RUBIS: Third quarter revenue up 28% - Solid growth in volumes and margin
November 07, 2019 at 11:40 am EST
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RUBIS
RUBIS: Third quarter revenue up 28% - Solid growth in volumes and margin
07-Nov-2019 / 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.
7 November 2019, 5:35pm
The third quarter 2019 registered a steady growth, fuelled by higher volumes and margin:
Rubis Énergie enjoyed robust momentum in all geographical areas, with a 3% increase in volumes on a like-for-like basis. The price configuration for fuel products (-46%) remained favorable, resulting in a significant increase in unit margins(+8%);
Rubis Support and Services, which includes SARA (refinery in the French Antilles) and all the Group's shipping, trading and logistics operations, delivered revenue of EUR200 million, with a business volume of 305,000m3(+18%);
Rubis Terminal stepped up the trend recorded during the first half of the year, with a 6% increase in storage revenues. All geographical areas delivered growth, with a particularly marked turnaround in Turkey (+123%). In Dunkirk, new bitumen storage capacities started operations and a new storage/blending contract was signed ahead of IMO 2020.
Q3-2019
Cumulative 9M at 30 September
Revenue (in EURm)
2019
Change
2019
Change
Rubis Énergie
1,159
+42%
3,293
+33%
Europe
160
-1%
500
+2%
Caribbean
463
+6%
1,372
+4%
Africa
536
+146%
1,421
+116%
Rubis Support and Services
200
-10%
649
-20%
Rubis Terminal
73
-10%
217
-13%
Bulk liquid storage
40
+9%
113
+5%
Fuel productswholesale
34
-25%
104
-26%
Total consolidated revenue
1,432
+28%
4,159
+18%
No events since the publication of the financial statements as of 30 June 2019 that are likely to have a material effect on the Group's financial structure.
Rubis Énergie: fuel productsdistribution
Volumes sold in retail distribution by Rubis Énergie for the period registered a sharp increase compared to 2018 at 1,411,000m3.
Geographical breakdown
(fuel retail)
(in '000 m3)
Q3-2019
Q3-2018
Change
Like-for-like
change
Europe
201
185
+8%
+6%
Caribbean
565
543
+4%
+4%
Africa
646
305
+111%
+1%
TOTAL
1,411
1,033
+37%
+3%
Europe:sales volumes rose 6% like-for-like to 201,000 m3. The level of new contracts secured remained vibrant, particularly in France, pushing up market share.
Caribbean: volumes sold amounted to 565,000 m3, marking a 4% rise, despite the disruption caused during September by the political situation in Haiti.
Africa: 646,000m3were sold during the period, of which 337,000 tied to the new East Africa scope, with a 1%like-for-like increase. Sales of bitumen (+14%) and fuel sales through the gas station network (+4%) registered firm growth.
Rubis Support and Services: refining, trading-supply and shipping
The Support and Services business includes the SARA refinery (French Antilles) and all of the Group's shipping, trading and services activities. These operations delivered total revenue of EUR200 million (-10%) over the period, this trend was directly related to the fall in nominal prices during the period (-46%).
During the third quarter, the trading and supply operations handled a total volume of 305,000m3(+18%) in a favorablemargin configuration.
Rubis Terminal: bulk liquid storage
"Bulk liquid storage" revenue(excluding Antwerp) rose 9% to EUR40 million.
Including Antwerp site, total storage revenues moved up 6% to EUR47.5 million. Key points:
in France, all products revenues increased by 2%:
fuel-related revenues moved up by 1% along the market trend,
revenues from other products rose by 6%, with good headway in fertilizers and molasses/edible oils and the start-up of bitumen storage in Dunkirk. Chemicals revenues declined by 5% due to a product mix effect and continued to display a high occupancy rate;
in the ARA zone (Rotterdam and Antwerp), revenues rose by 2%, despite a demanding comparison basis with 2018, which had registered exceptional income. The occupancy rate remains close to 100%;
in Dörtyol (Turkey),there was an impressive turnaround in revenues (+123%). This significant increase was fuelled by ongoing transit with the northern part of Iraq, the signature of new contracts in the second quarter, which took effect during the third quarter aheadof IMO 2020 and the comparison basis effect.
Revenue from "fuel products wholesale" amounted to EUR34 million.
Next publication:
Fourth quarter 2019 revenue: 11 February 2020 (after the close of the market)
Press contact
Analyst contact
PUBLICIS CONSULTANTS - Aurélie Gabrieli
RUBIS - Financial Division
Tel: +(33) 1 44 82 48 33
Tel: +(33) 1 44 17 95 95
Regulatory filing PDF file
Document title: RUBIS: Third quarter revenue up 28% - Solid growth in volumes and margin Document: http://n.eqs.com/c/fncls.ssp?u=CHVEMTNURC
Language:
English
Company:
RUBIS
46, rue Boissière
75116 Paris
France
Phone:
+33 144 17 95 51
Fax:
+33 145 01 72 49
E-mail:
communication@rubis.fr
Internet:
www.rubis.fr
ISIN:
FR0013269123
Euronext Ticker:
RUI
AMF Category:
Inside information / News release on accounts, results
Rubis is an independent French group, operating in the energy sector for over 30 years. The activity is organized around 3 poles:
- Rubis Energie is established in Africa, the Caribbean and Europe and combines the Distribution activity and logistics in support of the Distribution activity via its Support & Services branch. The main products marketed are liquefied gases, fuels and biofuels for service stations and professionals (hotels, aviation, marine, public works, etc.) as well as bitumen;
- Rubis Renouvelables: a division created in 2022 and bringing together the activities of Photosol in France (one of the French independent leaders in large-scale photovoltaic installations as well as shading and roofing for professionals) and the partnership with HDF Energy on islands or in non-interconnected areas;
- JV Rubis Terminal specializes in the storage and handling of liquid and liquefied bulk products (fuels, biofuels, chemicals and foodstuffs) in Europe.
RUBIS 
