Today techs A primary half of 2022 marked by the

today techs

Paris the September 21 202219h30Ecoslops, today techs the cleantech that brings the oil in L’financial system flyer, announcement ses outcomes unaudited for the primary half of the present fiscal 12 months, arrested as of June 30, 2022 by the Board of Administrators throughout its assembly on September 21 2022.

  • Turnover ofe 8,9M€up 188%
  • EBITDA* Groupe optimistic of +0.5M€ and +€1.2 million excluding the Marseille unit within the ramp-up part.
  • In a good vitality market, relevance from enterprise mannequin, greater than ever tailored to the wants of indépendance energetic and low-carbon manufacturing

Faits marquants operational for the primary half of 2022

  • Doubling of the turnover of the Sines unit in Portugal at €6.8 million with a file EBITDA of €2.4 million, i.e. 35%
  • Continuation of the ramp-up of the Marseille unit, entry into manufacturing fin 2021which achieved a turnover of €1.9 million over the half-year
  • Completion on first semester building (for supply in Cameroon) of the primary Scarabox, modular waste oil therapy unit

Depend of outcomes consolidated as of June 30, 2022 (one okay€) – Analytical presentation**

(Primarily based on unaudited accounts)

30/06/2022 30/06/2021
in €’000 CA Gross margin CA Gross margin
today techs ; “>
Refined merchandise 7 531 2 022
Scarabox 266 0
Port providers 1 105 1 073
Whole CA / Marge brute 8 902 5 538 3 095 2 045
Different revenue/bills 74 315
Employees prices -1 781 -1 791
Expenses externes -3 174 -1 821
Impôts & taxes -119 -17
EBITDA 538 -1 269
Depreciation&Provisions -1 377 -696
Backside line -640 -837
Firm tax 162 216
Internet revenue -1 317 -2 586
Group share -997 -2 502

Refined merchandise gross sales rose sharply, rising from €2.0 million in 2021 to €7.5 million in 2022, a rise of 272%. This development breaks down as follows:

  • Sines unit in Portugal +179%
  • Marseille unit (entry into the scope of exercise): + 93%

Exercise on the Sines unit was notably good, with Refined Merchandise gross sales of €5.6 million, which benefited from a quantity impact of +53% and a value/combine impact of 83% (of which 78% linked to the rise in Brent and the $).

With regard to the Marseille unit (75% owned by Ecoslops and 25% by TotalEnergies), it needs to be famous that it was delivered in July 2021 and that it entered into manufacturing on the finish of 2021. With out comparable foundation at first half of 2021, the unit produced on the 1is semester 2022 3,075 tons and offered 3,300, representing a turnover of €1.9 million. The provision circuits and the event of the client portfolio are actually nicely established and can allow the unit to proceed to ramp up.

The gross margin fee for the Refined Merchandise enterprise additionally elevated, from 55% within the first half of 2021 to 60% within the first half of 2022.

Lastly, the development of the primary Scarabox (to Kribi in Cameroon, on behalf of the corporate Valtech Vitality) was accomplished within the first half of 2022, making it potential to acknowledge €0.3 million in turnover (100% progress Vs 93% as of December 31, 2021). The unit is able to be transported on the finish of September 2022, pending the top of the combination work carried out by the corporate Valtech Vitality on its working web site.

With regard to structural prices, personnel prices are secure at €1.8 million whereas exterior prices have elevated by €1.4 million, of which €1.3 million is attributable to the entry into operation of the unit from Marseille. For a similar purpose, depreciation costs doubled in comparison with 2021.

On the power of those parts, the group recorded a rise in its EBITDA of €1.8 million, which rose from -€1.3 million at June 30, 2021 to €0.5 million at June 30, 2022 and breaks down as follows:

in €’000 30/06/2021 30/06/2022 Variance
Ecoslops Portugal 110 2 359 2 249
Seat payment -1 178 -1 199 -21
Fixed perimeter -1 068 1 160 2 228
Ecoslops Provence -201 -622 -421
Whole -1 269 538 1 807

The monetary outcome quantities to -0.7 M€, of which 0.5 M€ corresponds to curiosity provisioned on the EIB mortgage.

Company tax represents revenue of €0.2 million and primarily breaks down into tax revenue of €0.2 million referring to the analysis tax credit score.

Monetary scenario et cashflows

As of June 30, 2022, the Group has practically €6.3 million in money, on the identical stage as money as of December 31, 2021 and internet debt of €22.7 million (vs. €22.6 million as of December 31, 2021) . The change in money breaks down as follows:

in €’000 30/06/2022
today techs border-right: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; “>Internet revenue of consolidated firms (1 317)
Depreciation & Provisions 1 377
Subsidy transferred to revenue or loss (63)
Change in deferred tax belongings (75)
Change in deferred tax liabilities 28
today techs left ; vertical-align: middle; border-right: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; “>Self-financing capability (50)
Change in WCR Exercise 1 915
Money Move – Exercise 1 865
Acquisition of fastened belongings (450)
Change in WCR Investments (315)
today techs left ; vertical-align: middle; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; “>Fairness funding (600)
Money movement – Investments (1 365)
Funding grant 838
TotalEnergies mortgage – Ecoslops Provence 458
Change in financial institution loans (565)
Monetary pursuits (1 234)
Money movement – Financing (503)
Whole -3

Working money movement was +€1.9m because of a optimistic WCR variation of the identical quantity (linked particularly to the receipt in January 2022 of the primary cost linked to the sale of the Scarabox in Cameroon).

Money movement linked to investments quantities to -€1.4 million, and consists of, along with the recurring investments linked to the 2 P2R items, €0.6 million from the acquisition of a stake within the capital of the corporate Valtech Vitality.

Lastly, financing-related transactions resulted in a internet disbursement of €0.5 million, together with €1.2 million in curiosity paid on loans (primarily the EIB) and €0.8 million in advances on grants. Concerning the latter, it needs to be famous that the Koleoptech subsidiary was the recipient of an funding subsidy of €3.4 million, below an AAP (“Attraction for Venture”) launched by the State in June 2021. , for the industrialization of the Scarabox. Originally of 2022, Koleoptech acquired an advance of 25% of this subsidy. On the time limit of the half-year accounts, this funding program remains to be on the draft stage, topic to modifications and changes made vital by operational realities. Because of this, and so as to not create any distortion within the calculation of the group’s internet debt, this quantity has been recorded below miscellaneous monetary debt.

Developments

The group targeted its efforts through the semester on the venture P2R of Antwerp, positioned on the location of a lately closed refinery belonging to the VTTI/VITOL group.

As well as, discussions are actively persevering with with the Suez Canal Authority with a view to putting in a PRF (Port Reception Facility) and a Scarabox. The holding of COP 27 in November 2022 in Egypt is a driving power within the discussions.

Re Scarabox, it absolutely meets the wants of many growing international locations and the beginning of manufacturing of the primary unit in Cameroon would be the set off for brand new orders. Signal of the relevance of the Scarabox in these international locations searching for environmental and vitality options, Valtech Vitality signed through the semester a contract for the restoration of used oils within the community of TotalEnergies Cameroon service stations.

Views

For the Sines and Marseille items, the group maintains its manufacturing forecasts for the 12 months 2022 of 25,000 and 10,000 tonnes respectively, which when it comes to profitability, within the present market context, ought to lead to a second half according to that of the primary semester.

*: EBITDA = Working revenue earlier than depreciation and provisions

**: The half-year report on the consolidated accounts is obtainable within the Finance part at https://www.ecoslops.com

A PROPOS D’ECOSLOPS
Ecoslops is listed on Euronext Development in Paris
ISIN code: FR0011490648 – Mnemonic: ALESA / PEA-PME eligible.
Investor relations contact: information.esa@ecoslops.com – +33 (0)1 83 64 47 43

Ecoslops brings oil into the round financial system via progressive know-how, producing gasoline and light-weight bitumen from oil residues. The answer proposed by Ecoslops relies on a novel industrial course of for micro-refining these residues to rework them into 2nd era industrial merchandise assembly worldwide requirements. Ecoslops provides port infrastructures, waste collectors and shipowners a cheap and extra environmentally pleasant answer.
www.ecoslops.com

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