The Management Board of Orzeł Biały S.A. (hereinafter referred to as the “Company”) informs that today it has become aware of the suspension by the Provincial Inspectorate for Environmental Protection in Katowice (hereinafter referred to as the “WIOŚ”) of the waste collection activities of one of the Company’s significant waste recipients (hereinafter referred to as the “Recipient”). The suspension of operations is related to irregularities in waste management. In connection with the above, the WIOŚ is conducting further investigations into the resulting irregularities.
In view of the situation, the Company has decided to cease further cooperation with the Recipient until the proceedings are completed. The Company is actively looking for an alternative recipient of waste.
In the Company’s opinion, there is a significant risk associated with the negative impact on the environment of waste stored inappropriately, so the Company has taken measures to secure and relocate some of the waste located at the Recipient’s landfills, which are the result of the Company’s production activities. The actions taken will have an impact on the Company’s future financial results, but as of the date of this report it is not possible to clearly determine the scale of this impact.
In addition, the cessation of cooperation with the Recipient, is directly related to the loss of the possibility of obtaining notifications on transboundary movement of waste, which will consequently affect the structure of the basic material for production, i.e. battery scrap, and may result in a temporary reduction in production capacity as a result of temporary reduction or cessation of import of the basic raw material.
In view of the situation, the Company’s Management Board, having analyzed all available information, decided to make the above information public. As of the date of publication of this report, due to the high dynamics of the changes, Orzeł Biały S.A. is not in a position to unequivocally determine the scale of the impact of the aforementioned risk on the Company’s financial results and operations.
The Company’s Management Board is constantly monitoring the current situation together with its legal advisors. The Company’s Management Board cannot exclude the creation of a specific provision related to the emergence of a new risk. As of the date of publication of this report, the Company is unable to provide an estimate of the impact of the new risk on future financial results.
In the event of any new events or significant facts, the Company’s Management Board will provide information in a manner consistent with generally applicable laws.
legal basis:
Article 17 (1) MAR – confidential information.