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    RUI   FR0013269123

RUBIS

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RUBIS: First structural investment in renewable energy - Rubis enters into an industrial and financial partnership with Hydrogène de France, a world pioneer in hydrogen power

06/10/2021 | 01:37am EDT
RUBIS 
RUBIS: First structural investment in renewable energy - Rubis enters into an industrial and financial partnership with 
Hydrogène de France, a world pioneer in hydrogen power 
10-Jun-2021 / 07:35 CET/CEST 
Dissemination of a French Regulatory News, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Paris, June 10, 2021, 07:35 am 
 
 
First structural investment in renewable energy 
 
Rubis enters into an industrial and financial partnership with Hydrogène de France, a world pioneer in hydrogen power 
 
 
 
Rubis and Hydrogène de France (HDF Energy), a world pioneer in the development of infrastructure to generate continuous 
or "on demand" hydrogen-fueled power from renewable energy sources (wind or solar power), have entered into a strategic 
partnership as part of HDF Energy's plans to launch an initial public offering. 
 
Rubis distributes energy for everyday life in 41 countries across three geographical regions (Africa/Indian Ocean, the 
Caribbean and Europe) and has decided, in addition to its distribution and storage operations, to invest in renewable 
energies. This partnership, upstream of a fast-growing segment that provides solutions for decarbonation, will enable 
the Group to make a defining foray into new energies with niches characteristics, keeping in line with its business 
model. 
 
HDF Energy is positioned as a developer of high-capacity power stations that run on green and carbon-free hydrogen 
through its excellent command of hydrogen fuel cell technology and design, a core aspect of the entire mechanism. HDF 
Energy's Renewstable(R) projects under development (power plants) represent a potential investment of EUR1.3 billion. 
Based on these strategic objectives, HDF Energy aims to reach EUR100 million in revenue for an EBITDA margin of around 
35% by 2025. 
 
Rubis is committed through this partnership to support HDF Energy's development: 
 
  ? by participating up to EUR50 million[1] in the capital increase to be carried out as part of HDF Energy's listing on 
    the regulated Euronext Paris market, with a view to becoming a strategic shareholder and by having a position of 
    director and a position of censor within the Board of Directors of HDF Energy[2]; 
 
  ? by benefiting, for a period of five years, of a priority to become a majority investor in the projects that HDF 
    Energy plans to develop in Africa/Indian Ocean, the Caribbean and Europe, allowing it to position itself as a 
    majority direct investor in renewable electricity generation projects, targeting a double-digit Internal Rate of 
    Return (IRR) on invested equity. Rubis will also be offered the opportunity to invest in projects in other parts of 
    the world, without requiring majority status in any given project. The Group will bring its insight into local 
    markets and provide HDF Energy with technical, logistical, administrative, and legal support for projects that will 
    be developed in the countries where Rubis operates. 
 
 
The two companies have been working together on two developments since 2016: 
 
  ? a 1 MW hydrogen fuel cell, put into operation in December 2019 at the SARA refinery (French Antilles) to use the 
    hydrogen produced by the refinery to supply renewable electricity to 2,000 households in Martinique (9,000-tonne 
    annual savings in carbon emissions); 
 
  ? the CEOG (Centrale Électrique de l'Ouest Guyanais - West Guyanese power plant) electrical power plant, which has 
    entered the final development phase. This is the world's first hydrogen-powered multi-megawatt electricity plant, 
    and it will produce renewable, stable and competitively-priced energy (annual production of 50 GWh) capable of 
    supplying the equivalent of 10,000 households all year round. 
 
 
"Together with Damien Havard, HDF Energy's founder and majority shareholder, we are led by a strong conviction 
regarding the value creation and acceleration of development capacities for hydrogen-powered electricity projects in 
the countries in which Rubis operates. Through this agreement, we are delighted to be taking to the next level the 
joint efforts we have been pursuing with HDF Energy over the past six years", commented the General & Managing Partners 
of Rubis SCA. 
 
About HDF Energy 
HDF Energy, a world pioneer in hydrogen-electricity, develops high-capacity large scale Hydrogen-to-Power plants and 
participates, through dedicated project companies, in their operations. These power stations will provide firm or 
on-demand electricity from renewable energy sources (wind or solar), combined with high power multi-megawatt fuel cells 
supplied by HDF Energy. HDF Energy has developed two types of turnkey Hydrogen-to-Power plants: 
  ? Renewstable(R) (POWER-TO-POWER) multi-megawatt turnkey power plants producing firm renewable electricity. These 
    power plants are composed of an intermittent renewable source and a long-term on-site hydrogen energy storage; 
  ? HyPower(R) (GAS-TO-POWER) plants that produce "on demand" electricity using green hydrogen or decarbonized hydrogen 
    harnessed from transport networks. 
HDF Energy integrates key fuel cell know-how, under a memorandum of understanding with Ballard (seven-year exclusive 
license agreement) and develops in France (Bordeaux area) the world's first mass production facility for high-power 
fuel cells to produce energy, which will be brought into service in 2023. Through this activity HDF Energy will also 
address the maritime and data center markets. 
HDF Energy is an accelerator of the energy transition. By offering grid-friendly and stable decarbonized electricity 
solutions. 100% renewable energy grids are now possible. 
 
Find out more at:  www.hdf-energy.com 
 
 About Rubis 
Rubis, a company listed on Euronext Paris with market capitalization of nearly EUR4 billion at the end of 2020 (SBF 120), 
specializes in the distribution of energy and bitumen, from supply to the end customer, and, through its Rubis Terminal 
JV, in bulk liquid storage. 
Rubis has a strong position in the distribution of LPG, considered in emerging markets as a transitional energy, and 
bitumen, focusing on infrastructure projects in West Africa. 
With revenue of EUR3.9 billion and distributed volumes of 5 million m3, the Group is recognized in the market for its 
expertise and the quality of its services. Thanks to its international development strategy, Rubis now occupies strong 
market positions in diversified products and segments in 41 countries in three regions: Africa/Indian Ocean, the 
Caribbean and Europe. 
Over the past 10 years, Rubis has achieved 9% compound annual growth in earnings per share and dividend per share. 
 
Find out more at:  www.rubis.fr/en 
 
 
 
 
 
Press Contact                            Investor Relations 
PUBLICIS CONSULTANTS - Aurélie Gabrieli  RUBIS - Anna Patrice, Head of IR 
Tel: +(33) 1 44 82 48 33                 Tel: +(33) 1 45 01 72 32 
aurelie.gabrieli@publicisconsultants.com A.Patrice@rubis.fr 
 ----------------------------------------------------------------------------------------------------------------------- 

[1] This is the amount that Rubis has, through Rubis Énergie, undertaken to invest in connection with HDF Energy's IPO, bearing in mind that the subscription orders relating to this undertaking are intended to be fulfilled in full and on a priority basis, but may be reduced according to standard allocation principles (namely where the subscriptions received in connection with the IPO are far greater than the number of shares on offer).

[2] Subject to suspensive condition and from the admission of HDF Energy shares on the regulated market of Euronext Paris and compliance, in this context, by Rubis with its commitment to subscribe and release the corresponding funds. ----------------------------------------------------------------------------------------------------------------------- Regulatory filing PDF file File: RUBIS: First structural investment in renewable energy

=---------------------------------------------------- 
Language:        English 
Company:         RUBIS 
                 46, rue Boissière 
                 75116 Paris 
                 France 
Phone:           +33 144 17 95 95 
Fax:             +33 145 01 72 49 
E-mail:          communication@rubis.fr 
Internet:        www.rubis.fr 
ISIN:            FR0013269123 
Euronext Ticker: RUI 
AMF Category:    Inside information / Other releases 
EQS News ID:     1206306 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------ 

1206306 10-Jun-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1206306&application_name=news 
 

(END) Dow Jones Newswires

June 10, 2021 01:36 ET (05:36 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.62% 33823.45 Delayed Quote.12.07%
DOW JONES AFRICA TITANS 50 INDEX -0.30% 529.09 Delayed Quote.2.06%
PUBLICIS GROUPE SA -0.98% 54.38 Real-time Quote.34.74%
RUBIS -1.00% 38.76 Real-time Quote.3.08%
S&P AFRICA 40 INDEX -0.19% 170.42 Delayed Quote.1.64%
S&P GSCI ALL CRUDE INDEX -0.06% 396.5976 Delayed Quote.45.68%
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Financials
Sales 2021 4 216 M 5 022 M 5 022 M
Net income 2021 301 M 359 M 359 M
Net Debt 2021 276 M 329 M 329 M
P/E ratio 2021 13,4x
Yield 2021 4,68%
Capitalization 3 954 M 4 711 M 4 710 M
EV / Sales 2021 1,00x
EV / Sales 2022 0,91x
Nbr of Employees 4 123
Free-Float 88,5%
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Technical analysis trends RUBIS
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 7
Average target price 51,33 €
Last Close Price 39,15 €
Spread / Highest target 55,8%
Spread / Average Target 31,1%
Spread / Lowest Target 12,4%
EPS Revisions
Managers and Directors
NameTitle
Bruno Krief Chief Financial Officer
Olivier Heckenroth Chairman-Supervisory Board
Alexandre François Picciotto Member-Supervisory Board
Chantal Mazzacurati Member-Supervisory Board
Laure Grimonpret-Tahon Member-Supervisory Board
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