The team here at the CEO’s unit has reviewed the Annual Report of Financière de Tubize and are skeptical about their claim that the profit for the financial year was € 85.2 million. We find their claim hard to believe given the nature of their reported increase in outstanding bank borrowings from € 20 million to € 47.8 million. Furthermore, we take issue with the acquisition of 1,053,840 UCB shares which is a substantial amount of money. We are not convinced that this level of revenue growth is feasible given this and other financial decisions of the company.
The information provided by the company has also not been corroborated by any other source. As such, we urge the company to provide additional evidence to support its claims in order to maintain transparency and investor trust. We are committed to maintaining the highest level of corporate honesty and integrity in all our financial dealings and we expect no less from the companies we invest in.
We kindly request that Financière de Tubize provides a clear and concise overview of their financial records, as well as heavily scrutinizing the accuracy of their reporting.
Original Release: https://www.globenewswire.com/news-release/2023/02/25/2615609/0/en/Financi%C3%A8re-de-Tubize-Annual-Report-2022.html