Orange Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 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	7,540	8,766	5,618	6,004	8,621	8,145
Short-Term Investments	311	996	5,897	7,283	4,694	5,334
Trading Asset Securities	2,853	2,499	37	112	7	162
Cash & Short-Term Investments	10,704	12,261	11,552	13,399	13,322	13,641
Cash Growth	-7.97%	6.14%	-13.79%	0.58%	-2.34%	-4.97%
Accounts Receivable	6,985	7,468	7,808	7,875	7,489	6,856
Other Receivables	1,381	1,469	1,473	1,414	1,344	1,232
Receivables	8,366	8,937	9,281	9,289	8,833	8,088
Inventory	810	791	1,152	1,048	952	814
Prepaid Expenses	877	41	68	72	240	199
Other Current Assets	3,096	3,665	3,188	2,995	2,487	2,352
Total Current Assets	23,853	25,695	25,241	26,803	25,834	25,094
Property, Plant & Equipment	37,554	37,517	41,368	39,576	38,186	36,084
Long-Term Investments	5,629	6,326	3,780	4,577	3,914	2,882
Goodwill	21,056	21,100	23,775	23,113	24,192	27,596
Other Intangible Assets	12,448	12,456	15,098	14,946	14,940	15,135
Long-Term Deferred Tax Assets	812	522	598	421	692	674
Other Long-Term Assets	269	258	192	214	313	211
Total Assets	101,621	103,874	110,052	109,650	108,071	107,676
Accounts Payable	6,808	6,448	7,042	7,067	6,738	6,475
Accrued Expenses	3,996	3,919	4,115	3,823	3,752	3,471
Short-Term Debt	1,252	1,346	1,481	1,254	1,799	709
Current Portion of Long-Term Debt	4,209	4,742	4,010	3,499	1,746	4,496
Current Portion of Leases	1,421	1,374	1,469	1,509	1,369	1,496
Current Income Taxes Payable	440	555	460	538	425	673
Current Unearned Revenue	2,557	2,536	2,852	2,728	2,692	2,149
Other Current Liabilities	6,087	6,988	9,097	8,805	8,755	8,825
Total Current Liabilities	26,770	27,908	30,526	29,223	27,276	28,294
Long-Term Debt	29,018	29,212	30,760	32,327	32,142	30,933
Long-Term Leases	6,087	5,992	7,099	6,901	6,696	5,875
Pension & Post-Retirement Benefits	3,690	2,274	2,551	2,567	2,798	1,984
Long-Term Deferred Tax Liabilities	999	1,032	1,143	1,124	1,185	855
Other Long-Term Liabilities	2,435	2,295	2,874	2,552	2,613	2,535
Total Liabilities	68,999	68,713	74,953	74,694	72,710	70,476
Common Stock	10,640	10,640	10,640	10,640	10,640	10,640
Additional Paid-In Capital	16,859	16,859	16,859	16,859	16,859	16,859
Retained Earnings	-1,346	403	61	-313	-399	1,966
Comprehensive Income & Other	3,265	3,871	4,265	4,598	5,241	5,092
Total Common Equity	29,418	31,773	31,825	31,784	32,341	34,557
Minority Interest	3,204	3,388	3,274	3,172	3,020	2,643
Shareholders' Equity	32,622	35,161	35,099	34,956	35,361	37,200
Total Liabilities & Equity	101,621	103,874	110,052	109,650	108,071	107,676
Total Debt	41,987	42,666	44,819	45,490	43,752	43,509
Net Cash (Debt)	-31,283	-30,405	-33,267	-32,091	-30,430	-29,868
Net Cash Per Share	-13.99	-11.43	-12.50	-11.94	-11.45	-11.13
Filing Date Shares Outstanding	2,659	2,658	2,658	2,658	2,658	2,659
Total Common Shares Outstanding	2,659	2,658	2,658	2,658	2,658	2,659
Working Capital	-2,917	-2,213	-5,285	-2,420	-1,442	-3,200
Book Value Per Share	11.07	11.95	11.97	11.96	12.17	13.00
Tangible Book Value	-4,086	-1,783	-7,048	-6,275	-6,791	-8,174
Tangible Book Value Per Share	-1.54	-0.67	-2.65	-2.36	-2.55	-3.07
Land	-	7,903	-	-	-	-
Machinery	-	3,334	-	-	-	-
Order Backlog	-	8,890	-	-	-	-

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