AlphaValue Corporate Services Fundamental Analysis FR
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Ecoslops

CR
Bloomberg   ALESA FP
Other Energies  /  France  Web Site   |   Investors Relation
The cleantech making oil residues green
Latest05/07/2017

Doubling Sines' volumes; new mini-P2R concept

Fact

Production at Sines was 12,200 tons in H1 17, doubling from last year.
The volume of sales stood at 9,700 tons, vs. 3,700 tons in H1 16. The product mix improved with an increase in value-added products.


Analysis

The improvements highlight the industrial viability of the project.

Ecoslops also announced that it has started studies for the “mini-P2R,” a unit designed to process 4-8,000 tons per year (the P2R has a capacity of 30,000 tons or more), targeting medium-sized ports. This new segment increases Ecoslops’ addressable market, profiting from the P2R know-how. The mini-P2R is likely to be less capital intensive and contribute a regular stream of revenues from the sale of equipment and services. Ecoslops’ team is already working on a number of commercial opportunities.


Impact

We confirm our expectations of 2017 production at Sines at 30,000 tons.


Target
Upside 82.8%
Price (€) 12.9
Market Cap (€M) 56.9
Perf. 1W: 3.61%
Perf. 1M: 13.2%
Perf. 3M: 10.7%
Perf Ytd: 13.2%
10 day relative perf. to stoxx600: 3.94%
20 day relative perf. to stoxx600: 12.0%
Updates

06 Apr 18 Earnings/sales releases
Lighter, greener, richer

01 Feb 18 Earnings/sales releases
2017 brought strong business development and...

30 Oct 17 EPS change
Integrating the capital increase

28 Sep 17 Earnings/sales releases
Positive EBITDA at Sines

23 May 17 EPS change
H2 16 update

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