Ecoslops: Revenue Increases by 21% in H1 2026, but Volumes Decline
Ecoslops reported a revenue of €7.3 million in the first half of 2026, marking a 21% increase compared to the same period in 2025. This mixed growth was largely due to a surge in oil prices (+35% price effect), while marketed volumes decreased by 10% and production quantities fell by 14%, hindered by delayed maintenance operations. Concurrently, net debt increased by €1.7 million over six months.
Growth Driven Mainly by Prices, Volumes in Contraction
The group benefited from a favorable average oil market in the semester. The price per barrel in euros rose by 15% from H1 2025 to H1 2026, with uneven movements: a decline of 23% in January/February, followed by a rebound of 38% from March to June, subsequent to the onset of conflict in the Middle East. In the Refined Products segment, revenue grew by 25%, but this growth was a result of a contrasting breakdown: a +35% price effect driven by diesel prices, partially offset by a -10% volume effect.
Produced quantities contracted by 14%, from 13,038 tonnes in H1 2025 to 11,264 tonnes in H1 2026. This decrease is attributed to maintenance operations initiated earlier than in 2025. The group anticipates that this shift will be fully recovered by the end of July 2026.
Tightened Cash Flow, Net Debt on the Rise
As of June 30, 2026, the group's total cash reached €3.8 million, with €2.9 million in available cash (the balance including a conditional advance of €0.8 million on investment grants, repayable in the second half of 2026).
Net debt worsened, rising from €11.9 million on December 31, 2025, to €13.6 million on June 30, 2026, an increase of €1.7 million over six months. This deterioration is attributable to an increased working capital requirement of €1.2 million, itself a result of the level of oil prices at the end of the period. The financing of operations through equity is thereby more constrained.
