Nel ASA Balance Sheet

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

Millions NOK. 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	1,617	1,876	3,363	3,139	2,723
Short-Term Investments	11.73	-	24.01	547.16	608.1
Cash & Short-Term Investments	1,629	1,876	3,387	3,686	3,331
Cash Growth	-13.14%	-44.63%	-8.09%	10.65%	-18.10%
Accounts Receivable	308.12	724.83	862.17	557.06	390.18
Other Receivables	20.69	32.03	41.62	34.04	7.9
Receivables	328.81	756.87	903.8	591.1	398.08
Inventory	918.79	531.75	703.99	504.6	328.47
Prepaid Expenses	104.45	230.73	214.85	147.42	55.53
Restricted Cash	-	2.26	-	-	-
Other Current Assets	5.58	10.5	166.85	48.79	31.2
Total Current Assets	2,987	3,408	5,377	4,978	4,144
Property, Plant & Equipment	1,190	1,664	1,306	785.49	623.51
Long-Term Investments	40.16	44.36	158.79	252.61	93.14
Goodwill	61.36	411.75	375.31	365.58	615.18
Other Intangible Assets	523.09	617.42	639.74	568.88	528.96
Other Long-Term Assets	155.17	158.91	0.57	0.35	2.05
Total Assets	4,957	6,304	7,857	6,951	6,007
Accounts Payable	126.8	110.74	204.86	201.74	132.96
Accrued Expenses	123.4	140.48	140.57	87.34	59.04
Current Portion of Leases	42.96	44.48	38.07	30.44	19.92
Current Unearned Revenue	372.42	583.39	715.29	672.29	360.82
Other Current Liabilities	99.15	122.97	229.37	199.8	132.31
Total Current Liabilities	764.73	1,002	1,328	1,192	705.05
Long-Term Debt	-	-	22.46	22.43	23.19
Long-Term Leases	190.19	215.52	199.14	170.18	113.51
Long-Term Unearned Revenue	60.49	69.28	66.24	64.05	69.54
Long-Term Deferred Tax Liabilities	-	34.81	38.44	45.53	48.54
Other Long-Term Liabilities	8.25	5.26	4.86	7.1	8.45
Total Liabilities	1,024	1,327	1,659	1,501	968.28
Common Stock	367.69	334.27	334.27	312.67	292.16
Additional Paid-In Capital	7,914	7,599	8,661	7,098	5,596
Retained Earnings	-4,507	-3,242	-2,998	-2,143	-971.64
Treasury Stock	-0.08	-0.08	-0.08	-0.08	-0.08
Comprehensive Income & Other	158.67	286.88	200.47	181.65	122.01
Shareholders' Equity	3,933	4,977	6,198	5,450	5,039
Total Liabilities & Equity	4,957	6,304	7,857	6,951	6,007
Total Debt	233.15	260	259.66	223.05	156.61
Net Cash (Debt)	1,396	1,616	3,128	3,463	3,174
Net Cash Growth	-13.59%	-48.35%	-9.67%	9.09%	-19.55%
Net Cash Per Share	0.77	0.97	1.89	2.25	2.17
Filing Date Shares Outstanding	1,838	1,671	1,671	1,563	1,460
Total Common Shares Outstanding	1,838	1,671	1,671	1,563	1,460
Working Capital	2,222	2,406	4,049	3,786	3,439
Book Value Per Share	2.14	2.98	3.71	3.49	3.45
Tangible Book Value	3,349	3,948	5,183	4,515	3,895
Tangible Book Value Per Share	1.82	2.36	3.10	2.89	2.67
Buildings	43.82	39.71	135.03	125.22	120.31
Machinery	1,537	1,352	652.97	560.29	124.55
Construction In Progress	230.16	336.13	552.18	81.61	348.94
Order Backlog	1,319	1,614	2,093	2,613	1,230

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.