FREYR Battery (FREY) Financial Statements (2024 and earlier)

Company Profile

Business Address 22-24, BOULEVARD ROYAL
GRAND DUCHY OF LUXEMBOURG, L-2449
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments334,364392,536443,063416,431484,204523,208
Cash and cash equivalents334,364392,536443,063416,431484,204523,208
Restricted cash and investments49,42582,240119,982   
Prepaid expense4,2506,0708,2939,39719,34816,191
Other current assets6,84511,2758,1179,3175,72811,327
Other undisclosed current assets    2,1604,1601,366
Total current assets:394,884492,121579,455437,305513,440552,092
Noncurrent Assets
Operating lease, right-of-use asset23,43123,41514,53812,73012,7859,900
Property, plant and equipment320,007265,439210,77790,39245,33935,265
Long-term investments and receivables22,62822,65819,9651,8162,4862,782
Long-term investments22,62822,65819,9651,8162,4862,782
Intangible assets, net (including goodwill)2,8882,9252,963   
Intangible assets, net (excluding goodwill)2,8882,9252,963   
Other noncurrent assets914    
Other undisclosed noncurrent assets    20,49820,72219,999
Total noncurrent assets:368,963314,451248,243125,43681,33267,946
TOTAL ASSETS:763,847806,572827,698562,741594,772620,038
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities52,67255,89458,21147,25850,39537,796
Employee-related liabilities10,4379,5177,173
Accounts payable20,16211,9416,7652,7959,0254,245
Accrued liabilities32,51043,95351,44634,02631,85326,378
Deferred revenue    1,3061,2361,392
Deferred compensation liability4,5704,3824,3678,2279852,552
Due to related parties 799620 
Other liabilities      2
Other undisclosed current liabilities    (10,437)(9,517)(6,621)
Total current liabilities:57,24260,27662,57847,15343,71935,121
Noncurrent Liabilities
Long-term debt and lease obligation:    9,93311,0907,860
Liabilities, other than long-term debt73,71671,32344,993 3,000 
Due to related parties  3,000 
Other liabilities20,14520,000    
Operating lease, liability18,63218,88411,1449,93311,0907,860
Derivative instruments and hedges, liabilities34,93932,43933,849   
Other undisclosed noncurrent liabilities    84,77924,00357,436
Total noncurrent liabilities:73,71671,32344,993104,64538,09373,156
Total liabilities:130,958131,599107,571151,79881,812108,277
Equity
Equity, attributable to parent630,515672,478717,455410,943512,960511,761
Common stock139,854139,854139,854116,854116,854116,854
Treasury stock, value(1,041)(1,041)(1,041)(1,052)(1,052) 
Additional paid in capital777,813774,069772,602540,561539,639534,268
Accumulated other comprehensive income (loss)(45,049)(24,624)9,094(17,071)(7,982)(191)
Accumulated deficit(241,062)(215,780)(203,054)(228,349)(134,499)(139,170)
Equity, attributable to noncontrolling interest2,3742,4952,672   
Total equity:632,889674,973720,127410,943512,960511,761
TOTAL LIABILITIES AND EQUITY:763,847806,572827,698562,741594,772620,038

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues    71261,435
Net investment income    712635
Other income      1,400
Gross profit:    71261,435
Operating expenses(34,026)(34,871)(34,275)(29,045)(31,528)(27,640)
Other undisclosed operating loss    (71)(26)(1,435)
Operating loss:(34,026)(34,871)(34,275)(29,045)(31,528)(27,640)
Nonoperating income (expense)8,76122,17159,242(64,805)36,199(7,267)
Gain (loss), foreign currency transaction, before tax7,71116,048    
Other nonoperating income (expense)1,851641 (64,805)36,199(7,267)
Interest and debt expense    (11)(12)(20)
Other undisclosed income from continuing operations before equity method investments, income taxes   43   
Income (loss) from continuing operations before equity method investments, income taxes:(25,265)(12,700)25,010(93,861)4,659(34,927)
Other undisclosed income (loss) from continuing operations before income taxes   (43)111220
Income (loss) from continuing operations before income taxes:(25,265)(12,700)24,967(93,850)4,671(34,907)
Income tax expense (138)(203)    
Income (loss) from continuing operations:(25,403)(12,903)24,967(93,850)4,671(34,907)
Income (loss) before gain (loss) on sale of properties:(93,850)4,671(34,907)
Net income (loss):(25,403)(12,903)24,967(93,850)4,671(34,907)
Net income attributable to noncontrolling interest121177    
Other undisclosed net income attributable to parent   328   
Net income (loss) available to common stockholders, diluted:(25,282)(12,726)25,295(93,850)4,671(34,907)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(25,403)(12,903)24,967(93,850)4,671(34,907)
Other comprehensive income (loss)(20,425)(33,718) 9,0897,791(333)
Other undisclosed comprehensive income (loss)   26,165(18,178)(15,582)666
Comprehensive income (loss):(45,828)(46,621)51,132(102,939)(3,120)(34,574)
Comprehensive income, net of tax, attributable to noncontrolling interest121177    
Other undisclosed comprehensive income, net of tax, attributable to parent   328   
Comprehensive income (loss), net of tax, attributable to parent:(45,707)(46,444)51,460(102,939)(3,120)(34,574)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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