Nel ASA Balance Sheet

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

Millions NOK. 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	1,443	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	1,443	1,629	1,876	3,387	3,686	3,331
Cash Growth	-29.95%	-13.14%	-44.63%	-8.09%	10.65%	-18.10%
Accounts Receivable	265.08	308.12	724.83	862.17	557.06	390.18
Other Receivables	-	20.69	32.03	41.62	34.04	7.9
Receivables	265.08	328.81	756.87	903.8	591.1	398.08
Inventory	905.1	918.79	531.75	703.99	504.6	328.47
Prepaid Expenses	-	104.45	230.73	214.85	147.42	55.53
Restricted Cash	0.05	-	2.26	-	-	-
Other Current Assets	138.31	5.58	10.5	166.85	48.79	31.2
Total Current Assets	2,751	2,987	3,408	5,377	4,978	4,144
Property, Plant & Equipment	1,160	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	61.36	411.75	375.31	365.58	615.18
Other Intangible Assets	532.48	523.09	617.42	639.74	568.88	528.96
Other Long-Term Assets	149.39	155.17	158.91	0.57	0.35	2.05
Total Assets	4,654	4,957	6,304	7,857	6,951	6,007
Accounts Payable	41.68	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	41.81	42.96	44.48	38.07	30.44	19.92
Current Unearned Revenue	373.04	372.42	583.39	715.29	672.29	360.82
Other Current Liabilities	166.81	99.15	122.97	229.37	199.8	132.31
Total Current Liabilities	623.33	764.73	1,002	1,328	1,192	705.05
Long-Term Debt	-	-	-	22.46	22.43	23.19
Long-Term Leases	183.37	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	76.12	8.25	5.26	4.86	7.1	8.45
Total Liabilities	882.83	1,024	1,327	1,659	1,501	968.28
Common Stock	367.69	367.69	334.27	334.27	312.67	292.16
Additional Paid-In Capital	7,914	7,914	7,599	8,661	7,098	5,596
Retained Earnings	-4,580	-4,507	-3,242	-2,998	-2,143	-971.64
Treasury Stock	-0.08	-0.08	-0.08	-0.08	-0.08	-0.08
Comprehensive Income & Other	69.12	158.67	286.88	200.47	181.65	122.01
Shareholders' Equity	3,771	3,933	4,977	6,198	5,450	5,039
Total Liabilities & Equity	4,654	4,957	6,304	7,857	6,951	6,007
Total Debt	225.18	233.15	260	259.66	223.05	156.61
Net Cash (Debt)	1,217	1,396	1,616	3,128	3,463	3,174
Net Cash Growth	-32.43%	-13.59%	-48.35%	-9.67%	9.09%	-19.55%
Net Cash Per Share	0.66	0.77	0.97	1.89	2.25	2.17
Filing Date Shares Outstanding	1,838	1,838	1,671	1,671	1,563	1,460
Total Common Shares Outstanding	1,838	1,838	1,671	1,671	1,563	1,460
Working Capital	2,128	2,222	2,406	4,049	3,786	3,439
Book Value Per Share	2.05	2.14	2.98	3.71	3.49	3.45
Tangible Book Value	3,177	3,349	3,948	5,183	4,515	3,895
Tangible Book Value Per Share	1.73	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

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