Papirfabrikken Invest Balance Sheet

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

Millions DKK. 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	47.98	164.67	69.14	50.8	2.8
Short-Term Investments	-	-	0.04	0.04	0.04
Cash & Short-Term Investments	47.98	164.67	69.18	50.84	2.85
Cash Growth	-70.86%	138.02%	36.08%	1686.89%	-0.80%
Accounts Receivable	1.25	1.96	35.45	32.91	8.16
Other Receivables	27.84	58.46	3.47	4.05	6.65
Receivables	29.09	60.42	38.92	36.97	14.81
Inventory	14.02	0.33	0.38	0.32	0.27
Total Current Assets	91.09	225.42	108.48	88.12	17.93
Property, Plant & Equipment	645.01	591.51	615.82	609.67	590.47
Long-Term Investments	37.41	40.51	-	-	-
Other Intangible Assets	-	-	7.12	7.99	3.86
Other Long-Term Assets	-	0.47	0.01	0.01	0.04
Total Assets	773.51	857.91	731.43	705.79	612.3
Accounts Payable	3.71	3.18	5.51	7.92	3.04
Accrued Expenses	4.33	7.96	11.85	11.49	9.86
Short-Term Debt	2.01	9.09	0.45	-	29.81
Current Portion of Long-Term Debt	6.74	3.97	3.29	4.4	3.41
Current Portion of Leases	-	-	0.16	0.16	0.77
Current Income Taxes Payable	-	-	0.32	1.42	-
Current Unearned Revenue	1.05	0.36	5.79	6.06	5.95
Total Current Liabilities	17.84	24.56	27.37	31.43	52.84
Long-Term Debt	303.35	310.06	301.17	303.26	277.86
Long-Term Leases	-	-	4.25	4.41	4.98
Long-Term Unearned Revenue	-	-	23.72	26.89	30.31
Long-Term Deferred Tax Liabilities	33.14	27.22	23.46	21.44	8.87
Other Long-Term Liabilities	3.2	3.43	2.85	2.56	4.55
Total Liabilities	357.53	365.27	382.81	389.99	379.41
Common Stock	99.02	99.02	99.02	99.02	99.02
Additional Paid-In Capital	77.02	77.02	77.02	77.02	77.02
Retained Earnings	239.95	316.61	172.58	139.76	56.85
Shareholders' Equity	415.98	492.64	348.62	315.79	232.88
Total Liabilities & Equity	773.51	857.91	731.43	705.79	612.3
Total Debt	312.1	323.12	309.32	312.22	316.84
Net Cash (Debt)	-264.12	-158.45	-240.14	-261.38	-313.99
Net Cash Per Share	-26.67	-16.00	-24.25	-26.40	-31.71
Filing Date Shares Outstanding	9.9	9.9	9.9	9.9	9.9
Total Common Shares Outstanding	9.9	9.9	9.9	9.9	9.9
Working Capital	73.26	200.86	81.12	56.69	-34.91
Book Value Per Share	42.01	49.75	35.21	31.89	23.52
Tangible Book Value	415.98	492.64	341.5	307.81	229.03
Tangible Book Value Per Share	42.01	49.75	34.49	31.09	23.13
Land	88.01	81.5	79.51	76.97	76.97
Machinery	14.02	5.22	29.45	30.04	25.49
Leasehold Improvements	-	1.94	89.81	89.01	86.05

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