PRESS RELEASE – REGULATED INFORMATION – INSIDE INFORMATION
After thoroughly examining all factors, the Board of Directors has decided, as a matter of prudence, to remove from the 2024 results the revenue recognition of the already realized part of the Waterkracht project. This decision has no cash impact and was taken in consultation with the auditor PWC.
The financial figures communicated on March 3, 2025 are reviewed and adjusted as follows:
* Unaudited, fully audited figures will be published, as scheduled, on April 11, 2025
Ekopak remains fully committed to the successful completion of the Waterkracht project. The associated revenues will be recognized in the future based on applicable IFRS regulations.
Meanwhile, the clarification Ekopak gave on March 24, 2025, regarding the status of the Waterkracht project was confirmed by external legal advice.
In addition, the Board of Directors believes that based on existing budgets and cash flow projections and taking into account existing financing facilities, Ekopak has sufficient liquidity to execute its strategy and stay on track. However, in certain scenarios (such as reduced one-time revenues, additional WaaS growth requiring pre-financing, etc.), the liquidity buffer may decrease and in some cases may even create a liquidity shortfall. In these scenarios, there may be material uncertainty about Ekopak’s ability to continue ongoing business.
The Board of Directors recognizes these risks and is actively exploring a range of initiatives to strengthen Ekopak’s balance sheet. Possible measures include efficiency improvements and optimization of working capital needs, obtaining additional working capital lines and exploring additional financing options.
As part of good corporate governance, Ekopak will further strengthen its internal control mechanisms to increase the effectiveness and reliability of its processes. The Board of Directors has decided to strengthen the management team in line with the company’s growth and will communicate this in due course.
About Ekopak
Ekopak is a Belgian company that markets circular water solutions. Ekopak’s solutions offer industrial clients the opportunity to significantly reduce their water consumption from the main network in a sustainable, dependable and cost-effective way. Ekopak therefore focuses on optimizing water consumption with modular water treatment units that convert off-grid water sources, such as rainwater, surface water and/or waste water into cleaner water that can be used and reused in clients’ industrial processes.
Ekopak offers its solutions on a global scale and operates worldwide with offices in Belgium, France, The Netherlands, Morrocco, the Philippines, Thailand, Mexico, Singapore and the US.
All Ekopak shares are listed on Euronext Brussels (ticker EKOP).