Ecoslops (ALESA) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 was €6.0M, down 2% year-over-year, with refined products declining 8% but port services up 16%.

• Gross margin remained stable at 59.2%.

• EBITDA turned slightly negative at -€57k versus +€310k in H1 2024, mainly due to higher maintenance and tax costs.

• Net loss was -€991k, nearly unchanged from -€1,019k a year earlier.

Financial highlights

• Refined products revenue fell to €4.36M (-8%), while port services rose to €1.64M (+16%).

• Gross margin rate was 59.2%, nearly flat year-over-year.

• Operating cash flow was positive at €0.83M, driven by working capital improvements.

• Net cash at period end was €5.3M, with net debt stable at €12M.

• Personnel and external charges increased, with total structural costs rising to €3.6M.

Outlook and guidance

• Focus remains on renewing the Sines port concession, securing medium-term supply, and deploying Scarabox® units in Africa.

• The group is navigating a volatile oil market and prioritizing execution of its strategic plan.