Photon Energy 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	3.78	8.44	5.84	11.27	32.51	9.89
Trading Asset Securities	-	1.65	2.01	5.17	2.3	-
Accounts Receivable	15.19	10.68	5.73	10.78	4.89	5.69
Other Receivables	13.07	11.81	10	3.87	1.99	0.35
Inventory	4.17	6.75	14.09	20.33	2.2	1.01
Prepaid Expenses	1.51	1.27	1.29	0.6	0.27	0.26
Loans Receivable Current	2.89	2.83	2.82	2.45	1.81	1.14
Other Current Assets	7.54	12.53	10.65	10.09	8.2	5.52
Total Current Assets	48.14	55.95	52.42	64.55	54.16	23.85
Property, Plant & Equipment	167.65	164.41	177.5	149	129.63	128.6
Goodwill	15.27	15.27	15.27	15.27	-	-
Other Intangible Assets	10.51	10.64	8.06	7.54	0.84	1.26
Long-Term Investments	2.08	19.12	18.84	9.33	11.36	4.68
Long-Term Deferred Tax Assets	4.93	4.42	2.78	1.6	-	-
Other Long-Term Assets	19.73	3.04	2.55	6.41	0.63	0.51
Total Assets	268.31	272.84	277.42	253.69	196.62	158.9
Accounts Payable	15.38	16.78	9.31	11.99	2.28	3.63
Accrued Expenses	-	2.73	1.89	1.29	0.55	0.41
Short-Term Debt	-	0.27	-	-	-	-
Current Portion of Long-Term Debt	14.13	18.46	13.41	10.93	28.46	6.42
Current Unearned Revenue	4.95	2.6	0.66	0.59	0.42	0.84
Current Portion of Leases	0.54	0.95	0.94	0.71	0.6	0.47
Current Income Taxes Payable	-	0.58	-	2.71	-	0.63
Other Current Liabilities	6.66	2.75	3.37	5.32	1.65	2.77
Total Current Liabilities	41.66	45.11	29.57	33.54	33.96	15.17
Long-Term Debt	153.14	150.53	160.82	135.19	98.7	91.28
Long-Term Leases	4.91	4.49	4.18	2.91	1.68	1.94
Long-Term Deferred Tax Liabilities	11.74	10.14	11.07	11.01	10.2	9.89
Other Long-Term Liabilities	1.74	2.51	2.28	0.57	0.55	0.52
Total Liabilities	213.19	212.77	207.92	183.22	145.08	118.79
Common Stock	0.61	0.61	0.61	0.6	0.6	0.6
Additional Paid-In Capital	41.01	40.73	40.69	40.52	31.44	23.95
Retained Earnings	-45.53	-37.76	-28.7	-15.4	-24.67	-22.09
Treasury Stock	-1.04	-0.82	-0.83	-0.14	-0.04	-0.09
Comprehensive Income & Other	60.46	57.65	58	45.08	44.35	37.86
Total Common Equity	55.51	60.41	69.77	70.67	51.69	40.24
Minority Interest	-0.39	-0.34	-0.26	-0.2	-0.15	-0.12
Shareholders' Equity	55.13	60.07	69.5	70.48	51.54	40.11
Total Liabilities & Equity	268.31	272.84	277.42	253.69	196.62	158.9
Total Debt	172.72	174.69	179.35	149.74	129.44	100.11
Net Cash (Debt)	-168.94	-164.6	-171.5	-133.31	-94.63	-90.21
Net Cash Per Share	-2.81	-2.75	-2.88	-2.35	-1.74	-1.73
Filing Date Shares Outstanding	60.17	59.9	59.75	59.88	56.25	51.22
Total Common Shares Outstanding	60.17	59.9	59.75	58.67	56.25	51.22
Working Capital	6.48	10.84	22.85	31.01	20.2	8.69
Book Value Per Share	0.92	1.01	1.17	1.20	0.92	0.79
Tangible Book Value	29.73	34.5	46.43	47.86	50.84	38.98
Tangible Book Value Per Share	0.49	0.58	0.78	0.82	0.90	0.76
Land	-	6.51	6.33	5.32	5.17	4.47
Machinery	-	228.93	225.46	184.78	184.1	163.53
Construction In Progress	-	13.22	21.47	28.11	3.05	9.7

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