Photon Energy Balance Sheet

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

Millions EUR. 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	3.25	8.44	5.84	11.27	32.51
Trading Asset Securities	-	1.65	2.01	5.17	2.3
Accounts Receivable	14.29	10.68	5.73	10.78	4.89
Other Receivables	14.58	11.81	10	3.87	1.99
Inventory	4.29	6.75	14.09	20.33	2.2
Prepaid Expenses	1.9	1.27	1.29	0.6	0.27
Loans Receivable Current	1.51	2.83	2.82	2.45	1.81
Other Current Assets	7.31	12.53	10.65	10.09	8.2
Total Current Assets	47.12	55.95	52.42	64.55	54.16
Property, Plant & Equipment	171.69	164.41	177.5	149	129.63
Goodwill	15.27	15.27	15.27	15.27	-
Other Intangible Assets	10.4	10.64	8.06	7.54	0.84
Long-Term Investments	18.59	19.12	18.84	9.33	11.36
Long-Term Deferred Tax Assets	4.96	4.42	2.78	1.6	-
Other Long-Term Assets	2.91	3.04	2.55	6.41	0.63
Total Assets	270.93	272.84	277.42	253.69	196.62
Accounts Payable	20.6	16.78	9.31	11.99	2.28
Accrued Expenses	-	2.73	1.89	1.29	0.55
Short-Term Debt	1.1	0.27	-	-	-
Current Portion of Long-Term Debt	14.13	18.46	13.41	10.93	28.46
Current Unearned Revenue	3.62	2.6	0.66	0.59	0.42
Current Portion of Leases	0.34	0.95	0.94	0.71	0.6
Current Income Taxes Payable	-	0.58	-	2.71	-
Other Current Liabilities	9.1	2.75	3.37	5.32	1.65
Total Current Liabilities	48.89	45.11	29.57	33.54	33.96
Long-Term Debt	151.01	150.53	160.82	135.19	98.7
Long-Term Leases	5.05	4.49	4.18	2.91	1.68
Long-Term Deferred Tax Liabilities	1.14	10.14	11.07	11.01	10.2
Other Long-Term Liabilities	12.47	2.51	2.28	0.57	0.55
Total Liabilities	218.56	212.77	207.92	183.22	145.08
Common Stock	0.61	0.61	0.61	0.6	0.6
Additional Paid-In Capital	41.08	40.73	40.69	40.52	31.44
Retained Earnings	-55.76	-37.76	-28.7	-15.4	-24.67
Treasury Stock	-1.05	-0.82	-0.83	-0.14	-0.04
Comprehensive Income & Other	67.88	57.65	58	45.08	44.35
Total Common Equity	52.77	60.41	69.77	70.67	51.69
Minority Interest	-0.39	-0.34	-0.26	-0.2	-0.15
Shareholders' Equity	52.37	60.07	69.5	70.48	51.54
Total Liabilities & Equity	270.93	272.84	277.42	253.69	196.62
Total Debt	171.63	174.69	179.35	149.74	129.44
Net Cash (Debt)	-168.39	-164.6	-171.5	-133.31	-94.63
Net Cash Per Share	-2.76	-2.75	-2.88	-2.35	-1.74
Filing Date Shares Outstanding	60.08	59.9	59.75	59.88	56.25
Total Common Shares Outstanding	60.08	59.9	59.75	58.67	56.25
Working Capital	-1.78	10.84	22.85	31.01	20.2
Book Value Per Share	0.88	1.01	1.17	1.20	0.92
Tangible Book Value	27.1	34.5	46.43	47.86	50.84
Tangible Book Value Per Share	0.45	0.58	0.78	0.82	0.90
Land	-	6.51	6.33	5.32	5.17
Machinery	-	228.93	225.46	184.78	184.1
Construction In Progress	-	13.22	21.47	28.11	3.05

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