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
Latest12/06/2017

Signing of the Marseilles project

Fact

Following the positive results of the technical and commercial studies (since the MoU in September 2016), Ecoslops has signed an agreement with Total to build a micro-refinery at La Mède, near Marseilles.

Construction should start in Q2 18 and the plant should become operational by the end of 2018.


Analysis

Ecoslops will build and operate the unit, hence focusing on its core competences; Total will supply services and the utilities.

The agreement confirms the attractiveness of Ecoslops’ solution to ports willing to enhance the commercial proposition of their residue collection services.
The project also highlights Ecoslops’ ability to build capacity in strategic locations, Marseilles being France’s largest port.

The announcement is in line with the business plan and points to the group’s solid project management capabilities.

The effective roll-out of the second micro-refinery should buttress Ecoslops’ track record and enhance its business development attractiveness.


Impact

The announcement confirms our estimates.


Target
Upside 114%
Price (€) 11.15
Market Cap (€M) 49.2
Perf. 1W: -5.91%
Perf. 1M: 2.76%
Perf. 3M: 54.9%
Perf Ytd: -2.19%
10 day relative perf. to stoxx600: -4.49%
20 day relative perf. to stoxx600: 5.59%
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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