Refine Group AB Balance Sheet

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

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	10.73	11.63	32.14	3.3
Cash & Short-Term Investments	17.73	11.63	32.14	3.3
Cash Growth	115.59%	-63.80%	873.49%	-
Accounts Receivable	8.58	9.9	15.25	12.98
Other Receivables	1.35	0.89	1.46	11.25
Receivables	9.93	10.79	16.72	24.22
Inventory	9.34	20.19	37.23	31.39
Prepaid Expenses	8.46	3.53	6.19	7.76
Total Current Assets	45.46	46.15	92.27	66.67
Property, Plant & Equipment	1.26	1.87	2.69	3.41
Long-Term Investments	-	-	1.34	-
Goodwill	108.23	168.06	312.45	258.51
Other Intangible Assets	-	-	-	0.4
Long-Term Deferred Tax Assets	-	1.89	1.89	-
Long-Term Deferred Charges	-	-	-	0.56
Other Long-Term Assets	1.84	-	0.27	0.28
Total Assets	156.79	217.97	410.91	329.83
Accounts Payable	8.96	20.7	19.31	11.32
Accrued Expenses	8.31	9.15	5.14	2.6
Short-Term Debt	-	10.49	48.98	80.17
Current Income Taxes Payable	-	-	4.63	4.31
Other Current Liabilities	22.65	61.84	80.47	26.97
Total Current Liabilities	39.92	102.17	158.53	125.36
Long-Term Debt	-	24.58	-	-
Other Long-Term Liabilities	30.71	14.04	33.21	13.29
Total Liabilities	70.63	140.79	191.74	138.64
Common Stock	12.89	33.76	27.62	7.37
Additional Paid-In Capital	-	1,013	1,308	211.93
Comprehensive Income & Other	72.65	-970.06	-1,119	-30.02
Total Common Equity	85.54	76.5	217.27	189.28
Minority Interest	0.62	0.68	1.89	1.91
Shareholders' Equity	86.15	77.17	219.17	191.19
Total Liabilities & Equity	156.79	217.97	410.91	329.83
Total Debt	-	35.08	48.98	80.17
Net Cash (Debt)	17.73	-23.44	-16.84	-76.87
Net Cash Per Share	0.14	-0.35	-0.56	-
Filing Date Shares Outstanding	128.89	67.51	55.24	0.13
Total Common Shares Outstanding	128.89	67.51	55.24	0.13
Working Capital	5.54	-56.03	-66.26	-58.68
Book Value Per Share	0.66	1.13	3.93	1455.49
Tangible Book Value	-22.69	-91.56	-95.18	-69.63
Tangible Book Value Per Share	-0.18	-1.36	-1.72	-535.40
Buildings	-	0.25	0.18	0.18
Machinery	-	6.2	6.42	4.26

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.