Europlasma: 2012 HY Results

                         Europlasma: 2012 HY Results

  PR Newswire

  BORDEAUX, France, October 30, 2012

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 1
^st half 2012 than over the first half 2011.

The Air & Gas  activity contributed 57% of the 1 ^st 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 1 ^st half
of 2012 was as steady as per the 1 ^st 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 KNPPcontract: 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
    abovementionedaccounts: 30 April 2013
  *SFAFmeeting: 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.

N et  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: K obelco Eco Solution (KES) I ndustrial CHO Po W er Gas I fication 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 E nergy S torage with CO falit 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 contactbourse@europlasma.com
 
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