Zealand Pharma Balance Sheet

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

Millions DKK. 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	5,973	480.3	449.31	1,069	1,129	960.22
Short-Term Investments	-	23.63	-	-	-	-
Trading Asset Securities	10,197	7,722	1,184	108.61	299.04	297.35
Cash & Short-Term Investments	16,169	8,226	1,633	1,178	1,428	1,258
Cash Growth	90.65%	403.72%	38.65%	-17.53%	13.56%	-8.91%
Accounts Receivable	352.31	193.56	97.8	115.62	153.45	46.48
Other Receivables	99.31	97.44	40.99	21.6	21.56	15.44
Receivables	451.62	291	138.8	137.22	175.02	61.93
Inventory	-	10.7	7.94	1.29	118.44	65.04
Prepaid Expenses	-	-	-	-	-	35.16
Total Current Assets	16,621	8,528	1,780	1,316	1,722	1,420
Property, Plant & Equipment	141.39	125.25	149.85	165.49	221.45	213.04
Long-Term Investments	-	819.63	21.38	37.84	26.91	32.33
Other Intangible Assets	12.73	12.62	12.26	-	53.79	57.49
Long-Term Accounts Receivable	-	-	6.89	18.11	29.09	-
Long-Term Deferred Tax Assets	0.87	0.99	0.93	2.02	13.53	8.37
Other Long-Term Assets	21.19	19.41	8.91	-	1.27	31.04
Total Assets	16,797	9,506	1,980	1,540	2,068	1,762
Accounts Payable	243.9	181.28	91.61	180.76	266.39	70.38
Accrued Expenses	-	93.66	51.73	-	-	36.67
Current Portion of Leases	22.57	16.04	16.66	14.73	14.9	14.07
Current Income Taxes Payable	573.45	-	-	-	-	30.39
Current Unearned Revenue	121.14	-	-	-	53.03	53.18
Other Current Liabilities	217.52	112.5	124.59	-	-	150.56
Total Current Liabilities	1,179	403.47	284.58	195.49	334.32	355.26
Long-Term Debt	298.45	285.33	-	401.35	647.91	-
Long-Term Leases	85.41	90.39	102.58	108	124.63	116.05
Long-Term Unearned Revenue	3.25	-	-	-	14.55	44.59
Other Long-Term Liabilities	68.96	109.67	-	19.06	18.43	16.74
Total Liabilities	1,635	888.86	387.15	723.9	1,140	532.64
Common Stock	71.37	71.02	58.75	51.7	43.63	39.8
Additional Paid-In Capital	14,713	14,681	6,406	4,921	-	3,472
Retained Earnings	355.04	-6,157	-4,895	-4,172	-	-2,290
Treasury Stock	-	-	-	-	-	-1.7
Comprehensive Income & Other	23.24	22.39	22.7	14.62	884.17	8.98
Shareholders' Equity	15,163	8,617	1,593	815.91	927.8	1,229
Total Liabilities & Equity	16,797	9,506	1,980	1,540	2,068	1,762
Total Debt	406.44	391.76	119.23	524.08	787.43	130.12
Net Cash (Debt)	15,763	8,654	1,514	653.77	640.72	1,127
Net Cash Growth	78.83%	471.66%	131.55%	2.04%	-43.17%	-12.92%
Net Cash Per Share	220.75	130.26	26.75	14.15	14.95	29.38
Filing Date Shares Outstanding	70.29	70.65	58.38	51.47	43.22	39.55
Total Common Shares Outstanding	70.29	70.65	58.38	51.47	43.22	39.74
Working Capital	15,442	8,124	1,495	1,121	1,387	1,064
Book Value Per Share	215.72	121.96	27.28	15.85	21.47	30.94
Tangible Book Value	15,150	8,604	1,581	815.91	874.01	1,172
Tangible Book Value Per Share	215.54	121.78	27.07	15.85	20.22	29.49
Buildings	-	-	-	-	-	34.1
Machinery	-	84.91	78.57	82.83	106.63	101.18
Construction In Progress	-	-	-	0.87	12.11	3.02
Leasehold Improvements	-	39.3	38.91	38.19	36.6	-

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