RUBIS: THIRD-QUARTER SALES REVENUE - GROWTH IN BUSINESS BY VOLUME: +7%
29 October 2013 - 3:45AM
October 28, 2013
During the third quarter, both business segments
have recorded positive trends experiencing a 7% volume growth.
Taking into account the fall in petroleum products prices
consolidated sales revenue for the third quarter of 2013 reached
€684 million (-3%).
- Rubis
Energie recorded stable sales revenue of €611 million (-1%). This
stability was attributable to changes in scope and lower prices for
petroleum products (-9%). Overall volume growth was 7% (+1% at
constant scope);
- Rubis Terminal recorded
storage revenues of €35.9 million, an increase of 8% (+3% at
constant scope), marked by an increase in petroleum product revenues in France (+9%) and strong
growth in revenues in Northern Europe (+19%).
Overall, the fall in supply prices (propane: -9%)
continued to create a favorable situation in terms of unit
margin.
Since the beginning of the year, the Group's scope
has been expanded, with the acquisition in Jamaica (distribution of
petroleum products) and the consolidation of the storage site of
the former Reichstett refinery. In addition, the German LPG
subsidiary, which has been sold, did not contribute to business
during this quarter.
There have been no events since
the release of the interim financial statements liable to
significantly alter the Group's financial structure, which remained
solid at the end of the quarter.
|
Third
quarter |
9
months
to September 30,
2013 |
Sales revenue (in € millions) |
2013 |
Change |
2013 |
Change |
RUBIS ENERGIE
Europe
Caribbean
Africa |
610.9
164.0
405.1
41.8 |
-1%
-17%
+9%
-10% |
1,946.0
525.2
1,293.8
127.0 |
+9%
-13%
+24%
-12% |
RUBIS TERMINAL
Bulk liquid storage
Fuels wholesale |
73.5
35.9
37.5 |
-12%
+8%
-26% |
259.0
101.3
157.7 |
-7%
+6%
-14% |
Total consolidated sales
revenue |
684.3 |
-3% |
2,205.0 |
+7% |
RUBIS ENERGIE: Distribution
of LPG and petroleum products
Volumes distributed by Rubis Energie over the
period totaled 546,000 m3, an increase
of 7%. At constant scope, volume growth was 1%.
Geographical
breakdown of volumes
(Retail distribution)
In '000 m3 |
Q3-2012 |
Q3-2013 |
Change |
Change at
constant scope |
Europe |
158 |
126 |
-20% |
-2% |
Caribbean |
268 |
348 |
+30% |
+8% |
Africa |
87 |
72 |
-18% |
-18% |
TOTAL |
513 |
546 |
+7% |
+1% |
· Europe: In a lackluster economy, volumes edged
down slightly at constant scope (-2%). Buoyant volumes of
automotive fuel sold in networks on islands (Corsica and the
Channel Islands +2%) and LPG in Switzerland and France (with the
exception of autogas) were undermined by a decline in Spain (-10%),
due to the economic crisis. It is reminded that third-quarter 2013
volumes no longer include the German subsidiary, which has been
sold.
· Caribbean: Volumes sold totaled 348,000
m3, an increase
of 30% at current scope. At constant scope, volumes increased by
8%; network sales were stable, while the increase in sales (+19%)
in the aviation and commercial sectors (marine, power plants) reflects new
contract gains. The trading-supply business
recorded new progresses. Change in scope over the period relates to
Jamaica, consolidated since January 1, 2013.
· Africa: South Africa and Morocco recorded
downturns attributable to specific local situations. A slow economy
and recurrent strikes paralyzed the industrial sector in South
Africa. Lastly, Madagascar made new advances, particularly in
deliveries to industry.
RUBIS TERMINAL: Bulk liquid
storage
Rubis Terminal's main activity, storage, recorded
revenues of €35.9 million, an increase of 8%.
In France, revenues
from all products increased by 7%:
- good
performance in petroleum products in a
context of declining consumption, with billings of petroleum products up 9%. They were stable at constant
scope (excluding revenues from the Reichstett site);
- revenues
from fertilizers were up 9%;
- revenues
from edible oils were down 7%, due to a drop
in consumption excluding the food industry and a reduction in
production capacity in the biodiesel industry;
- revenues
from chemicals and heavy oil were
stable.
There was strong growth in the ARA zone (Antwerp-Rotterdam-Amsterdam), where
revenues were up 19% at €6.3 million thanks to the opening of
new capacity on both the Antwerp and Rotterdam installations and
the maintenance of high utilization rates.
In Turkey, revenues
are not material, efforts having been focused on the construction
of the jetty which completion is scheduled in the fourth quarter of
2014. The terminal, which is currently focused primarily on
oil traders, continues to suffer the effect
of an unfavorable oil price structure (absence of contango). In addition, activity includes the start of
a bunkering contract and the gradual ramp-up
of a contract for the transit of crude oil
from the Kurdistan Government Region.
Wholesale turnover totaled
€37.5 million (-26%), with no effect in terms of contribution.
Upcoming events:
Q4 2013 sales revenue: February 11, 2014 (at Bourse
closing)
Press Contact
PUBLICIS CONSULTANTS - Lise
Ardhuin
Tel.: +33 (0) 1 44 82 46 95 |
Analyst Contact
RUBIS - Bruno Krief
Tel.: +33 (0)1 44 17 95 95 |
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