Metsä Board Oyj Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	309.3	182.6	291.6	356.2	524.2
Cash & Short-Term Investments	309.3	182.6	291.6	356.2	524.2
Cash Growth	69.39%	-37.38%	-18.14%	-32.05%	144.95%
Accounts Receivable	249.3	233.5	209.2	312.3	270.3
Other Receivables	-	49.8	43.2	75.7	47.5
Receivables	249.3	283.3	252.4	388	317.8
Inventory	374.1	472.6	394.4	506.7	382.6
Prepaid Expenses	-	4	6.4	7.9	14.7
Other Current Assets	-	9.2	29.9	40.5	45
Total Current Assets	932.7	951.7	974.7	1,299	1,284
Property, Plant & Equipment	1,266	1,248	1,230	1,108	935
Long-Term Investments	673	737.2	804.3	959.6	660
Goodwill	12.2	12.2	12.2	12.2	12.4
Other Intangible Assets	32.8	35	16.1	5.9	6.2
Long-Term Deferred Tax Assets	6	5.2	9.5	9.4	8.4
Other Long-Term Assets	3.6	4.4	5.4	6.6	12.5
Total Assets	2,926	2,994	3,055	3,403	2,922
Accounts Payable	494.8	297	282.7	360.4	348.6
Accrued Expenses	-	82.3	76.3	89.1	102
Current Portion of Long-Term Debt	68.8	108.2	11.8	12.2	3.9
Current Portion of Leases	-	7.3	5.3	6.4	6.1
Current Income Taxes Payable	-	-	15.8	11.6	19.9
Other Current Liabilities	3.3	41	29.9	68.2	43.3
Total Current Liabilities	566.9	535.8	421.8	547.9	523.8
Long-Term Debt	495.7	402	413.5	424.9	427.2
Long-Term Leases	-	9.9	7.5	9.5	9.8
Pension & Post-Retirement Benefits	8.7	8.1	10.1	10.4	13.7
Long-Term Deferred Tax Liabilities	92.8	123.2	139.2	149.5	96.2
Other Long-Term Liabilities	5	7.4	10.4	5.7	5.2
Total Liabilities	1,169	1,086	1,003	1,148	1,076
Common Stock	557.9	557.9	557.9	557.9	557.9
Retained Earnings	744	926.9	994.3	1,105	843.2
Treasury Stock	-2.8	-3.7	-5.5	-7.8	-
Comprehensive Income & Other	291.3	261.9	350.3	427.1	298.3
Total Common Equity	1,590	1,743	1,897	2,082	1,699
Minority Interest	166.3	164.7	155.6	173.2	146.2
Shareholders' Equity	1,757	1,908	2,053	2,255	1,846
Total Liabilities & Equity	2,926	2,994	3,055	3,403	2,922
Total Debt	564.5	527.4	438.1	453	447
Net Cash (Debt)	-255.2	-344.8	-146.5	-96.8	77.2
Net Cash Per Share	-0.72	-0.97	-0.41	-0.27	0.22
Filing Date Shares Outstanding	359.6	355.05	354.81	354.51	355.51
Total Common Shares Outstanding	359.6	355.05	354.81	354.51	355.51
Working Capital	365.8	415.9	552.9	751.4	760.5
Book Value Per Share	4.42	4.91	5.35	5.87	4.78
Tangible Book Value	1,545	1,696	1,869	2,064	1,681
Tangible Book Value Per Share	4.30	4.78	5.27	5.82	4.73
Land	-	16	16.1	12.4	15.7
Buildings	-	521	504.9	472.4	401.2
Machinery	-	3,085	2,998	2,782	2,563
Construction In Progress	-	32	71.4	163.2	306.1

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