Metsä Board Oyj Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	264.2	309.3	182.6	291.6	356.2	524.2
Cash & Short-Term Investments	264.2	309.3	182.6	291.6	356.2	524.2
Cash Growth	54.23%	69.39%	-37.38%	-18.14%	-32.05%	144.95%
Accounts Receivable	266	201.3	233.5	209.2	312.3	270.3
Other Receivables	-	36.4	49.8	43.2	75.7	47.5
Receivables	266	237.7	283.3	252.4	388	317.8
Inventory	387.7	374.1	472.6	394.4	506.7	382.6
Prepaid Expenses	-	3.3	4	6.4	7.9	14.7
Other Current Assets	-	8.3	9.2	29.9	40.5	45
Total Current Assets	917.9	932.7	951.7	974.7	1,299	1,284
Property, Plant & Equipment	1,244	1,266	1,248	1,230	1,108	935
Long-Term Investments	589.8	673	737.2	804.3	959.6	660
Goodwill	19.4	12.2	12.2	12.2	12.2	12.4
Other Intangible Assets	32.6	32.8	35	16.1	5.9	6.2
Long-Term Deferred Tax Assets	6.1	6	5.2	9.5	9.4	8.4
Other Long-Term Assets	4.5	3.2	4.4	5.4	6.6	12.5
Total Assets	2,814	2,926	2,994	3,055	3,403	2,922
Accounts Payable	451.7	389.4	297	282.7	360.4	348.6
Accrued Expenses	-	91.5	82.3	76.3	89.1	102
Short-Term Debt	-	52.1	96.4	-	-	-
Current Portion of Long-Term Debt	105.7	11.9	11.8	11.8	12.2	3.9
Current Portion of Leases	-	4.8	7.3	5.3	6.4	6.1
Current Income Taxes Payable	-	0.3	-	15.8	11.6	19.9
Other Current Liabilities	0.2	16.9	41	29.9	68.2	43.3
Total Current Liabilities	557.6	566.9	535.8	421.8	547.9	523.8
Long-Term Debt	499.8	487.1	402	413.5	424.9	427.2
Long-Term Leases	-	8.6	9.9	7.5	9.5	9.8
Pension & Post-Retirement Benefits	8.2	8.7	8.1	10.1	10.4	13.7
Long-Term Deferred Tax Liabilities	73.5	92.8	123.2	139.2	149.5	96.2
Other Long-Term Liabilities	5.8	5	7.4	10.4	5.7	5.2
Total Liabilities	1,145	1,169	1,086	1,003	1,148	1,076
Common Stock	557.9	557.9	557.9	557.9	557.9	557.9
Retained Earnings	729.4	745.6	926.9	994.3	1,105	843.2
Treasury Stock	-2.8	-2.8	-3.7	-5.5	-7.8	-
Comprehensive Income & Other	222	289.7	261.9	350.3	427.1	298.3
Total Common Equity	1,507	1,590	1,743	1,897	2,082	1,699
Minority Interest	162.5	166.3	164.7	155.6	173.2	146.2
Shareholders' Equity	1,669	1,757	1,908	2,053	2,255	1,846
Total Liabilities & Equity	2,814	2,926	2,994	3,055	3,403	2,922
Total Debt	605.5	564.5	527.4	438.1	453	447
Net Cash (Debt)	-341.3	-255.2	-344.8	-146.5	-96.8	77.2
Net Cash Per Share	-0.95	-0.72	-0.97	-0.41	-0.27	0.22
Filing Date Shares Outstanding	367.5	355.15	355.05	354.81	354.51	355.51
Total Common Shares Outstanding	367.5	355.15	355.05	354.81	354.51	355.51
Working Capital	360.3	365.8	415.9	552.9	751.4	760.5
Book Value Per Share	4.10	4.48	4.91	5.35	5.87	4.78
Tangible Book Value	1,455	1,545	1,696	1,869	2,064	1,681
Tangible Book Value Per Share	3.96	4.35	4.78	5.27	5.82	4.73
Land	-	15.6	16	16.1	12.4	15.7
Buildings	-	456.7	521	504.9	472.4	401.2
Machinery	-	2,324	3,085	2,998	2,782	2,563
Construction In Progress	-	34.3	32	71.4	163.2	306.1

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