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Rubis Earnings Release 2018
1636_rns_2018-05-09_e4289060-f717-4eaf-8cf9-d484ed6ccb8c.html
Earnings Release
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RUBIS SCA
Rubis: REVENUE: UP 36% - GLOBAL VOLUME GROWTH
09-May-2018 / 17:35 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Paris, 9 May 2018, 5:35 p.m.
Consolidated revenue for the first quarter of 2018 was EUR1,217 million (+36%), with sustained sales volumes in distribution and support and services and a decline at Rubis Terminal.
- Rubis Énergie recorded growth in sales volume of 28% (+3% on a like-for-like basis);
- Rubis Support and Services, including the SARA refinery in the French Antilles and the Group's shipping and trading/supply business, generated revenue of EUR336m, having more than tripled its sales volume (+229%);
- Rubis Terminal (including the fully consolidated Antwerp site) recorded a 9% fall in revenues, particularly due to its business located in Turkey.
Unit margins for Rubis Énergie remained stable against a backdrop of rising prices for petroleum products (propane: up 11% over 12 months), again demonstrating the strong resilience of the business model.
| Revenue (in EURm) | Q1 - 2018 | Variation | Variation (at constant scope) |
| Rubis Énergie Europe Caribbean Africa |
794 173 422 199 |
+25% +14% +31% +25% |
+8% +14% +9% - |
| Rubis Support and Services | 336 | +103% | +99% |
| Rubis Terminal Bulk liquid storage revenues Fuel wholesale |
87 36 51 |
-8% -14% -4% |
-8% -14% -4% |
| Total consolidated revenue | 1,217 | +36% | +23% |
No events have occurred since the publication of the financial statements as of 31 December 2017 that are likely to have a material effect on the Group's financial structure.
Rubis Énergie: fuel distribution
Rubis Énergie groups together all petroleum products distribution activities: service station networks, commercial fuel oil, aviation, marine, lubricants, bitumens and LPG.
Geographical distribution of volumes
(retail distribution)
| In '000 m3 | Q1 2018 | Q1 2017 | Variation | Variation (at constant scope) |
| Europe | 258 | 241 | +7% | +4% |
| Caribbean | 588 | 410 | +43% | +7% |
| Africa | 311 | 255 | +22% | - 4% |
| Total | 1,156 | 906 | +28% | +3% |
In the first quarter, retail distribution volumes reached 1,156,000 m3, an increase of 28%. Like-for-like volume growth was +3%, with details as follows:
- Europe: volumes sold in retail distribution reached 258,000 m3. The effect of winter was stronger than in 2017, leading to larger sales of fuel for heating. Volumes recorded solid growth of 4%, excluding the acquisition of the petrol station in Corsica;
- Caribbean: sales volumes was 588,000 m3, up by 43%. This substantial change is due to the acquisition in Haiti. Organic growth was nevertheless lively at 7%;
- Africa: the substantial increase in volumes to 311,000 m3, a rise of 22% which is linked to the acquisition in Madagascar; like-for-like sales volumes are 4% down for fuel oil and LPG and 3% down for bitumen. Sales were affected by temporary supply logistics constraints, whereas overall demand remained constant.
Rubis Support and Services: refining, trading/supply and shipping
The Support and Services business includes revenue from the SARA refinery in the French Antilles and the Group's shipping and trading/supply activities. Revenue for the period doubled, reaching EUR336m.
Trading/supply volumes for petroleum products virtually tripled to 780,000 m3, thanks to additional volume from the new acquisitions in the Caribbean and the Indian Ocean.
Rubis Terminal: liquid products storage
In the first quarter, revenue from deliveries and storage of liquid products for the Rubis Terminal division (excluding Antwerp) was EUR36m, a 14% decline.
Over the same period, Rubis Terminal's overall storage revenues (including Antwerp, now fully consolidated) fell by 9%, with details as follows:
- France: -5%
- oil storage revenues fell by 9% owing to a market-related downturn in trading revenues at the Dunkirk and Strasbourg sites and the expiry of contracts at Rouen,
- for other products, we can see a positive trend in the quarter, particularly in chemicals (up 15%) and molasses/oil seeds (up 17%), whereas fertiliser revenues show a downward movement over the period (-6%);
- Outside France: -14%
- the Rotterdam and Antwerp terminals posted a 16% rise in overall revenues, due to new capacity coming on stream in Antwerp, sustained demand, high utilisation rates for chemicals storage and extensions of contract terms,
- after an exceptional 2017 in terms of movements to and from northern Iraq, the Dörtyol terminal in Turkey saw a drop in activity due to geopolitical environment which was accentuated by the current unfavourable structure of the forward market; overall revenues are down by 52%.
Over the same period, wholesale revenues were EUR51m (down 4%). This fall had no material impact on profits.
Next meeting:
Ordinary General Meeting 7 June 2018
Half-yearly results 12 September 2018 (after market close)
| Press Contact | Analyst Contact |
| PUBLICIS CONSULTANTS - Aurélie Gabrieli | RUBIS - Investor Relations |
| Tel: 01 44 82 48 33 | Tel: 01 44 17 95 95 |
Regulatory filing PDF file
Document title: Download
Document: http://n.eqs.com/c/fncls.ssp?u=IDXOJGYPSG
| - - - | |
| Language: | English |
| Company: | RUBIS SCA |
| 105, avenue Raymond-Poincaré | |
| 75116 Paris | |
| France | |
| Phone: | +33 144 17 95 51 |
| Fax: | +33 145 01 72 49 |
| E-mail: | [email protected] |
| Internet: | www.rubis.fr |
| ISIN: | FR0013269123 |
| Euronext Ticker: | RUI |
| AMF Category: | News release on accounts, results |
| End of Announcement | EQS News Service |
648817 09-May-2018 CET/CEST