End of coverage
SIGNIFICANT NEWS

Europlasma is going through a complete revamp of its management, its strategy and its finances. We stop coverage after seven years of paid-for research.


FACT

- Europlasma’s new owners and managers published its 2018 accounts in October with a €-53m loss after a €32m amortisation of various assets. 2018 shareholders’ funds stand at €-34m. Net debt stands at €28m.

- The management team is deemed to be completely renewed by November 2019,

- The AGM on the 2018 accounts and strategic review is to be held on 29//11/2019.


ANALYSIS

In our previous update, we commented on the phenomenal dilution to be expected from the “equity line” type funding designed to make Europlasma survive as a going concern.

The last count on the number of shares is c. 550m. We had allowed for a rough 640m by the close of this year. Historical shareholders have thus been reduced to fine dust, as expected.

The new strategy is definitely centred on Europlasma’s competences in the treatment of hazardous waste and the market opportunities offered by lower carbon intensity requirements.


IMPACT

We end coverage of Europlasma with this release.