DFM:GULFNAV Balance Sheet

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

Millions AED. 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	528.74	5.2	210.06	28.27	24.68	21.89
Trading Asset Securities	-	0.7	100.38	-	-	-
Cash & Short-Term Investments	528.74	5.9	310.44	28.27	24.68	21.89
Cash Growth	128.91%	-98.10%	998.08%	14.57%	12.72%	-22.92%
Accounts Receivable	14.94	14.1	15.55	7.78	8.07	17.3
Other Receivables	9.52	1.32	2.67	4.58	20.17	22.33
Receivables	24.46	15.43	18.22	12.36	28.24	39.62
Inventory	10.43	10.43	9.08	7.97	8.26	6.44
Prepaid Expenses	3.26	1.73	1.55	3.24	1.67	2.04
Other Current Assets	66.33	28.82	3.37	2.2	1.06	0.23
Total Current Assets	633.22	62.3	342.67	54.03	63.9	70.23
Property, Plant & Equipment	516.31	531.87	516.21	587.12	627.08	648.8
Goodwill	143.46	143.46	143.46	143.46	143.46	143.46
Long-Term Deferred Tax Assets	1.56	1.97	-	-	-	-
Total Assets	1,295	739.61	1,002	784.62	834.44	862.49
Accounts Payable	24.25	6.73	19.23	22.09	25.25	27.6
Accrued Expenses	11.8	10.13	12.44	40.32	18.03	14.59
Short-Term Debt	-	-	180.19	0.83	11.67	17.67
Current Portion of Long-Term Debt	38.66	20.9	25.68	109.59	56.72	270.44
Current Portion of Leases	-	-	-	-	0.19	0.49
Current Income Taxes Payable	-	-	2.37	3.81	2.67	7.67
Other Current Liabilities	197.63	247.81	71.37	29.57	79.88	70.53
Total Current Liabilities	272.34	285.58	311.29	206.2	194.41	408.98
Long-Term Debt	107.75	72.71	94.16	157.89	264.02	134.09
Long-Term Leases	-	-	-	-	-	0.13
Pension & Post-Retirement Benefits	1.09	1.01	1.26	1.21	1.18	1.35
Total Liabilities	381.18	359.3	406.7	365.3	459.6	544.54
Common Stock	837.7	837.7	837.7	1,275	1,019	1,019
Additional Paid-In Capital	-	-	35.73	8.45	-	-
Retained Earnings	-15.96	-20.53	-0.44	-659.41	-651.8	-709.91
Treasury Stock	-192.9	-243.05	-96.28	-24.05	-	-
Comprehensive Income & Other	284.53	-193.81	-181.07	-181.07	-2.72	-2.72
Total Common Equity	913.36	380.31	595.64	419.32	364.69	306.57
Minority Interest	-	-	-	-	10.15	11.38
Shareholders' Equity	913.36	380.31	595.64	419.32	374.84	317.95
Total Liabilities & Equity	1,295	739.61	1,002	784.62	834.44	862.49
Total Debt	146.41	93.61	300.03	268.31	332.59	422.81
Net Cash (Debt)	382.33	-87.71	10.4	-240.04	-307.92	-400.92
Net Cash Per Share	0.43	-0.11	0.01	-0.38	-0.60	-0.79
Filing Date Shares Outstanding	805.49	797.55	823.65	637.7	509.6	509.6
Total Common Shares Outstanding	805.49	797.55	823.65	637.7	509.6	509.6
Working Capital	360.87	-223.28	31.38	-152.17	-130.51	-338.75
Book Value Per Share	1.13	0.48	0.72	0.66	0.72	0.60
Tangible Book Value	769.9	236.85	452.17	275.85	221.23	163.11
Tangible Book Value Per Share	0.96	0.30	0.55	0.43	0.43	0.32
Machinery	-	1,139	1,080	1,282	1,280	1,262
Leasehold Improvements	-	2.55	2.55	3.85	3.85	3.85

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