Ebusco finalizes FY2024 audit, reports ongoing liquidity constraints and outlines board renewal - Sustainable Bus
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Ebusco finalizes FY2024 audit, reports ongoing liquidity constraints and outlines board renewal - Sustainable Bus
"The external auditor has issued a disclaimer of opinion on the FY2024 accounts."
"An updated version of the FY2024 Annual Report has been published with corrected figures and an updated going concern statement, noting ongoing liquidity challenges."
"Despite all progress, efforts and the underlying sound market fundamentals, the company acknowledges that its liquidity constraints continue to persist and that it continues to face various operational and financial challenges, which result in a material uncertainty regarding the Company's ability to continue as a going concern"
"The company continues to implement measures to stabilize operations, including a €9 million working capital facility from a Chinese partner-44% of which has been drawn-and a framework agreement with a Chinese contract manufacturer to localize procurement and financing for the Ebusco 3.0."
Ebusco finalised the audit of its FY2024 financial statements and convened its Annual General Meeting for 16 December 2025. The external auditor issued a disclaimer of opinion while the audit identified reporting errors but showed no impact on equity or annual results. An updated FY2024 Annual Report was published with corrected figures and an updated going concern statement noting ongoing liquidity challenges. Shareholders will vote on appointing Roel Nagelmaeker as CFO, reappointing Peter Bijvelds and updating the Supervisory Board with departures and proposed additions of Mariëtte Doornekamp, Olaf de Bruijn and Rob Engelschman. The company reports persistent liquidity constraints, an ongoing CEO search following the June 2025 resignation, and stabilisation measures including a €9 million working capital facility (44% drawn) and a procurement and financing framework with a Chinese contract manufacturer for Ebusco 3.0.
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