Paris, March 11, 2024
• Positive structural impacts in terms of financial solidity post sale of Ecoslops Provence
• Strong development prospects for the Group refocused on its Portuguese subsidiary and Scarabox®
• Governance in line with the Group’s challenges
After the effective sale of its subsidiary Ecoslops Provence to the TotalEnergies Group, Ecoslops SA wishes to review the reasons and consequences of this decision as well as the Group’s new strategy for the years to come.
History:
It is important to remember that Ecoslops was created in 2009 and designed, built and launched its first recycling unit in Portugal between 2012 and 2015. This global innovation, making it possible to recycle 99% of maritime oil waste into new products oil companies, was a success after only 18 months of operations thanks to the rapid establishment of supply and sales networks for finished products. Since then, the Sines unit has recycled and produced 180,000 tonnes and generated an annual EBITDA of around €2.2M (except for 2020, the COVID year).
Ecoslops Provence:
It was not possible to duplicate this success on the second unit (Ecoslops Provence), inaugurated in 2021, due to an unfavorable development in local market conditions, in particular (…)
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