EMEA News
Ecoslops Upbeat on Half-year Results
French used oil recovery firm Ecoslops has taken an upbeat stance on its first half-year results released Wednesday.
The company, which turns oil used by ships into viable bunker fuel, attributed losses to centralised technical, development and general management costs. Its individual production units were profitable, it said.
Ecoslops' Portuguese plant in Sines showed EBITDA (earnings before interest, tax, depreciation and amortisation) of just under EUR 200,000 in the first half of 2018.
A shutdown of the unit in the first quarter contributed to lower group turnover overall (EUR2.9 million vs EUR2.9 million) but the company said technical improvements were made during the downtime.
Sales overall were down but were compensated by the higher prices for oil products.
The company said its planned Marseilles production unit should be operational by the end of next year while a unit at the Belgian port of
Antwerp is under consideration.
In addition, the company is pursuing its vision of mini-production units in more isolated ports.
