Great RNS.29 Jan 2018 07:13
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Regulatory News (RNS)
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Pre-close Trading Update
Regulatory News
Pre-close Trading Update
Mon, 29th Jan 2018 07:00
RNS Number : 1269D
HydroDec Group plc
29 January 2018
�
29 January 2018
�
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
�
Pre-close Trading Update
�
Hydrodec Group plc (AIM: HYR), the cleantech industrial oil re-refining group, is pleased to provide a trading update for the financial year ended 31 December 2017.
�
Unaudited Highlights for year ended 31 December 20171
����� Group EBITDA approximately US$0.45 million, the first positive full-year EBITDA in the Group's history, a significant improvement of US$1.75 million on the prior year (2016: EBITDA loss of US$1.3m)
����� Revenues increase by 6% to approximately US$17.8 million (2016: US$16.8 million from continuing core re-refining business), driven by improved pricing and sales mix
����� Gross unit margins increase substantially to 14.5% (2016: 5.2%)
�����Group sales volumes of premium quality�SUPERFINE transformer oil and base oil in 2017 lower at 29.3 million litres (2016: 33.3 million litres), reflecting feedstock constraints and higher feedstock inventory at start of prior year due to Canton plant recommissioning - demand for SUPERFINE products remains robust
�����Further improvement in sales mix between higher margin transformer oil and lower margin base oil, with transformer oil sales representing 52% of total oil sales in 2017, up from 40% in 2016 - targeting at least 60% of total sales in 2018
��