Ecoslops SA

Ecoslops SA is a France-based company principally engaged in the converting pertroleum residues from shipping (slops and sludge) in new marine fuels recycled. The Company offers seaports, residues collectors, ship-owners and bunker suppliers with a technology to recycle oily waste of ships. Ecoslops SA is active in promoting the development of the P2R unit by its incorporation in a more global plant: Oil Waste Processing Plant (OW2P). The OW2P technology combines a refining petroleum process (P2R) with appropriate clean water. The Company recycles the waste in order to be used in electricity production and steam production among others. The Company's fuel production is located in the port of Sines, Portugal.
  • TickerA14NWZ
  • ISINFR0011490648
  • ExchangeEuronext Paris
  • SectorOil Equipment, Services & Distribution
  • CountryFrance

Analysts

A clearer roadmap ahead (Ecoslops)

A clearer roadmap ahead EPS CHANGE CHANGE IN TARGET PRICE€ 24.8 vs 24.3 +1.97% The target price saw a slight improvement given that the lower valuation on a DCF basis (mainly explained by a revision on the expected profitability of the refining units as well as a 6-month delay to the Antwerp entry into operation), was more than offset by an increased valuation on a NAV/SOTP basis; since the need for a capital increase in the near future has been discarded thanks to the €18m funding approved by the EIB earlier this year. CHANGE IN EPS2019 : € -0.20 vs 0.04 ns 2020 : € -0.26 vs 0.52 ns EPS es...

Pierre-Yves Gauthier

La Mède Complex project gains steam with Total now on board

La Mède Complex project gains steam with Total now on board LATEST Ecoslops Provence is currently building a slops refining unit to regenerate oil residues at Total’s La Mède complex in the port of Marseille. As part of the agreement, Ecoslops SA announced that Total will acquire a 25% interest in Ecoslops Provence, the affiliate in charge of the project. FACT Ecoslops Provence is building a slops refining unit to regenerate oil residues at Total’s La Mède complex. The new facility with a nominal processing capacity of 130t/day is scheduled to begin operations in late 2019 and supply Tota...

Pierre-Yves Gauthier

Avoided carbon gains speed

Avoided carbon gains speed FINANCING ISSUE Ecoslops’ success in processing oil wastes for a profit is gaining momentum with a full financing of its second unit due in early 2020. FACT Ecoslops posted a raft of positive communiqués somewhat ahead of its FY 2018 release. These include: - Solid trading in 2018 with sales of the Portuguese unit up 30% (excluding sales at no profit as part of a utility contract) - Ample financing (up to €18m) from EIB to build the second refining unit in Marseilles - Essentially no net debt at the close of 2018 - The final go from regulatory authorities to lau...

A clearer roadmap ahead (Ecoslops)

A clearer roadmap ahead EPS CHANGE CHANGE IN TARGET PRICE€ 24.8 vs 24.3 +1.97% The target price saw a slight improvement given that the lower valuation on a DCF basis (mainly explained by a revision on the expected profitability of the refining units as well as a 6-month delay to the Antwerp entry into operation), was more than offset by an increased valuation on a NAV/SOTP basis; since the need for a capital increase in the near future has been discarded thanks to the €18m funding approved by the EIB earlier this year. CHANGE IN EPS2019 : € -0.20 vs 0.04 ns 2020 : € -0.26 vs 0.52 ns EPS es...

Pierre-Yves Gauthier

La Mède Complex project gains steam with Total now on board

La Mède Complex project gains steam with Total now on board LATEST Ecoslops Provence is currently building a slops refining unit to regenerate oil residues at Total’s La Mède complex in the port of Marseille. As part of the agreement, Ecoslops SA announced that Total will acquire a 25% interest in Ecoslops Provence, the affiliate in charge of the project. FACT Ecoslops Provence is building a slops refining unit to regenerate oil residues at Total’s La Mède complex. The new facility with a nominal processing capacity of 130t/day is scheduled to begin operations in late 2019 and supply Tota...

Pierre-Yves Gauthier

Avoided carbon gains speed

Avoided carbon gains speed FINANCING ISSUE Ecoslops’ success in processing oil wastes for a profit is gaining momentum with a full financing of its second unit due in early 2020. FACT Ecoslops posted a raft of positive communiqués somewhat ahead of its FY 2018 release. These include: - Solid trading in 2018 with sales of the Portuguese unit up 30% (excluding sales at no profit as part of a utility contract) - Ample financing (up to €18m) from EIB to build the second refining unit in Marseilles - Essentially no net debt at the close of 2018 - The final go from regulatory authorities to lau...

Pierre-Yves Gauthier

Solid Sines refinery performance (Ecoslops)

Solid Sines refinery performance EPS CHANGE CHANGE IN TARGET PRICE€ 24.0 vs 25.0 -3.82% The target price hardly changes as it is based on long-term intrinsic valuation metrics. CHANGE IN EPS2018 : € -0.39 vs 0.03 ns 2019 : € 0.04 vs 0.23 -81.5% The strong underlying performance of H1 18, and presumably H2, is largely absorbed by rising opex as the group invests in new sites and new technology. Our previous sales estimates were too optimistic as well, forcing a significant correction. 2019 is also negatively impacted by higher capex and a six month push-back on the delivery of the second pro...

Pierre-Yves Gauthier

Strong underlying operational delivery

Strong underlying operational delivery EARNINGS/SALES RELEASES Ecoslops’ H1 18 release highlights a strong performance of its existing refining unit after upgrading, an inevitable rise in opex and c. 6 months push-back on the opening of the second unit in Marseille. We have trimmed down our earlier unrealistic 2018 expectations. This has a limited impact on our valuation. FACT Ecoslops’ H1 earnings allow for the Q1 closure to upgrade its only current production site. The group posts a net loss of €-1.4m vs. €-0.6m. Its gross cash position is €7m with net cash at c.€4m. ANALYSIS Ecosl...

1 director sold

A director at Ecoslops Sa sold 22,498 shares at 12.100EUR and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Proxy Report - 14/06/2018

Le contenu des documents relatifs à l’Assemblée Générale du 23 mai 2018 présente des manquements significatifs. En termes de gouvernance, Proxinvest s’opposera à l’ensemble des renouvellements des membres du Conseil (résolutions 5 à 9), en raison des éléments suivants : - Aucune femme au Conseil- Durée de mandat d’un administrateur de 6 ans- Réunion des fonctions de Président et Directeur Général- Taux d’indépendance du Conseil très faible (11%) Par ailleurs, il est recommandé aux actionnaires de s'opposer à l'ensemble des autorisations financières maintenues en période d'offre publique en ...

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