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	Jun '26 Jun 30, 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	-	1,833	2,312	1,378	2,155	1,567
Short-Term Investments	-	742.7	447.3	384.1	255.3	980.6
Cash & Short-Term Investments	-	2,575	2,759	1,762	2,410	2,547
Cash Growth	-	-6.65%	56.55%	-26.89%	-5.38%	-23.44%
Accounts Receivable	-	3,076	3,067	2,123	2,358	2,777
Other Receivables	-	121	136.4	4.8	6.8	4.8
Total Trade Receivables	-	3,197	3,204	2,128	2,365	2,782
Inventory	-	127.7	108.2	106.4	83	69.9
Other Current Assets	-	270.3	168.3	213.4	191.9	83.1
Total Current Assets	-	6,170	6,239	4,210	5,050	5,483
Net Property, Plant & Equipment	22,482	21,665	19,237	17,597	16,201	15,317
Other Intangible Assets	1,287	943.6	731.3	614.9	524.3	400
Goodwill	-	349.1	250.9	252.3	251.5	256.5
Long-Term Investments	534.5	539.9	469.8	502.5	568.2	363.9
Other Long-Term Assets	-	315.1	258.7	269.2	207.6	539.6
Total Assets	24,304	29,983	27,187	23,446	22,803	22,359
Accounts Payable	-	3,887	3,443	2,865	3,688	3,276
Accrued Expenses	-	45.5	112.3	-	43.8	28.1
Short-Term Debt	-	720.3	1,657	1,202	444.1	1,947
Current Portion of Long-Term Debt	-	775.8	681	1,385	1,909	1,640
Other Current Liabilities	-	1,305	970.1	927.8	724.4	757
Total Current Liabilities	-	6,733	6,864	6,374	6,800	7,390
Long-Term Debt	-	13,887	11,410	9,409	8,417	8,835
Other Long-Term Liabilities	0.7	1,550	1,368	1,314	1,408	1,164
Total Long-Term Liabilities	0.7	15,437	12,779	10,724	9,825	9,999
Total Liabilities	0.7	22,170	19,642	17,098	16,624	17,388
Common Stock	-	442.2	442.2	442.2	442.2	442.2
Additional Paid-in Capital	-	2,672	2,670	1,837	1,875	683.4
Retained Earnings	-	4,677	4,412	4,046	3,825	3,556
Total Common Shareholders' Equity	8,629	7,791	7,524	6,324	6,142	4,682
Minority Interest	21.5	21.4	19.8	18.9	27.1	31.1
Shareholders' Equity	8,650	7,813	7,544	6,343	6,169	4,713
Total Liabilities & Equity	8,651	29,983	27,187	23,446	22,803	22,359
Total Debt	-	15,383	13,749	11,996	10,770	12,422
Net Cash (Debt)	-	-12,807	-10,990	-10,233	-8,360	-9,875
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-	-6.38	-5.48	-5.10	-4.17	-4.92
Book Value	8,629	7,791	7,524	6,324	6,142	4,682
Book Value Per Share	4.30	3.88	3.75	3.15	3.06	2.33
Tangible Book Value	7,342	6,499	6,542	5,457	5,366	4,025
Tangible Book Value Per Share	3.66	3.24	3.26	2.72	2.67	2.01