Terna 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	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	2,458	2,312	1,378	2,155	1,567	2,689
Short-Term Investments	601.6	426.5	362.2	246.8	958.5	611.4
Accounts Receivable	1,169	3,195	2,155	2,358	2,777	1,245
Other Receivables	-	137.8	130.6	166.8	60.1	98.9
Inventory	-	108.2	75	83	69.9	66.4
Prepaid Expenses	-	26.7	24	22.7	16.8	14.8
Other Current Assets	13.8	48.7	118	88.4	408.6	51.4
Total Current Assets	4,242	6,254	4,243	5,121	5,858	4,778
Property, Plant & Equipment	20,663	19,237	17,597	16,201	15,317	14,560
Goodwill	-	250.9	252.3	251.5	256.5	230.1
Other Intangible Assets	1,182	731.3	614.9	524.3	400	347.8
Long-Term Investments	-	97.4	200.1	193.6	99.5	99.7
Long-Term Loans Receivable	-	10	10.9	11	10.4	9.6
Long-Term Deferred Tax Assets	-	228.4	168.7	121	146.6	111.8
Other Long-Term Assets	553.6	377.3	307	379.5	271.5	493.2
Total Assets	26,640	27,187	23,393	22,803	22,359	20,630
Accounts Payable	1,997	3,443	2,791	3,642	3,247	2,205
Accrued Expenses	-	159.6	131	183.2	118	83.1
Short-Term Debt	823.2	1,767	1,314	487.6	1,988	1,090
Current Portion of Long-Term Debt	881.7	662.5	1,386	1,911	1,645	1,391
Current Unearned Revenue	-	413.7	340.7	197.4	120.3	72
Current Portion of Leases	-	18.5	-	-	-	-
Current Income Taxes Payable	244.2	112.3	-	43.8	28.1	-
Other Current Liabilities	1,930	286.6	364.1	344.3	501.8	190.3
Total Current Liabilities	5,876	6,864	6,327	6,809	7,648	5,031
Long-Term Debt	13,023	11,417	9,508	8,596	8,882	10,077
Long-Term Leases	-	40.3	65.6	67.7	36.9	36.9
Long-Term Unearned Revenue	-	585.4	-	-	-	-
Pension & Post-Retirement Benefits	-	88	83.4	75.3	82.8	91.7
Other Long-Term Liabilities	-49.7	647.9	1,067	1,085	997	978.1
Total Liabilities	18,850	19,643	17,050	16,634	17,646	16,215
Common Stock	7,768	442.2	442.2	442.2	442.2	442.2
Additional Paid-In Capital	-	20	20	20	20	20
Retained Earnings	-	4,501	4,134	3,913	3,645	3,403
Treasury Stock	-	-31.4	-29.8	-29.5	-19.5	-9.5
Comprehensive Income & Other	-	2,593	1,758	1,796	594.5	514.3
Total Common Equity	7,768	7,524	6,324	6,142	4,682	4,370
Minority Interest	21.7	19.8	18.9	27.1	31.1	46
Shareholders' Equity	7,790	7,544	6,343	6,169	4,713	4,416
Total Liabilities & Equity	26,640	27,187	23,393	22,803	22,359	20,630
Total Debt	14,728	13,906	12,274	11,062	12,552	12,594
Net Cash (Debt)	-11,669	-11,168	-10,533	-8,660	-10,026	-9,294
Net Cash Per Share	-	-5.57	-5.09	-4.31	-4.99	-4.63
Filing Date Shares Outstanding	-	2,006	2,006	2,006	2,007	2,008
Total Common Shares Outstanding	-	2,006	2,006	2,006	2,007	2,008
Working Capital	-1,635	-609.7	-2,084	-1,688	-1,790	-252.3
Book Value Per Share	-	2.84	2.66	2.57	2.33	2.18
Tangible Book Value	6,586	6,542	5,457	5,366	4,025	3,792
Tangible Book Value Per Share	-	2.35	2.23	2.18	2.01	1.89
Land	-	242.8	232.5	217.7	211.7	210.1
Buildings	-	2,715	2,588	2,403	2,288	2,232
Machinery	-	23,827	22,643	21,212	20,375	19,513
Construction In Progress	-	3,755	2,885	2,581	2,193	1,848

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