Ecoslops - 2019 Turnover and significant events
30 Janvier 2020 - 5:45PM
Ecoslops - 2019 Turnover and significant events
- The signing of an agreement
for the commissioning of the first Mini P2R in the port of Agadir,
Morocco
- 17% increase in
consolidated turnover in 2019 to €8.7 million
- Doubling of the teams
dedicated to the pipeline of new projects
- Secured financing for
future developments
Paris, 30 January 2020
Continuing the strong growth of previous years,
2019 has ended with further growth of 17% in activity, 22% of which
relates to the sale of refined products. In 2019, the
production of refined products by the Sinès plant in Portugal
reached its highest level ever at 25,800 tonnes, compared with
19,200 tonnes the previous year. This significant increase in
volume (+34%) has to a very large degree offset the drop in the
average price of Brent over the period (-12%).
Turnover in millions of euros* |
2019 |
2018 |
Change in € million |
Change in % |
Refined products |
6.69 |
5.46 |
1.23 |
+22% |
Port and other services |
2.01 |
1.99 |
0.02 |
+1% |
Total |
8.70 |
7.45 |
1.25 |
+17% |
*unaudited data
Concerning future developments, the year 2019
was marked by a significant strengthening of the group’s human and
financial resources.
Strengthening of the teams: Five
experienced team members have been recruited in R&D,
Construction, Operations and Finance. These recruits have doubled
the number of employees dedicated to new projects (Mini P2R,
Marseille, Antwerp etc.).
Strengthening of the financial structure: In
2019, Ecoslops signed a bank financing agreement worth €6.5 million
with BNP, HSBC and Banque Populaire Méditerranée for the Marseille
unit as well as €18 million in corporate financing from the
European Investment Bank, intended for Marseille, Antwerp and
R&D. This financing, totalling €24.5 million, was subject to an
initial drawdown of €5 million in 2019 and up to €11.5 million will
be drawn down in 2020.
Project pipeline:
Mini P2R: After the conclusive tests carried out
in 2019 on the pilot version, construction of the first industrial
unit has begun. An agreement was signed with the company Aqua
Flore, from the port of Agadir, Morocco, to commission it in the
second half of 2020. After a conclusive test phase, this agreement
will result in a sale or lease. This world first will serve as a
point of reference for the various identified prospects. The unit
will also have the ability to treat used oil, which is a
significant source of pollution in many countries due to
the lack of any economically viable technical solutions.
Marseille unit: Construction of this 30,000
tonnes/year unit is being supervised by a dedicated team in
collaboration with teams from the Total group, a 25% shareholder in
the Ecoslops Provence subsidiary. The assembly of the P2R unit is
currently under way and commissioning is anticipated for mid-2020.
The duration of the initiation phase will determine marketable
volumes in 2020.
Antwerp unit: Ecoslops Flanders, a wholly-owned
subsidiary, has been set up in Belgium. This subsidiary will
operate the unit with a production capacity of 60,000 tonnes/year.
The danger and environmental assessments required for the
construction permit and operating license have been launched
jointly with the VTTI group (Vitol), owner of the ATPC refinery in
Antwerp. The provisional schedule is as follows: obtain the permits
mid-2021, construction finalised and commissioning mid-2022.
Egypt: The feasibility study was submitted to
the Suez Canal authorities in November 2019. As a reminder, this
project initially provides for the installation of means of
collection (barge), reception and water/hydrocarbons separation
utilities. The next discussions will focus primarily on financing
this collection infrastructure, a prerequisite for the subsequent
installation of a P2R.In parallel, the group is in the pre-project
phase in areas of very high potential for the P2R, Asia in
particular, and is continuing to develop a portfolio of prospects
for the Mini P2R.
Cash position:As at 31 December 2019, the group
had cash of €5.9 million and gross debt was €13 million, which
gives us net debt of €7.1 million.
Next appointment:Publication of
the 2019 annual results on 30 March 2020 after market close.
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
- PR30jan2020_2019_ECOSLOPS_TURNOVER
Ecoslops (EU:ALESA)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Ecoslops (EU:ALESA)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024