Ecoslops SA

Earnings Release • Jul 12, 2023

REVENUES FOR THE FIRST HALF OF 2023

Ecoslops generated revenues of €5.5 million in the first half of 2023, compared with €8.9 million in the first half of 2022, down 38%.

In €M	H1 2021	H1 2022	Var €M	Var %
Ecoslops Portugal	6,8	4,7	-2,0	- 30%
Ecoslops Provence	1,9	0,8	-1,1	- 59%
Scarabox	0,3	0,0	-0,3	- 100%
Total	8,9	5,5	-3,4	- 38%

Paris, April 12th 2023

Compared with the first half of 2022, which was characterized by a high base effect (oil prices rise following the start of the conflict in Ukraine), revenues for the first half of 2023 were down 23% due to the price effect (Brent fell from €96/bbl to €74/bbl) and 15% due to the volume effect.

For the Sines unit in Portugal, sales volume amounts to 7,989 tonnes (versus 10,395 tonnes in 2022). This decline is mainly due to the shift in the maintenance schedule between 2022 and 2023.

The Marseille plant sold 2,046 tonnes (1,401 tonnes produced), compared with 3,300 tonnes in the first half of 2022. As already communicated, the ongoing adaptation and improvement work carried out in Q1 2023, to optimize the treatment of certain local sources of fossil waste (more land-based than sea-based), penalized business for the half-year.

Perspectives

In the Refined Products activity, the Group forecasts full-year production of 20-22,000 tonnes for the Sines plant and 8-10,000 tonnes for the Marseille plant.

Cash position

The Group's cash position stands at €5.5 million at June 30, 2023, of which €4.7 million are available (taking into account a €0.8 million conditional advance on investment subsidies). The Group is also continuing discussions on the restructuring of its debt, with the aim of reaching an agreement before the end of the year.

Financial Agenda

Publication of half-yearly results: September 26, 2023

ABOUT ECOSLOPS

Ecoslops is listed on Euronext Growth in Paris Code ISIN : FR0011490648 - Ticker : ALESA / PEA-PME eligible Investor Relations : ir@ecoslops.com - +33 (0)1 83 64 47 43

Ecoslops is the cleantech that brings oil into the circular economy thanks to an innovative technology allowing the company to upgrade oil residues and used lub oil into new fuels and light bitumen. The solution proposed by Ecoslops is based on a unique micro-refining industrial process that transforms these residues into commercial products that meet international standards. Ecoslops offers an economic and more ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants.