2Q25 INTERIM FINANCIAL REPORT

01 Sep 2025 07:00 CEST

As required by para 3.4.4 Interim Reports of ABM Rules, Okechamp Global B.V is
disclosing in the attachment its Condensed Interim Financial Statements for the
6 months ended 30.06.2025.

Significant events:
1. In the first six months total sales reached EUR 93.9 million, marking a 2.4%
increase from the previous year of EUR 91.7 million.
2. EBITDA (earnings before interest, tax, depreciation, and amortization), was
EUR 1.3 million, reflecting a decrease of EUR -12.2 million compared to the
previous year (mainly due to other operating income of EUR 10.8 million in the
previous year, from a sale-leaseback transaction).
3. In the first two quarters of 2025 The Company started to implement its
repositioning strategy in the private labels market segment incl. a gradual
increase of prices to improve its profit margins.
4. Gross Margin for the two quarters increased from EUR 31.7 million to EUR 32.7
million (+3% YoY). Operational costs rose from EUR 32.9 million to EUR 35.0
million (+7% YoY), thus reflecting only partially the adjustment of fixed costs
to the new production structure and product-mix.
5. Operating Profit (EBIT) decreased with EUR -12.0 million, from EUR 9.7
million to EUR -2.3 million YoY.
6. Net result after taxes (loss) decreased from EUR 3.8 million for 2Q24 to EUR
-6.2 million for 2Q25.
7. Total assets on 30 June 2025 of EUR 141.0 million were EUR -7.2 million lower
than at 31 December 2024, which implies a decrease of 5% for the quarter.
8. The equity ratio was 26% at 30 June 2025, compared to 16% at 31 December
2024.

Significant liquidity risk in Okechamp S.A. and cash level in the Company under
the required liquidity threshold:
1. The Company's management notes that the liquidity at its subsidiary, Okechamp
S.A., deteriorated significantly in the first half of the year. In the Interim
Financial Statements, the management presented liquidity risk factors and the
actions they are taking to counteract the effects of this risk.
2. Furthermore, in Note 1 to the Interim Financial Statements “Subsequent
events”, the management presented events that occurred after the balance sheet
date, from June 30, 2025, to August 29, 2025, and which led to cash level
falling below the required limit.
3. Okechamp Global B.V. is currently under the required liquidity threshold in
relation to its outstanding bonds (as of 14 August 2025 until 30 August 2025),
and while a remedy period is currently in effect, it is expected that this
situation will continue.
4. The Management Board of Okechamp Global B.V. is still evaluating the legal
and financial impact of these facts on Okechamp Global B.V.’s financial standing
and what actions should be taken aimed at ensuring the continuity of operations,
in the interest of all of its stakeholders, including creditors.


For inquiries, please contact: okechamp.global@okechamp.eu
SJM

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654343_OKEGLOB 2025-2Q-FS-20250831 SIGNED.pdf