Report
Laurent Wilk

Un projet prometteur mais survalorisé - VENTE - OC 12,4€

La société utilise une technologie qui lui permet de produire des carburants marins à partir de résidus de fret pétrolier appelés « slops ». Le marché du recyclage des slops est amené à croître rapidement et régulièrement grâce au développement du commerce maritime et à une législation de plus en plus contraignante. Pour autant, il nous semble que la récente cotation s’est réalisée sur des anticipations qui nous apparaissent trop élevées au regard des risques encourus et notamment du fait qu’Ecoslops ne détient pas le brevet qu’elle utilise. Nous initions la valeur à VENTE avec un objectif de cours de 12,4€ (-27%).
Underlying
Ecoslops SA

Ecoslops SA. Ecoslops SA is a France-based company principally engaged in the converting pertroleum residues from shipping (slops and sludge) in new marine fuels recycled. The Company offers seaports, residues collectors, ship-owners and bunker suppliers with a technology to recycle oily waste of ships. Ecoslops SA is active in promoting the development of the P2R unit by its incorporation in a more global plant: Oil Waste Processing Plant (OW2P). The OW2P technology combines a refining petroleum process (P2R) with appropriate clean water. The Company recycles the waste in order to be used in electricity production and steam production among others. The Company's fuel production is located in the port of Sines, Portugal.

Provider
Invest Securities
Invest Securities

Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.

Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.

Analysts
Laurent Wilk

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