Northern Ocean Balance Sheet

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

Millions USD. 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	43.77	42.75	54.35	67.49	5.46	37.47
Short-Term Investments	0.04	0.04	0.04	0.04	1.19	-
Cash & Short-Term Investments	43.81	42.79	54.39	67.53	6.65	37.47
Cash Growth	-38.55%	-21.33%	-19.46%	915.78%	-82.26%	-30.47%
Accounts Receivable	22.03	54.97	47.91	19.16	-	18.35
Other Receivables	4.57	0.6	0.62	3.91	4.51	4.24
Receivables	26.59	55.57	48.53	23.07	4.51	22.59
Inventory	-	0.34	-	0.49	-	-
Restricted Cash	0.17	0.14	0.14	5.43	10.15	0.16
Other Current Assets	33.38	3.67	29.13	38.29	2.45	0.69
Total Current Assets	103.95	102.5	132.19	134.8	23.76	60.91
Property, Plant & Equipment	926.94	929.07	923.59	917.71	953.76	1,071
Long-Term Deferred Tax Assets	26.57	-	-	-	0.04	2.97
Long-Term Deferred Charges	-	-	-	1.27	-	-
Total Assets	1,057	1,032	1,056	1,054	977.55	1,135
Accounts Payable	24.74	12.59	5.17	7.66	2.33	4.95
Accrued Expenses	39.17	17.57	43.48	27.33	4.21	7.38
Current Portion of Long-Term Debt	291.99	14.95	83.7	19.97	10	190
Current Portion of Leases	0.04	0.12	0.11	0.2	-	-
Current Unearned Revenue	20.8	3.97	14.74	22.22	1.92	17.91
Other Current Liabilities	16.95	17.76	11.02	1.98	1	124.53
Total Current Liabilities	393.69	66.95	158.22	79.36	19.46	344.77
Long-Term Debt	248.73	515.85	457.95	461.23	459.53	277.55
Long-Term Leases	-	-	-	0.16	-	-
Long-Term Unearned Revenue	20.03	2.61	2.72	6.24	2.93	5.23
Total Liabilities	662.45	585.4	618.89	546.98	481.92	627.55
Common Stock	151.61	151.61	91.34	90.81	63.8	63.8
Additional Paid-In Capital	580.82	580.21	565.61	565.18	488.33	488.33
Retained Earnings	-337.8	-285.6	-219.95	-149.05	-56.16	-45.13
Comprehensive Income & Other	0.38	-0.05	-0.11	-0.15	-0.35	0.07
Shareholders' Equity	395.01	446.16	436.9	506.8	495.63	507.08
Total Liabilities & Equity	1,057	1,032	1,056	1,054	977.55	1,135
Total Debt	540.76	530.91	541.76	481.56	469.53	467.55
Net Cash (Debt)	-496.95	-488.13	-487.37	-414.03	-462.88	-430.08
Net Cash Per Share	-1.43	-1.72	-2.67	-3.58	-7.25	-6.74
Filing Date Shares Outstanding	303.22	303.22	182.68	181.62	103.8	63.8
Total Common Shares Outstanding	303.22	303.22	182.68	181.62	63.8	63.8
Working Capital	-289.74	35.55	-26.04	55.45	4.31	-283.86
Book Value Per Share	1.30	1.47	2.39	2.79	7.77	7.95
Tangible Book Value	395.01	446.16	436.9	506.8	495.63	507.08
Tangible Book Value Per Share	1.30	1.47	2.39	2.79	7.77	7.95
Machinery	1,142	1,104	1,067	1,033	1,029	1,103
Order Backlog	-	415	-	-	-	-

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