In its new perimeter, post the disposal of Ecoslops Provence, the Group’s 2024 turnover amounted to €11.5 million, up 11% on 2023

Activity of Ecoslops Portugal

Ecoslops Portugal turnover rose by 11%, from €10.3 million in 2023 to €11.5 million in 2024. Port Services grew by 15% to €2.7 million, while Refined Products sales rose to €8.8 million in 2024 from €7.9 million in 2023. This increase can be broken down into : +13% volume effect, -3% price effect (average Brent price having fallen from €76.1/bbl in 2023 to €73.8/bbl in 2024). Over the period, the unit produced 21,448 tonnes of refined products, compared with 20,071 tonnes in 2023, and sold 19,981 tonnes, compared with 17,693 tonnes the previous year.

By the end of 2024, Ecoslops Portugal had passed the milestone of 200,000 tonnes of petroleum waste recycled and transformed into new commercial products since it began operations in 2015. These new products benefit from the ISCC Plus label, synonymous with resource conservation and a reduced carbon footprint.

By 2025, Ecoslops Portugal expects to be producing 24,500 tonnes.

Cash position

At 31 December 2024, the Group had cash and cash equivalent of €6.6 million, of which €5.7 million was available (taking into account a €0.8 million conditional advance on investment subsidies), and net debt of €12.1 million (vs. €18.2 million at 31 December 2023).

Lastly, the Group is in the final phase of its debt restructuring discussions, and will be in a position to announce the outcome shortly.
Source: Ecoslops