ECOSLOPS - 2018: A YEAR OF STRONG GROWTH IN ACTIVITY
14 Février 2019 - 07:23AM
· Sales of refined products: + 30%, representing
75% of the total
· 2018 sales up + 20% to € 7.3 million
· Portugal: robust profitability confirmed
· Marseilles under construction, Antwerp in instruction
· Mini-P2R: pilot delivered and being tested
· Cash of more than € 7 million at the end of 2018 and net debt
close to nil
PARIS, February 14, 2019 - Ecoslops reports on the
highlights of 2018.
Vincent Favier, CEO of Ecoslops, states:
"For two years now, our first unit in Sines has been profitable and
demonstrates technically, commercially and economically the merits
of our positioning. The 2018 turnover, € 7.3M against € 6.1M in
2017, is rising noticeably especially if reported to 9 months of
real activity. Indeed, the decision to modify the plant in the
first quarter to allow it to treat low flash point waste
represented a shortfall of 6000t, ie nearly € 2M of turnover.
Without this planned and useful shutdown, Sines would have
generated more than € 9M of turnover and produced more than
25.000t. The share of refined products now represents 75% of sales,
and diesel represents more than 50% of refined products' sales.
Profitability is equivalent to that of 2017 despite the stop of the
first quarter. In 2019, Sines aims to produce 25,000t (against
19,000t in 2018), the only expected stops being related to planned
maintenance.
Our Marseille plant has received all its
administrative authorizations, as well as firm financing from three
banks for € 6.5M and a zero interest loan from the PACA region.
Construction is ongoing and the opening is scheduled for late
2019.
Permit applications are underway for the Antwerp
plant, whose capacity will be twice that of Marseille or Sines
(60,000t/year). The opening is estimated for the end of 2020.
The Mini-P2R pilot is built, installed in Sines,
and trials have begun in January. They will accurately calibrate
the type of treatable residues and the actual yield. The process
remains based on vacuum distillation, the only technical
reprocessing method to obtain products compliant with international
standards. This new activity is likely to further accelerate the
group's growth by addressing the diffuse market of medium-sized
ports. It must be remembered that Ecoslops intends to rent or sell
this containerized equipments.
The balance sheet of the group was strongly
strengthened by :
-
the full realization of the commitments with
respect to IAPMEI, and consequently the waiving of € 3M of
repayable advances in favor of the Portuguese subsidiary (leaving
only € 2M to be repaid),
-
the signing of a financing agreement with the
European Investment Bank (EIB) for € 18M.
The EIB financing will replace the capital
required for future European projects. It will allow the company to
devote its current financial resources to new developments, without
appealing to its shareholders in the coming years. It is important
to note that the three units (Sines, Marseilles, Antwerp), will
have a total production capacity of 120,000t of refined products
with a potential of € 40M in turnover and € 10M in EBITDA, making
the group financially self-sufficient for subsequent units.
At the end of 2018, the group's cash position was
superior to € 7M. Net debt is close to 0. "
ABOUT
ECOSLOPS
Ecoslops is listed on Euronext Growth in Paris
Code ISIN : FR0011490648 - Ticker : ALESA / PEA-PME
eligible
Investor Relations : info.esa@ecoslops.com - 01 83 64 47 43
Ecoslops is the cleantech that brings oil into
circular economy thanks to an innovative technology allowing the
company to upgrade oil residues into new fuels and light bitumen.
The solution proposed by Ecoslops is based on a unique
micro-refining industrial process that transforms these residues
into commercial products that meet international standards.
Ecoslops offers an economic and ecological solution to port
infrastructure, waste collectors and ship-owners through its
processing plants.
www.ecoslops.com
PDF PR Ecoslops 2018
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ecoslops via Globenewswire
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