	252.3	251.5	256.5
Other Intangible Assets	1,296	943.6	731.3	614.9	524.3	400
Long-Term Investments	-	105.4	90.4	200.1	193.6	99.5
Long-Term Loans Receivable	-	9.4	10	10.9	11	10.4
Long-Term Deferred Tax Assets	-	286.4	228.4	168.7	121	146.6
Other Long-Term Assets	553.9	440	384.3	307	379.5	271.5
Total Assets	28,111	29,983	27,187	23,393	22,803	22,359
Accounts Payable	1,751	3,887	3,443	2,791	3,642	3,247
Accrued Expenses	-	145	159.6	131	183.2	118
Short-Term Debt	890.2	860.7	1,767	1,314	487.6	1,988
Current Portion of Long-Term Debt	696.8	756.7	681	1,386	1,911	1,645
Current Unearned Revenue	-	675.9	413.7	340.7	197.4	120.3
Current Portion of Leases	-	19.9	-	-	-	-
Current Income Taxes Payable	29.3	45.5	112.3	-	43.8	28.1
Other Current Liabilities	1,947	342.7	286.6	364.1	344.3	501.8
Total Current Liabilities	5,314	6,733	6,864	6,327	6,809	7,648
Long-Term Debt	13,888	13,897	11,399	9,508	8,596	8,882
Long-Term Leases	-	42.5	58.8	65.6	67.7	36.9
Long-Term Unearned Revenue	-	617.7	-	-	-	-
Pension & Post-Retirement Benefits	-	90	88	83.4	75.3	82.8
Other Long-Term Liabilities	-13	790.4	1,233	1,067	1,085	997
Total Liabilities	19,189	22,170	19,643	17,050	16,634	17,646
Common Stock	8,902	442.2	442.2	442.2	442.2	442.2
Additional Paid-In Capital	-	20	20	20	20	20
Retained Earnings	-	4,766	4,501	4,134	3,913	3,645
Treasury Stock	-	-34.3	-31.4	-29.8	-29.5	-19.5
Comprehensive Income & Other	-	2,598	2,593	1,758	1,796	594.5
Total Common Equity	8,902	7,791	7,524	6,324	6,142	4,682
Minority Interest	20.2	21.4	19.8	18.9	27.1	31.1
Shareholders' Equity	8,922	7,813	7,544	6,343	6,169	4,713
Total Liabilities & Equity	28,111	29,983	27,187	23,393	22,803	22,359
Total Debt	15,475	15,576	13,906	12,274	11,062	12,552
Net Cash (Debt)	-12,170	-13,012	-11,168	-10,533	-8,660	-10,026
Net Cash Per Share	-	-6.49	-5.50	-5.09	-4.31	-4.99
Filing Date Shares Outstanding	-	2,006	2,006	2,006	2,006	2,007
Total Common Shares Outstanding	-	2,006	2,006	2,006	2,006	2,007
Working Capital	-934.8	-549.2	-609.7	-2,084	-1,688	-1,790
Book Value Per Share	-	2.97	2.84	2.66	2.57	2.33
Tangible Book Value	7,606	6,499	6,542	5,457	5,366	4,025
Tangible Book Value Per Share	-	2.32	2.35	2.23	2.18	2.01
Land	-	251.2	242.8	232.5	217.7	211.7
Buildings	-	2,907	2,715	2,588	2,403	2,288
Machinery	-	25,419	23,827	22,643	21,212	20,375
Construction In Progress	-	5,167	3,755	2,885	2,581	2,193

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