TIDMFLTA
RNS Number : 4244S
Filta Group Holdings PLC
16 November 2021
16 November 2021
Filta Group Holdings plc
("Filta", the "Company" or the "Group")
ESG Commitment and Trading Update
Highlights
-- Filta, through its proprietary FiltaFry process, helped US
customers save over 9 million litres of cooking oil during 2020
-- Cooking oil recycling during 2020 delivered CO2 reduction of 26,500 tonnes
-- Second half trading for the Group has continued to be strong,
posting record revenues for the third quarter and October, led by
waste oil and equipment sales and installation
-- The Group is confident of a positive finish to the trading
year and anticipates full year revenue and adjusted EBITDA* will be
slightly ahead of analyst forecasts
ESG Commitment and Environmental Impact Report 2020
For 25 years, Filta Group Holdings PLC (AIM: FLTA), a provider
of fryer management and other services to commercial kitchens, has
been focussed on improving the environment and helping its
customers operate more sustainably. All of the Group's activities
benefit the environment in many ways and the Board believes that it
should provide its stakeholders with a clear statement of the
Group's ESG credentials and base year reporting metrics.
Filta is committed to achieving Net Zero Operational Impact on
the environment across all its businesses by 2035. Equally
important, Filta is also committed to helping its customers operate
ever more sustainably and goes above and beyond this commitment by
integrating sustainability into every customer-service delivery
visit. To this end, Filta regularly provides Environmental Impact
Reports ("EIRs") to customers, a copy of which can be
found in the ESG statement on the Company's website at https://filtaplc.com .
Through its core service, FiltaFry, the regular cleaning of
fryers and micro-filtration of the oil used in those fryers, Filta
helped its US customers save 9.3 million litres of cooking oil
during 2020. The EIR has calculated that producing this amount of
cooking oil would normally emit over 5,000 tonnes of CO2 and has a
carbon offset equivalent to planting 297,000 trees.
Although regular filtering can significantly extend the life of
the oil, it does eventually need to be replaced. Filta provides
collection and disposal services for the waste oil which is sold
and converted into biodiesel. In 2020, 8.7 million litres of waste
oil was collected by Filta and converted into biodiesel. Using this
fuel instead of petroleum diesel generated a CO2 offset equivalent
to planting more than 1.1 million trees.
The FiltaFry service is delivered through a network of
franchisees who service over 7,000 kitchens every week through
contracts with some of the world's largest brands, including
Sodexo, Compass, Aramark, Apex Companies, Whole Foods as well as
restaurants, hospitals, supermarkets, universities and stadia.
The data detailed below are from the EIR which identifies the
environmental savings Filta's services achieved in 2020. This sets
out a range of resource savings including water, agricultural land,
fuel and also total CO2 reductions, which reached 26,500
tonnes.
Key environmental impacts identified:
Farming and Processing Reductions
Land 35,273 acres
---------------
Water 94 billion
L
---------------
Pesticides 18 tonnes
---------------
Fertilizer 672 tonnes
---------------
Lime 5,727 tonnes
---------------
Farming and Processing Energy Reductions
Diesel 534,047 L
---------------
Gasoline 168,225 L
---------------
Electricity 233,513 kWh
---------------
Propane 168,225 L
---------------
Natural Gas 2,060,349
cu ft
---------------
Packaging and Transport Reductions
Plastic 288 tonnes
---------------
Cardboard 192 tonnes
---------------
Diesel 1,503,510
L
---------------
Carbon Offset from Oil Recycling
CO(2) savings 5.379 tonnes
---------------
Equivalent to planting 297,000 trees
---------------
Benefits of Replacing Diesel with Biodiesel
Particulate Matter (Soot, Carcinogen) 5 tonnes
---------------
Hydrocarbon (Soot) 6 tonnes
---------------
Carbon Monoxide (Green House Gas) 58 tonnes
---------------
Sulphur Dioxide (Asthmatic, Smog 5 tonnes
Producer, Acid Rain)
---------------
Carbon Offset from Waste Oil
CO(2) savings 21,115 tonnes
---------------
Equivalent to planting 1,163,000
trees
---------------
Q3 2021 Trading Update
Filta is pleased to report that its continuing commitment to
delivering environmental benefits to its customers has contributed
to strong growth in the current year. In particular, volumes of
waste oil collections have continued to grow and this, combined
with higher oil prices, has helped to deliver revenues in Q3 2021
which are 10% higher than in 2019, the latest year unaffected by
COVID-19, and 63% higher than Q3 of 2020.
The Company can also report that trading remained robust in
October as revenues set a record monthly high. Accordingly,
although the waste oil revenues command lower gross margins than
our other activities, having regard to the continued robust trading
that has been seen through October, the Board is expecting the
out-turn for the year to produce adjusted EBITDA slightly ahead of
analyst forecasts.
Filta's CEO, Jason Sayers, commented : "We have always been very
conscious of the need to look after our environment and these
latest statistics have measured in detail the significant
reductions in waste and emissions linked to us and our customers.
Whilst good progress is being made, there is still much to be done
to help our customers reduce their impact further and achieve
Filta's goal of being net zero carbon by 2035."
"We are delighted that the efforts that we made to support our
customers through the worst times of the pandemic are now being
rewarded by improving activity levels, underpinned by customer
loyalty, and that we can look to the future with a confidence that
was difficult to imagine 12 months ago."
Apex Companies, customer of Filta, commented: "Filta provides us
with used fryer oil management for approximately 25-30 facilities
for which we currently provide water and environmental consulting
services. They assist us in reducing the amount of waste oil
disposed at these facilities by filtering the used fryer oil until
it is no longer reusable, at which point it is taken offsite for
conversion to biodiesel. Filta's involvement with our program has
reduced the amount of waste generated by these facilities and has
also limited the potential for spills by eliminating the need for
used cooking oil drums by removing oil directly from fryers at a
number of the facilities. Filta provides Environmental Impact
Reports (EIRs) that summarize the quantity of oil conserved from
the filtering process as well as the amount of oil hauled off-site
for conversion to biodiesel. The EIRs also outline how the
filtering and recycling process relate to resource management,
energy management, and the reduction of pollutants emitted to the
environment. These reports are greatly appreciated by our clients,
as they demonstrate a commitment to increase sustainability at
their facilities."
*Adjusted EBITDA is earnings before interest, tax, depreciation,
amortisation and share-based payment expense and non-recurring
items.
Contacts:
Filta Group Holdings plc
Jason Sayers, Chief Executive
Officer
Brian Hogan, Chief Financial
Officer +1 407 996 5550
Cenkos Securities
Stephen Keys, Camilla Hume +44 20 7397 8900
Yellow Jersey PR
Charles Goodwin
Henry Wilkinson +44 7747 788 221
About Filta Group
Filta Group is a market-leading, commercial kitchen services
business, specialising in Fryer Management and Grease & Drain
Management services. Sustainability is at the heart of our business
with our services geared to help our customers significantly reduce
the environmental impact of their operations. Trusted by many
global brands, we service over 7,000 kitchens every week across
various sectors, from restaurants, leisure and sports through to
education, healthcare and supermarkets.
For more information on Filta and our ESG commitments visit our
website: https://filtaplc.com .
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