NOTE AB (publ) (STO:NOTE)

NOTE AB Balance Sheet

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	293	411.18	169.84	87.66	99.17
Cash & Short-Term Investments	293	411.18	169.84	87.66	99.17
Cash Growth	-28.74%	142.10%	93.75%	-11.61%	46.41%
Accounts Receivable	846	856.28	875.84	872.39	675.08
Other Receivables	67	45.24	26.81	29.2	32.3
Receivables	913	901.51	902.65	901.59	707.38
Inventory	868	963.76	1,290	1,254	886.64
Prepaid Expenses	-	19.56	17.38	13.12	11.79
Other Current Assets	-	0.13	0.95	0.63	0.34
Total Current Assets	2,074	2,296	2,381	2,257	1,705
Property, Plant & Equipment	626	568.26	511.88	299.02	276.19
Goodwill	595	272.31	258.88	165.58	141.01
Other Intangible Assets	122	54.57	51.99	34.69	35.36
Long-Term Deferred Tax Assets	16	15.38	14.39	7.31	4.94
Other Long-Term Assets	1	1.1	2.09	2.22	0.97
Total Assets	3,434	3,208	3,220	2,765	2,164
Accounts Payable	540	534.19	602.79	686.26	594.32
Accrued Expenses	-	134.26	140.22	118.14	98.65
Short-Term Debt	-	316.19	412.21	350.92	261.46
Current Portion of Long-Term Debt	570	0.38	-	1.98	2.97
Current Portion of Leases	24	63.55	64.48	47.43	46.04
Current Income Taxes Payable	-	46.82	37.63	43.46	52.75
Other Current Liabilities	311	143.14	226.14	225.01	121.14
Total Current Liabilities	1,445	1,239	1,483	1,473	1,177
Long-Term Debt	125	-81.67	5.4	5.87	12.35
Long-Term Leases	104	331.69	271.24	146.8	146.15
Long-Term Deferred Tax Liabilities	112	80.78	63.9	41.01	27.72
Total Liabilities	1,786	1,569	1,824	1,667	1,364
Common Stock	1,648	15.01	15.01	15.01	14.81
Additional Paid-In Capital	-	252.03	246.95	246.95	235.49
Retained Earnings	-	1,281	1,099	778.97	524.73
Comprehensive Income & Other	-	90.82	35.23	57.56	25.24
Shareholders' Equity	1,648	1,638	1,396	1,098	800.26
Total Liabilities & Equity	3,434	3,208	3,220	2,765	2,164
Total Debt	823	630.13	753.33	553	468.97
Net Cash (Debt)	-530	-218.95	-583.49	-465.35	-369.8
Net Cash Per Share	-18.56	-7.60	-20.13	-16.06	-12.81
Filing Date Shares Outstanding	28.55	28.98	28.98	28.98	28.58
Total Common Shares Outstanding	28.55	28.98	28.98	28.98	28.58
Working Capital	629	1,058	897.42	783.34	528
Book Value Per Share	57.73	56.53	48.17	37.90	28.00
Tangible Book Value	931	1,312	1,085	898.22	623.88
Tangible Book Value Per Share	32.61	45.25	37.44	30.99	21.83
Buildings	-	155.03	77.43	32.29	26.93
Machinery	-	655.93	589.74	444.52	389.78

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