ADES Holding Company Balance Sheet

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

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	939.59	744.19	432.28	190.83	232.86	234.33
Short-Term Investments	90.35	102.94	-	-	-	-
Cash & Short-Term Investments	1,347	847.12	432.28	190.83	232.86	234.33
Cash Growth	37.06%	95.97%	126.53%	-18.05%	-0.63%	-47.77%
Accounts Receivable	1,237	1,383	1,234	490.36	434.31	385.86
Other Receivables	1.22	1.22	5.11	9.84	34.28	13.51
Receivables	1,238	1,384	1,239	500.2	468.59	399.37
Inventory	608.29	527.27	331.89	184.27	148.47	178.53
Prepaid Expenses	487.43	502.39	352.32	644.26	300.93	272.14
Other Current Assets	-	-	-	49.66	-	-
Total Current Assets	3,681	3,261	2,356	1,569	1,151	1,084
Property, Plant & Equipment	18,797	18,062	16,793	12,579	5,423	3,868
Long-Term Investments	45.41	87.27	51.52	32.42	6.92	11.85
Other Intangible Assets	3.39	3.96	0.35	0.55	1.04	1.26
Long-Term Accounts Receivable	-	-	-	-	105.65	215.27
Long-Term Deferred Tax Assets	-	-	-	-	3.11	3.16
Other Long-Term Assets	112.86	215.19	221.37	319.99	1.8	5.68
Total Assets	22,640	21,629	19,422	14,501	6,692	5,190
Accounts Payable	1,369	736.58	1,092	742.61	262.44	318.62
Accrued Expenses	-	384.71	424.5	228.17	157.54	186.12
Short-Term Debt	48	44.96	44.94	170.07	196.49	48.39
Current Portion of Long-Term Debt	1,553	1,286	1,135	805.19	212.3	299.12
Current Portion of Leases	-	43.24	44.82	106.55	18.45	15.92
Current Income Taxes Payable	58.12	82.47	30.22	10.49	30.97	35.6
Current Unearned Revenue	328.66	358.98	287.75	-	-	-
Other Current Liabilities	19.22	113.07	88.09	97.41	99.03	52.56
Total Current Liabilities	3,376	3,050	3,147	2,160	977.22	956.34
Long-Term Debt	11,553	10,725	9,170	9,575	3,638	2,337
Long-Term Leases	289.08	352.37	487.36	270.13	38.41	52.35
Long-Term Unearned Revenue	447.33	679.96	579.91	70.17	26.73	65.29
Pension & Post-Retirement Benefits	-	159.14	199.14	117.98	83.15	62.21
Long-Term Deferred Tax Liabilities	131.35	94.07	61.33	44.04	-	-
Other Long-Term Liabilities	212.35	29.43	0.73	4.68	5.75	13.88
Total Liabilities	16,009	15,091	13,646	12,243	4,769	3,487
Common Stock	1,129	1,129	1,129	1	-	-
Additional Paid-In Capital	2,890	2,890	2,890	857.09	857.09	740.82
Retained Earnings	2,571	2,447	1,722	1,302	1,050	952.17
Treasury Stock	-28.13	-28.13	-33.87	-	-	-
Comprehensive Income & Other	26.67	54.67	41.15	61.77	-13.13	-26.2
Total Common Equity	6,589	6,493	5,748	2,222	1,894	1,667
Minority Interest	41.67	45.19	28.67	36.35	29.53	35.32
Shareholders' Equity	6,630	6,538	5,777	2,258	1,923	1,702
Total Liabilities & Equity	22,640	21,629	19,422	14,501	6,692	5,190
Total Debt	13,443	12,452	10,882	10,927	4,103	2,753
Net Cash (Debt)	-12,096	-11,605	-10,450	-10,737	-3,871	-2,519
Net Cash Per Share	-10.99	-10.58	-13.87	-	-	-
Filing Date Shares Outstanding	1,101	1,101	1,095	-	-	41.25
Total Common Shares Outstanding	1,101	1,101	1,095	-	-	41.25
Working Capital	304.63	210.14	-791.66	-591.27	173.64	128.04
Book Value Per Share	5.98	5.90	5.25	-	-	40.40
Tangible Book Value	6,585	6,489	5,748	2,222	1,893	1,666
Tangible Book Value Per Share	5.98	5.89	5.25	-	-	40.37
Land	58.48	58.48	58.48	58.48	58.48	-
Buildings	34.45	34.45	20.08	-	-	-
Machinery	862.48	668.07	533.56	424.23	329.42	245.31
Construction In Progress	373.85	458.95	2,944	3,926	130.41	310.78
Leasehold Improvements	697.56	694.33	636.23	2.6	2.6	1.97
Order Backlog	-	-	-	27,400	6,700	3,500

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