Solar Balance Sheet

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

Millions DKK. 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	133	459	441	166	481
Cash & Short-Term Investments	133	459	441	166	481
Cash Growth	-71.02%	4.08%	165.66%	-65.49%	19.06%
Accounts Receivable	1,719	1,661	1,648	1,859	1,502
Other Receivables	24	127	42	22	6
Receivables	1,743	1,788	1,690	1,881	1,508
Inventory	1,871	1,888	2,029	2,248	1,855
Prepaid Expenses	63	73	59	42	46
Total Current Assets	3,810	4,208	4,219	4,337	3,890
Property, Plant & Equipment	1,774	1,478	1,506	1,346	1,185
Long-Term Investments	3	3	4	4	5
Goodwill	301	75	122	-	-
Other Intangible Assets	350	306	226	173	159
Long-Term Deferred Tax Assets	36	11	7	9	13
Other Long-Term Assets	22	27	28	32	53
Total Assets	6,296	6,108	6,112	5,901	5,305
Accounts Payable	1,937	1,852	1,770	1,902	2,098
Accrued Expenses	295	349	397	481	497
Short-Term Debt	-	-	-	-	10
Current Portion of Long-Term Debt	662	858	731	568	58
Current Portion of Leases	154	141	130	117	102
Current Income Taxes Payable	11	8	54	63	33
Current Unearned Revenue	17	35	-	-	-
Other Current Liabilities	111	113	140	130	120
Total Current Liabilities	3,187	3,356	3,222	3,261	2,918
Long-Term Debt	664	425	434	293	120
Long-Term Leases	290	284	320	274	203
Long-Term Deferred Tax Liabilities	148	157	143	133	101
Other Long-Term Liabilities	11	12	11	9	11
Total Liabilities	4,300	4,234	4,130	3,970	3,353
Common Stock	801	736	736	736	736
Retained Earnings	1,345	1,326	1,394	1,376	1,374
Comprehensive Income & Other	-196	-234	-198	-181	-158
Total Common Equity	1,950	1,828	1,932	1,931	1,952
Minority Interest	46	46	50	-	-
Shareholders' Equity	1,996	1,874	1,982	1,931	1,952
Total Liabilities & Equity	6,296	6,108	6,112	5,901	5,305
Total Debt	1,770	1,708	1,615	1,252	493
Net Cash (Debt)	-1,637	-1,249	-1,174	-1,086	-12
Net Cash Per Share	-220.70	-170.38	-160.18	-148.18	-1.64
Filing Date Shares Outstanding	7.95	7.3	7.3	7.3	7.3
Total Common Shares Outstanding	7.95	7.3	7.3	7.3	7.3
Working Capital	623	852	997	1,076	972
Book Value Per Share	245.40	250.40	264.54	264.40	267.28
Tangible Book Value	1,299	1,447	1,584	1,758	1,793
Tangible Book Value Per Share	163.47	198.21	216.89	240.71	245.51
Land	1,118	1,219	1,249	1,208	1,124
Machinery	565	606	562	561	580
Construction In Progress	491	117	125	7	116
Leasehold Improvements	74	71	59	57	56

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