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Europlasma: 2012 HY Results

BORDEAUX, France, October 30, 2012 /PRNewswire/ --

2012 HY Results

Consolidated results as at 30 June 2012

Continued investments

A decisive year

Confirmation of the CHO POWER MORCENX plant start in production

Europlasma's Board of Directors met on 29 October 2012 and authorised the release of the consolidated accounts for the half year ended 30/06/2012.

Revenue of EUR21.365m, -EUR4.396m vs 30/06/2011, the successful commissioning of the CHO Morcenx plant still being the event that will convert the projects portfolio into sales contracts within the Renewable Energy segment

EBITDA of -EUR1.786m, -EUR1.367m vs 30/06/2011

Operating result of -EUR3.596m, -EUR1.473m vs 30/06/2011, affected by unfavourable non-recurring factors within the Renewable Energy and Hazardous Waste segments

Net result, Group share of -EUR3.45m, -EUR1.089m vs 30/06/2011

Self-financing capacity of -EUR1.636m, -EUR1.704m vs 30/06/2011

Net investments of EUR5.493m compared to EUR9.325m over the 1st half of 2011, linked to the development of the renewable energy segment over the 2 periods

Net debt of EUR11.931m compared to EUR3.535m as at 31/12/2011

Commenting on these figures, Didier Pineau, Managing Director, said:

"The Europlasma Group has invested or secured investment for more than €50 million on its Morcenx site over the last two years; thus, €42m have been invested in CHO Morcenx, €7m in KIWI and €2m in the Inertam process.

These large investments illustrate the Group's ability to mobilise investors on its technologies and embody the industrial policy followed for several years.

In parallel, the Group has also expensed its share of financing together with the energy of its employees to implement the CHO Morcenx plants and the KIWI pilot. 2012 is a year devoted to the industrial development of the Renewable Energy segment and to the improvement of operational performances of the Hazardous Waste segment. While the financial performance of 2012 is reflective of these investments, we expect the positive impact on the operating results to be realised in 2013.

As such, Directors and management believe in a positive outlook: with respect to CHO Power, the plant has already started mid October and has produced several hundreds of MWh with a peak power of 6MW and the Group is still focused on its tune-up; what regards Inertam, the significant production improvements in terms of quantity and quality will be fully visible from 2013; regarding Europe Environnement, margins are recovering and the reorganisation measures are already beneficial; For KIWI, the prototype is now operational and initial results are encouraging.

The Board of Directors has initiated discussions regarding an increase in the Group's equity at all levels with the intention of giving it the means to fund for the latest development of CHO Morcenx and for the construction of new plants."

Activity and results

      In thousand euros (EUR
              '000)            30/06/2012  30/06/2011      Change
 
    Revenue                        21,365      25,760   -4,396   -17%
    EBITDA                         -1,786        -419   -1,367   326%
    Operating income               -3,596      -2,122   -1,473    69%
    Financial income                 -232        -183      -49    27%
    Net income                     -3,623      -2,516   -1,107    44%
    Net income, group share        -3,450      -2,362   -1,089    46%
    Earnings per share (in 
    euros/share)                    -0.22       -0.15    -0.07    44%
Source: Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

Turnover

The half-year 2012 consolidated turnover amounted to €21.365m, compared to €25.76m realised as at 30/06/2011. This overall reduction of €4.396m is explained by the drops in turnover recorded in the Renewable Energy and Air & Gas segments of respectively €1.162m and €4.027m, which were partially offset by the increased turnover achieved in the Hazardous Waste and Torch & Process segments of respectively €0.443m and €0.35m.

The renewable energy business recorded a turnover of €4.545m, representing 21% of the Group's turnover as at 30/06/2012 (stable compared with 30/06/2011). This revenue is linked to the EPC contract of the energy from waste and biomass plant at Morcenx, for which the completion rate was lower over the 1st half 2012 than over the first half 2011.

The Air & Gas activity contributed 57% of the 1st half year 2012 consolidated turnover, with revenues of €12.281m, compared to €16.308m at 30/06/2011 (63% of the consolidated turnover). The activity for the 1st half of 2012 was as steady as per the 1st half of 2011 what regards historical business, the change in the turnover being related to the Sharp/Air Liquide contract which ended in the second half of 2011. In addition, in order to achieve cost savings and enhance its competitiveness, Europe Environnement SA merged with its subsidiaries Protech'Air and Europ-Plast on respectively 01/07/2011 and 01/01/2012, their activities being continued within Europe Environnement.

The hazardous waste destruction activity grew by nearly 15% at 30/06/2012 compared to 30/06/2011 and contributed €3.594m of the consolidated turnover, reflecting a rise in the average price invoiced and in the volume of asbestos waste treated (1,834 tons treated as at 30/06/2012 versus 1,768 tons as at 30/06/2011). The commercial activity remained steady over the first half of 2012, with a 20% growth in the tonnage received in comparison with 30/06/2011.

Europlasma Torch & Process's activity generated a turnover of €944,000, compared to €594,000 at 30/06/2011; this was essentially in line with the status of the KNPP contract: at 30/06/2012, the majority of the equipment was being made, prior to the tests planned this winter on the Morcenx site. The after sales service provisions were also steady, in Japan in particular.

The Group continued its investments in the 3 major R&D projects of the Torch & Process segment: KIWI, ANR Turboplasma® and SESCO.

Operational performance

The operating result shows a loss of €3.596m at 30/06/2012, as opposed to €2.122m at 30/06/2011, linked mainly to the performances in the Hazardous Waste (-€1.284m vs -€1.279m at 30/06/2011) and Renewable Energy (-€1.905m vs -€34,000 at 30/06/2011) segments .

The Hazardous Waste plant performed better than in the first half of 2011, despite new technical issues encountered in the load preparation area. This performance improvement in the hazardous waste process is compensated by new costs arising from the future operations of the CHO Morcenx plant, personal costs mainly, ca. 20 employees having been recruited over the period. The significant investment finalised in late September 2012 in the load preparation aims to prevent incidents upstream of the process through a better incoming mix and to achieve significant performance improvements.

The operating losses recorded by the Renewable Energy segment are basically linked to the revision made on the Morcenx plant construction contract of the margin on completion: the scheduled date of handover of the plant by its client CHO Morcenx, initially set for the end of the first half-year, has been postponed until the second half of 2012 and the financial costs associated with this postponement have been recorded in the costs at completion of the EPC contract.

Other income increased by €2.518m to €5.743m at 30/06/2012 as a result of:

  • the increase in capitalised production, corresponding to the work undertaken by the Group on the CHO plant buildings in Morcenx, the KIWI research and development platform and the Inertam production tool;
  • the subsidies recognised in the profit and loss account as regards the hiring of the Morcenx CHO plant operating teams and the work in progress.

Staff expenses went up by 8% at 30/06/2012 compared to 30/06/2011, to €6.908m, following the recruitment effected for the operation of the CHO plant in Morcenx in particular.

The other non-recurring operating expenses and income at 30/06/2012 basically involved disposals of assets.

Net income

The tax income of €0.233m recorded at 30/06/2012 corresponds to a tax payable expense of €0.133m and a deferred tax income of €0.365m.

The share of profits in the equity-accounted companies amounts to a loss of €28t, which is broken down into a loss of €43t for CHO Morcenx and a profit of €15t for RHE America, as opposed to a loss of €97t at 30/06/2011 (of which €195t was a loss for CHO Morcenx and €19t was a profit for RHE America).

The share of minority interests in the net result at 30/06/2012 is a share of €0.173m of losses, as opposed to a share of €0.155m of losses at 30/06/2011.

The Group share of the net result corresponds to a loss of €3.45m compared to a loss of €2.362m achieved at 30/06/2011. The Renewable Energy (-€1.689m) and Hazardous Waste Destruction (-€1.354m) segments recorded the majority of the loss, due to the reasons previously listed.

The Group's Board of Directors and Morcenx's financial partner both renewed their trust in the Group and, in this respect:

  • a major investment was made after the half-year was closed to optimise the operation of the asbestos vitrification plant, especially in the load preparation;
  • as part of the renegotiations following the postponement of the plant handover date, the financial partner renewed its interest in the Group's technology and know-how by extending the exclusivity and territorial clauses over future projects.

Consolidated statement of financial position and cash flows

                                                                       
     In thousand euros (EUR                            Change                 Change
              '000)           30/06/2012  31/12/2011   in TEUR   30/06/2011   in TEUR
 
    Non-current assets            53,089      48,631    4,458      45,756      7,333
    Current assets                34,026      39,863   -5,837      31,721      2,305
    Equity attributable to
    Group shareholders            31,217      34,556   -3,339      33,563     -2,346
    Non-controlling interests      2,256       2,446     -190       2,301        -45
    Non-current financial
    liabilities                   16,759      11,997    4,761      11,055      5,704
    Other non-current
    liabilities                    1,623       1,523       99       1,907       -285
    Current financial
    liabilities                    2,556       3,500     -945       1,544      1,011
    Other current liabilities     32,704      34,472   -1,767      27,107      5,598
    Net debt                      11,931       3,535    8,397       2,593      9,339
    Gearing                        26.3%        8.7%    17.6%        6.7%      19.6%
    Operating cash flows
    before cost of net
    financial debt                -1,636       3,627   -5,263          68     -1,704
    Net cash flows from
    investing activities          -5,493     -14,416    8,923      -9,325      3,832
    Equity - Group share -
    per share (in euros)            1.99        2.22    -0.23        2.14      -0.15


Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012


The balance sheet total was €87.115m at 30/06/2012, compared to €88.495m at 31/12/2011 and €77.478m at 30/06/2011.

Within the balance sheet assets, this change is the result of an increase in non-current assets and a reduction in current assets when compared with 31/12/2011, because of:

  • significant investment in tangible assets (€5.228m) during the half-year on the KIWI research and development platform (€1.44m), on the CHO plant buildings at Morcenx (€2.281m) and on the Inertam production tool (nearly €1m at 30/06/2012);
  • a loan granted in respect of a project being developed with Sunrise Renewables (€0.3m) within other non-current assets);
  • a reduction in current financial assets, in particular trade and other accounts receivable, because of the level of activity;
  • a reduction in the cash related to operating activities and from investments, partially offset by flows from financing.

Within the balance sheet liabilities, the change is broken down as follows:

  • equity went down by €3.528m, basically due to the loss for the period;
  • non-current liabilities increased by €4.861m, mainly linked to the increase in bank loans, namely:
    • drawdowns made from banking partners in respect of the construction of the building of the Morcenx plant,
    • and the financing obtained from OSEO in respect of investment and growth projects for the hazardous waste treatment segment.
  • current liabilities went down as a result of the level of activity.

The group's net debt was €11.931m at 30/06/2012, compared to a net debt of €3.535m at 31/12/2011, with the gearing going from 8.7% to 26.3%. The 2 segments which generated cash flow during the half-year were Hazardous Waste Destruction (€2.661m) and Air & Gas (€1.008m). The other 2 segments (Torch & Process and Renewable Energy) used €3.623m and €3.459m respectively, basically corresponding to an adverse change in the WCR and an increase in the advances granted to other operating segments for the former and a cash deficit on the operating activities for the latter.

Post-balance sheet events and outlook for 2012

Within the Renewable Energy branch, the Group inaugurated the Morcenx energy production plant on 9 July and is focusing on its start-up and ramp-up. The success of these objectives is a priority for the Group which is, at the same time, continuing with the commercial development of that segment of activity. The start of the operation of the Morcenx CHO plant under the O&M (Operations and Maintenance) contract should also help to increase the turnover.

The hazardous waste treatment activity should improve its operational performance thanks to the major new investment made in the load preparation area during the summer of 2012. These expected improvements in performance should be noticeable on a full-year basis from 2013.

The air and gas treatment activity carried out by the Europe Environnement sub-group is developing favourably due to the recovery in industrial orders and also increased exposure to export, rather than the less profitable government contracts, which should improve the operating margin for 2012.

The postponement of the order for the 3rd gas treatment line of the 3Sun plant in Italy should result in a decline in the 2012 turnover but should show an improvement in the result contributed by the Europe Environnement sub-group.

Finally, the Torch & Process segment will continue fulfilling the KNPP contract and its investments in Research and Development: the KIWI/ANR Turboplasma® pilot was commissioned at the start of October for an initial series of tests. 3 series of additional tests are planned over the end of the year and 13 more over 2013/2014 with different types of waste.

Financial agenda, next steps

  • SFAF (Financial analysts) meeting: 8 November 2012
  • Release of the social and consolidated annual accounts as at 31/12/2012, of the management report and of the auditors reports to the abovementioned accounts: 30 April 2013
  • SFAF meeting: first half of May 2013
  • 2012 « Document de référence »: May 2013


APPENDICES

operating segment information

                          Holding,
                              R&D,
                       Engineering   
                           torch &  Hazardous  Renewable
    30/06/2012             process      waste   Energies  Air and Gas    Total
    Goodwill                     0      2,615          0        5,819    8,434
    Other intangible 
    assets                     384         31        877           44    1,336
    Property, plant 
    and equipment            7,734      6,028      2,792        7,697   24,250
    Other non-current
    assets                   1,684        717      16018          650   19,068
    Cash and cash
    equivalents              1,856      3,817        384        1,256    7,313
    Financial
    liabilities              6,055      2,666          0       10,594   19,314
    Total assets            15,657     17,447     28,429       25,582   87,115
 
    Revenues                   944      3,594      4,545       12,281   21,365
    Operating income          -337     -1,284     -1,905          -69   -3,596
    EBITDA                     -36       -495     -1,700          444   -1,786
    Net increase in
    depreciation,
    amortisation and
    impairment                -301       -789       -248         -498   -1,837
 
                          Holding,
                              R&D,
                       Engineering 
                           torch &  Hazardous  Renewable
    30/06/2011             process      waste   Energies  Air and Gas    Total
    Goodwill                     0      2,615          0        5,705    8,320
    Other intangible
    assets                     598         36      1,510           73    2,216
    Property, plant
    and equipment            2,764      5,634          0        8,284   16,682
    Other non-current
    assets                   1,219        797     15,752          771   18,538
    Cash and cash
    equivalents              1,427        401      5,029        2,900    9,757
    Financial
    liabilities              1,224          5          0       11,370   12,599
    Total assets             9,014     12,937     28,602       26,925   77,478
  
    Revenues                   594      3,151      5,707       16,308   25,760
    Operating income          -874     -1,279        -34           64   -2,122
    EBITDA                    -511       -389         37          444     -419
    Net increase in
    depreciation,
    amortisation and
    impairment                -363       -891       -186         -360   -1,800
 
                          Holding,
                              R&D,
                       Engineering 
                           torch &  Hazardous  Renewable
    31/12/2011             process      waste   Energies  Air and Gas    Total
    Goodwill                     0      2,615          0        5,795    8,410
    Other intangible
    assets                     465         28      1,035           60    1,587
    Property, plant
    and equipment            5,536      5,664      1,212        7,930   20,343
    Other non-current
    assets                   1,687        556     15,439          608   18,291
    Cash and cash 
    equivalents              5,480      1,176      3,842        1,465   11,963
    Financial
    liabilities              3,451          4          0       12,044   15,498
    Total assets            17,129     14,779     29,993       26,593   88,495
 
    Revenues                 1,369      7,960     17,186       31,516   58,030
    Operating income           -42     -1,179       -176          952    -446
    EBITDA                     596        634       -259        1,718    2,688
    Net increase in
    depreciation,
    amortisation and
    impairment                -639     -1,813       -539         -755   -3,745


Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

consolidated statement of financial position

    In EUR'000s                              30/06/2012   31/12/2011   Change
    Goodwill                                      8,434        8,410       24
    Other intangible assets                       1,336        1,587     -251
    Property, plant and equipment                24,250       20,343    3,907
    Investment properties                             -            -        -
    Investments in associates                     7,297        7,340      -43
    Other non-current financial assets            9,453        8,978      475
    Deferred tax assets                           2,318        1,973      345
    Non-current assets                           53,089       48,631    4,458
 
    Inventories and work-in-progress              2,155        2,156       -1
    Accounts receivable                          16,294       17,586   -1,292
    Other operating receivable                    6,578        6,798     -220
    Current tax receivable                          177          133       44
    Other current assets                          1,439        1,227      212
    Cash and cash equivalents                     7,383       11,963   -4,581
    Assets from activities held for sale              -            -        -
    Current assets                               34,026       39,863   -5,837
 
    Assets                                       87,115       88,495   -1,380
    Capital                                      15,737       15,656       81
    Additional paid-in capital                   34,658       34,658        -
    Reserves and retained earnings              -15,728      -14,417   -1,311
    Net income for the financial year            -3,450       -1,341   -2,109
    Equity attributable to Group
    shareholders                                 31,217       34,556   -3,339
    Non-controlling interests                     2,256        2,446     -190
 
    Equity                                       33,473       37,002   -3,528
 
    Non-current employee benefits                   567          451      117
    Non-current provisions                            -            -        -
    Non-current financial liabilities            16,759       11,997    4,761
    Deferred tax liabilities                        547          563      -16
    Other non-current liabilities                   509          510       -1
    Non-current liabilities                      18,381       13,521    4,861
 
    Current provisions                              759          697       62
    Current financial liabilities                 2,556        3,500     -945
    Trade payables and related accounts          14,860       18,124   -3,264
    Current tax payables                              2            -        2
    Other operating payables                      6,260        5,914      346
    Other current liabilities                    10,823        9,737    1,086
    Liabilities of businesses held for sale           -            -        -
    Current liabilities                          35,260       37,972   -2,712
 
    Liabilities                                  87,115       88,495   -1,380
    Average number of shares                 15,672,989   15,537,116  135,873
    Average diluted number of shares         20,006,401   19,852,728  153,673
    Equity - Group share - per share (in
    euros)                                         1.99        2.224     -0.3
    Equity - Group share - per share,
    diluted (in euros)                             1.56        1.741     -0.2

 

Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

consolidated income statement

    In EUR'000s                                30/06/2012   30/06/2011   Change
    Revenue                                        21,365       25,760   -4,396
    Other operating income                          5,743        3,226    2,518
    Purchases consumed                            -16,130      -16,927      797
    External expenses                              -5,191       -5,353      162
    Personnel costs                                -6,908       -6,411     -497
    Other operating expenses                          -79         -225      145
    Taxes                                            -458         -393      -65
    Depreciation and amortisation, 
    impairment, and provisions                     -1,837       -1,800      -38
    Current operating income                       -3,496       -2,122   -1,374
    Impairment                                          0            0        0
    Other non-recurring operating income and
    expenses                                         -100            0     -100
    Operating income                               -3,596       -2,122   -1,473
 
    Income from cash and cash equivalents              11            9        2
    Cost of gross financial debt                     -283         -263      -20
    Cost of net financial debt                       -256         -254      -17
    Other financial income                             91          116      -25
    Other financial expense                           -52          -45       -7
    Financial income                                 -232         -183      -49
 
    Income tax                                        233         -114      347
    Net income of consolidated companies           -3,580       -2,420   -1,161
 
    Share of net income from associates               -28          -97       69
    Net income from discontinued operations             0            0        0
    Net income for the period                      -3,623       -2,516   -1,107
    Non-controlling interests                         173          155       18
    Net income (Group share)                       -3,450       -2,362   -1,089
 
    Average number of shares                   15,672,989   15,416,225  256,764
    Average diluted number of shares           20,006,401   19,686,037  320,364
 
    Basic earnings per share (in euros)             -0.22        -0.15    -0.07
    Diluted earnings per share (in euros)           -0.17        -0.12    -0.05


Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

consolidated statement of comprehensive income

    In EUR'000s                30/06/2012       30/06/2011   Change
    Net income of the
    consolidated Group             -3,623           -2,516   -1,107
    Exchange differences on
    translation of
    consolidated companies             22               22        0
    Change in the value of 
    cash flow hedges                  -71               48     -119
    Income tax effect relating 
    to these items                     24              -16       40
    Non-current assets held
    for sale
    Other comprehensive income
    for the period, net of tax        -25               54      -79
    Total comprehensive income
    for the period, net of tax     -3,649           -2,463   -1,186
    - attributable to Group
    shareholders                   -3,462           -2,335   -1,127
    - attributable to
    non-controlling interests        -187             -128      -59


Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

consolidated cash flow statement

    In EUR'000s                      30/06/2012  30/06/2011   Change
    Total consolidated net income        -3,623      -2,516   -1,107
    Adjustments                           1,937       2,220     -282
    Elimination of net income from
    associates                               28          97      -69
    Elimination of depreciation,
    amortisation and provision            1,809       1,905      -96
    Elimination of revaluation gains
    and losses (fair value)                   3         106     -103
    Elimination of gains and losses
    on disposals of assets and
    dilution gains                           -5           6      -11
    Elimination of dividend income            0           0        0
    Elimination of income and
    expenses with no impact on cash
    flow                                      0           0        0
    Calculated income and expense
    form share-based payments               103         102        1
    Operating cash flows after cost
    of net financial debt and tax        -1,686        -300   -1,385
    Elimination of the income tax
    expense (income)                       -233         114     -347
    Elimination of the cost of net 
    financial debt                          283         254       29
    Operating cash flows before cost
    of net financial debt and tax        -1,636          68   -1,704
    Impact of the change in working
    capital requirement                    -777       7,548   -8,325
    Taxes paid                             -152        -124      -28
    Net cash flows from operating
    activities                           -2,564       7,492  -10,056
    Impact of changes in scope               -1         -10        9
    Capital expenditure on tangible
    and intangible assets                -4,897      -1,813   -3,084
    Capital expenditure on financial
    assets                                    0           0        0
    Change in loans and advances
    granted                                -460      -7,502    7,042
    Investment subsidies received             1           0        1
    Proceeds from disposal of
    tangible and intangible assets            4           0        4
    Disposal of financial assets              0           0        0
    Dividends received                        0           0        0
    Other cash flows from investing
    activities                             -141           0     -141
    Net cash flows from investing
    activities                           -5,493      -9,325    3,832
    Share capital increase                    0                    0
    Sale (purchase) of treasury
    shares                                   25         -10       35
    Increase in loans                     5,185         561    4,624
    Repayment of loans                     -462        -536       74
    Net financial interest paid            -113        -252      139
    Dividends paid to Group 
    shareholders                              0           0        0
    Dividends paid to
    non-controlling interests                 0           0        0
    Other cash flows from financing
    activities                                0           0        0
    Net cash flows from financing
    activities                            4,635        -238    4,873
    Impact of exchange rate
    fluctuations                              9        -249      258
    Impact of changes in accounting
    policies                                  0           0        0
    Change in cash and cash
    equivalent                           -3,413      -2,319   -1,094
    Opening cash position                10,175      12,321   -2,146
    Closing cash position                 6,762      10,002   -3,239


Source  : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012

GLOSSARY


EBITDA: This is the net consolidated revenue, including companies' fiscal expenses, net financial expenses and net appropriations to depreciation and provisions.

Net debt: Financial debt less liquid assets and short term investment securities

EPC: Engineering, Procurement and Construction contract. This is a contract of engineering, supply and construction.

Gearing: net debt / (net debt + equity ratio)

KIWI:Kobelco Eco Solution (KES) Industrial CHO PoWer GasIfication is a R&D program that aims to test the combination of a new type of gasifier developed by KES and the turboplasma® (syngas cleaning process by plasma) developed by Europlasma, for the production of energy from waste and biomass.

KNPP: Kozloduy Nuclear Power Plant is a contract for the supply of a plasma furnace to reduce and immobilize radioactive waste in Bulgaria.

O&M: Operation and Maintenance contract.

SESCO: Solar Energy Storage with COfalit material is a R&D program that aims to reuse the Cofalit material (product coming from vitrified asbestos waste) in the solar thermal energy storage industry.

SFAF: the French Financial Analysts' Association (or SFAF) is a professional association that aims to contribute to the improvement of financial analysis techniques, as well as to the development of high- quality economic and financial information. Its members are mostly financial analysts or portfolio managers.

About Europlasma

Europlasma is a French Group operating in the clean technologies and renewable energy production industries. Founded in 1992 to apply its proprietary plasma torch technology to hazardous waste destruction, it is now built on the following four business units:

  • Europlasma is a world-wide supplier of plasma heating systems and related applications
  • Inertam is the global specialist in the destruction and recycling of asbestos and hazardous waste
  • Europe Environnement is the European expert in industrial ventilation and gas cleaning systems.
  • CHO Power is a producer of electricity from waste and biomass gasification.

http://www.europlasma.com [Alternext - NYSE Euronext Paris - Mnemo : ALEUP - Isin : FR0000044810]

Important notice

This release contains provisional information and statements based on the best estimates of the Management at the date of their publication. This information is, by nature, subject to risks and uncertainties which are difficult to predict and generally outside of the Group's field of action. These risks include the risks listed in the Group's reference document available on its website http://www.europlasma.com.

Consequently, the future performance of the Group may differ significantly from the provisional data communicated and the Group can make no commitment to the achievement of these provisional elements.

Press and investor contacts

Didier PINEAU, Chief Executive Officer / Anne BORDERES in charge of Shareholders Relations

Estelle MOTHAY, Chief Financial Officer

Tel: +33-556-747-372
[email protected]

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