Nickel Asia Balance Sheet

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

Millions PHP. 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	17,574	12,935	15,482	10,809	10,827
Short-Term Investments	406.6	529.19	504.91	803.16	3,297
Trading Asset Securities	1,532	1,422	1,291	3,361	5,266
Cash & Short-Term Investments	19,513	14,886	17,279	14,973	19,390
Cash Growth	31.08%	-13.85%	15.40%	-22.78%	11.88%
Accounts Receivable	2,382	825.48	1,088	2,264	1,245
Other Receivables	-	264.64	213.1	194.17	474.06
Receivables	2,382	1,090	1,301	2,463	1,922
Inventory	2,647	3,356	3,038	2,432	2,243
Prepaid Expenses	1,066	514.76	405.69	210.11	195.22
Other Current Assets	-	3,989	1,465	876.39	260.89
Total Current Assets	25,607	23,836	23,489	20,955	24,011
Property, Plant & Equipment	33,126	26,869	21,264	16,164	20,342
Long-Term Investments	4,631	4,699	6,828	8,316	5,044
Other Intangible Assets	-	114.41	79.99	13.77	62.39
Long-Term Deferred Tax Assets	270.36	554.61	439.6	400.61	309.75
Long-Term Deferred Charges	-	137.74	268.38	21.71	26.76
Other Long-Term Assets	6,533	5,440	5,557	3,887	1,841
Total Assets	70,168	61,651	57,927	49,759	51,701
Accounts Payable	3,931	2,080	1,326	1,036	693.24
Accrued Expenses	-	997.49	950.28	814.83	847.75
Short-Term Debt	5,048	6,986	5,848	1,498	1,493
Current Portion of Long-Term Debt	454.83	372.15	345.76	97.57	89.25
Current Portion of Leases	111.91	95.69	54.35	7.62	35.75
Current Income Taxes Payable	590.77	401.53	321.99	625.32	773.45
Current Unearned Revenue	-	167.23	5.22	4.19	7.25
Other Current Liabilities	760.72	1,652	1,138	689.54	7,985
Total Current Liabilities	10,897	12,752	9,990	4,773	11,925
Long-Term Debt	8,906	2,060	2,342	2,119	867.11
Long-Term Leases	1,083	877.44	779.08	603.55	578.19
Long-Term Unearned Revenue	25.14	29.33	33.52	37.71	41.9
Pension & Post-Retirement Benefits	72.18	84.96	388.72	435.44	624.11
Long-Term Deferred Tax Liabilities	411.31	505.87	378.92	468.26	511.43
Other Long-Term Liabilities	944.46	927.4	909.55	791.06	823.96
Total Liabilities	22,339	17,238	14,822	9,228	15,372
Common Stock	7,000	6,993	6,993	6,843	6,843
Additional Paid-In Capital	9,206	9,206	9,206	8,272	8,272
Retained Earnings	22,632	18,895	19,135	18,754	16,845
Treasury Stock	-134.01	-134.01	-134.01	-134.01	-134.01
Comprehensive Income & Other	1,015	1,660	1,052	1,947	1,107
Total Common Equity	39,719	36,619	36,252	35,681	32,933
Minority Interest	8,110	7,787	6,846	4,842	3,389
Shareholders' Equity	47,829	44,413	43,105	40,531	36,329
Total Liabilities & Equity	70,168	61,651	57,927	49,759	51,701
Total Debt	15,604	10,391	9,369	4,326	3,063
Net Cash (Debt)	3,909	4,495	7,910	10,647	16,327
Net Cash Growth	-13.04%	-43.18%	-25.71%	-34.79%	14.62%
Net Cash Per Share	0.28	0.32	0.57	0.78	1.20
Filing Date Shares Outstanding	13,930	13,931	13,931	13,631	13,631
Total Common Shares Outstanding	13,930	13,931	13,931	13,631	13,631
Working Capital	14,710	11,084	13,498	16,182	12,086
Book Value Per Share	2.85	2.63	2.60	2.62	2.42
Tangible Book Value	39,719	36,505	36,172	35,668	32,870
Tangible Book Value Per Share	2.85	2.62	2.60	2.62	2.41
Land	-	841.08	292.21	292.89	292.89
Buildings	-	5,486	4,582	4,649	4,567
Machinery	-	20,151	20,063	17,274	16,472
Construction In Progress	-	10,299	4,046	2,416	6,054

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