Water purifier Ekopak warns of possible liquidity shortages
© RR
As a precaution, Water purification company Ekopak has removed the turnover figures for the controversial hydropower contract from the results. The company announced this on Wednesday. Investors send the share more than 10 percent lower on the stock exchange shortly after opening.
The company has been sailing in turbulent water in recent weeks. After all, questions arose with the realization of hydropower, an important project that is important to the company to recycle waste water into cooling water for the port of Antwerp. Ekopak therefore removes the figures of hydropower “after a thorough investigation of all factors for the sake of caution” now from the results of 2024 and postponing them. This means that the turnover for 2024 is adjusted from 55.5 million euros to 47.6 million euros. The loss explores from -7 to -12.2 million euros.
The company says it has sufficient liquidity. But it does warn that in certain scenarios – such as reduced one -off income or extra growth of water services that require pre -financing – the liquidity buffers can decrease and in some cases even a liquidity deficit can arise.
Coucke
« In these scenarios there may be material uncertainty about the capacity of Ekopak to continue on current affairs, » said the company of which entrepreneur Marc Coucke is the most important shareholder. According to the Ekopak website, his investment company Alychlo maintains 42.47 percent of the shares.
The Board of Directors investigates initiatives to strengthen the balance. Possible measures include efficiency improvements and optimization of working capital needs, obtaining extra working capital lines and investigating additional financing options. Management is also strengthened, it sounds.
The trade in the Ekopak share on the Brussels stock exchange was suspended since Monday. Trade was resumed at 9 a.m. The share lost more than 11 percent just after 9 hours.
