Ecoslops Reports Improved Results for H1 2024

Paris, 26 September 2024 – Ecoslops, a cleantech company integrating oil into the circular economy, has released its unaudited results for the first half of 2024, ending 30 June 2024. Approved by the Board of Directors, the results show significant financial improvements.

The company completed the disposal of its Ecoslops Provence subsidiary to TotalEnergies in February 2024. Consequently, the financial data is presented on a comparable basis, excluding the disposed subsidiary.

For H1 2024, Ecoslops reported a 30% increase in like-for-like sales, reaching €6.2 million. EBITDA turned positive, at €0.3 million, an improvement of €0.6 million compared to H1 2023. The gross margin rate decreased slightly by six points, affected by swap contracts and higher sea freight costs.

The group's net financial result showed a loss of €0.5 million due to interest on borrowings. An exceptional loss of €0.2 million was related to restructuring costs. The balance sheet shows a €6.1 million reduction in net debt by increasing cash reserves and reducing gross debt.

Going forward, Ecoslops aims to renegotiate EIB debt, renew the concession in the Port of Sines, secure medium-term supplies to the Sines plant, and deploy Scarabox® in new markets.