Strategic Investments 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	0.58	7.08	66.73	2.63	1.18	25.32
Short-Term Investments	110.53	104.79	187.33	225.95	205.85	147.58
Cash & Short-Term Investments	111.1	111.86	254.05	228.58	207.03	172.9
Cash Growth	-32.16%	-55.97%	11.14%	10.41%	19.74%	-22.06%
Other Receivables	-	0.23	0.09	6.02	5.17	2.77
Receivables	24.58	24.13	2.84	6.02	5.17	2.77
Other Current Assets	-	5.06	8.39	14.02	3.77	3.73
Total Current Assets	135.68	141.04	265.29	248.62	215.97	179.4
Long-Term Investments	235.92	220.92	264.2	220.24	219.97	222.48
Long-Term Deferred Tax Assets	10	10	20	20	20	20
Other Long-Term Assets	-0	-	-	-	-	0
Total Assets	381.59	371.97	549.49	488.86	455.94	421.88
Short-Term Debt	50.46	26.13	56.8	92.11	84.2	101.07
Current Income Taxes Payable	-	-	-	3.1	0.21	1.99
Other Current Liabilities	12.94	4.21	5.5	4.71	9.19	2.86
Total Current Liabilities	63.39	30.34	62.3	99.92	93.6	105.92
Long-Term Debt	25.98	25.03	-	-	-	-
Other Long-Term Liabilities	-	-	-	-	-	-0
Total Liabilities	89.37	55.37	62.3	99.92	93.6	105.92
Common Stock	292.22	203.25	203.25	174	174	174
Additional Paid-In Capital	-	108.15	108.15	64.28	64.28	64.28
Retained Earnings	-	10.37	183.42	155.79	133.7	87.33
Treasury Stock	-	-5.17	-7.63	-9.64	-9.64	-9.64
Comprehensive Income & Other	-	-	-	4.52	-	-
Shareholders' Equity	292.22	316.6	487.19	388.94	362.34	315.97
Total Liabilities & Equity	381.59	371.97	549.49	488.86	455.94	421.88
Total Debt	76.43	51.16	56.8	92.11	84.2	101.07
Net Cash (Debt)	34.67	60.7	197.26	136.47	122.83	71.83
Net Cash Growth	-75.06%	-69.23%	44.54%	11.11%	71.00%	-53.27%
Net Cash Per Share	0.09	0.15	0.58	0.40	0.36	0.21
Filing Date Shares Outstanding	403.9	400.85	398.18	337.48	337.48	337.48
Total Common Shares Outstanding	403.9	400.85	398.18	337.48	337.48	337.48
Working Capital	72.29	110.7	202.99	148.7	122.37	73.48
Book Value Per Share	0.72	0.79	1.22	1.15	1.07	0.94
Tangible Book Value	292.22	316.6	487.19	388.94	362.34	315.97
Tangible Book Value Per Share	0.72	0.79	1.22	1.15	1.07	0.94

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