Santierul Naval Orsova Balance Sheet

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

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	7.31	10.96	11.94	8.85	14.37	30.83
Short-Term Investments	15.56	13.51	6.5	3.49	3.09	3.86
Cash & Short-Term Investments	22.87	24.47	18.44	12.34	17.45	34.68
Cash Growth	-31.75%	32.70%	49.46%	-29.31%	-49.68%	68.23%
Accounts Receivable	5.62	1.52	11.43	1.45	19.65	0.37
Other Receivables	-	0.88	0.19	0.31	0.23	0.38
Receivables	5.62	2.4	11.62	1.76	19.88	0.75
Inventory	42.59	36.48	28.97	50.81	22.4	34.61
Other Current Assets	0.4	1.93	0.62	0.39	0.61	0.59
Total Current Assets	71.48	65.27	59.65	65.3	60.35	70.63
Property, Plant & Equipment	44.67	46.99	39.36	39.87	42.09	37.42
Other Intangible Assets	0.02	0.04	0.08	0.03	0.02	0.01
Long-Term Accounts Receivable	0.22	0.16	0.01	0.01	0.54	0.42
Long-Term Deferred Tax Assets	0.02	0.17	0.1	0.12	0.08	0.08
Other Long-Term Assets	-	-	0.61	0.6	0.52	0.51
Total Assets	116.4	112.64	99.81	105.92	103.61	109.06
Accounts Payable	2.38	1.47	2.29	2.39	2.53	4.63
Accrued Expenses	1.64	2.57	1.87	1.83	1.84	1.7
Current Portion of Leases	-	0.62	-	0.63	0.57	-
Current Unearned Revenue	0.01	0.32	0	0	3.41	0
Other Current Liabilities	19.81	12.49	10.38	18.49	1.1	1.31
Total Current Liabilities	23.84	17.48	14.54	23.35	9.44	7.64
Long-Term Leases	2.24	2.74	-	0.51	1.02	-
Long-Term Deferred Tax Liabilities	4.26	4.51	3.78	4.03	4.35	4.04
Other Long-Term Liabilities	0.25	0.17	0.06	0.05	0.02	-
Total Liabilities	30.58	24.89	18.38	27.93	14.84	11.68
Common Stock	28.56	28.56	28.56	28.56	28.56	28.56
Additional Paid-In Capital	8.86	8.86	8.86	8.86	8.86	8.86
Retained Earnings	5.09	7.38	0.61	-3.32	0.79	12.21
Comprehensive Income & Other	43.31	42.94	43.4	43.89	50.56	47.75
Shareholders' Equity	85.81	87.74	81.43	77.98	88.77	97.37
Total Liabilities & Equity	116.4	112.64	99.81	105.92	103.61	109.06
Total Debt	2.24	3.36	-	1.14	1.59	-
Net Cash (Debt)	20.63	21.11	18.44	11.2	15.86	34.68
Net Cash Growth	-31.58%	14.48%	64.68%	-29.40%	-54.27%	68.23%
Net Cash Per Share	1.82	1.85	1.61	0.98	1.39	3.04
Filing Date Shares Outstanding	11.42	11.42	11.42	11.42	11.42	11.42
Total Common Shares Outstanding	11.42	11.42	11.42	11.42	11.42	11.42
Working Capital	47.64	47.8	45.11	41.95	50.91	62.98
Book Value Per Share	7.51	7.68	7.13	6.83	7.77	8.52
Tangible Book Value	85.8	87.7	81.35	77.96	88.75	97.37
Tangible Book Value Per Share	7.51	7.68	7.12	6.82	7.77	8.52
Land	23.55	23.09	23.08	1.2	1.2	1.2
Buildings	-	-	-	21.88	20.06	20.13
Machinery	59.4	58.39	62.15	58.8	56.54	55.86
Construction In Progress	3.21	3.08	1.4	1.22	3.56	2.79

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.