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RUBIS
RUBIS: 11% revenue growth - stable volumes offset by wider margins
07-Feb-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.
Paris, 7 February 2019, 5:35pm
The fourth quarter of 2018 was characterised by still-firm fundamental
growth, despite the effects of external and temporary factors:
- Rubis ??nergie: strong overall momentum, despite:
. unfavourable weather conditions in Europe,
. procurement problems in Haiti,
. and social unrest in Réunion,
resulting in stable volumes (-1%), offset by a material increase in unit
margins (+ 9%);
- Rubis Support and Services, comprising SARA (refinery in the French
Antilles) and all shipping, trading and logistics activities, delivered
revenue of EUR255 million, with volumes in line with expectations;
- Rubis Terminal pursued the trends observed in the first half of the year:
strong momentum in chemicals (up 16%) in Northern Europe and France offset
the levelling-out of fuel-related revenue in France (down 9%), while the
Dörtyol terminal in Turkey continued to be weighed on by an absence of
traders and transit from the North of Iraq.
Rubis ??nergie delivered an impressive full-year performance, posting a 12%
increase in overall volumes, whereas Rubis Terminal (11% fall in revenue)
was weighed on by lower revenue in Turkey. All in all, consolidated revenue
rose by 21%.
Revenue (in EURm) Q4-2018 Change Full-year 2018 Change
Fuel products distribution 869 +15% 3,336 +23%
Europe 163 +9% 653 +18%
Caribbean 461 +13% 1,780 +21%
Africa 245 +22% 903 +32%
Support and Services 255 -5% 1,062 +19%
Bulk liquid storage 106 +27% 355 +8%
Bulk liquid storage revenue 38 -13% 146 -16%
Fuel products wholesale 68 +71% 209 +34%
Total consolidated revenue 1,230 +11% 4,754 +21%
No events since the publication of the financial statements as of 30 June
2018 that are likely to have a material effect on the Group's financial
structure.
Rubis ??nergie: fuel products distribution
Rubis ??nergie focused on fuel marketing: petrol station, commercial,
aviation, marine, lubricants, bitumens and LPG.
Geographical breakdown
(fuel marketing)
(in '000 m3) Q4-2018 Change Change Full-year 2018 Change Change
at at
consta consta
nt nt
scope scope
Europe 221 -3% -4% 863 +3% -1%
Caribbean 557 -1% -1% 2,277 +12% +3%
Africa 333 +2% 0% 1,320 +17% +1%
Total 1,110 -1% -1% 4,460 +12% +1%
In fuel marketing, volumes reached 1,110,000 m3 in the fourth quarter:
- Europe: sales volumes dropped 3% to 221,000 m3. Unfavourable weather
conditions dampened the effects of firm commercial momentum and market share
gains;
- Caribbean: sales volumes dipped 1% to 557,000 m3. All positions delivered
a good performance, except Haiti, which was weighed on by procurement
problems;
- Africa: commercial momentum was firm in key segments - LPG, petrol station
and bitumens - but was dented in the last weeks of the year by social unrest
in Réunion, which severely hampered operations on the island. Volumes were
up 2% on 2017 at 333,000 m3.
Total volumes climbed 12% over the full year (+1% at constant scope) to 4.5
million m3.
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 fuel products shipping, trading and
logistics activities. These operations delivered total revenue of EUR255
million (-5%) over the period.
For 2018 as a whole, trading-supply volumes for petroleum products reached
1.6 million m3, making a greater contribution thanks to the volumes
generated by the extension of operations in the Caribbean and Indian Ocean.
Rubis Terminal: bulk liquid storage
Revenue from "bulk liquid storage", reported by Rubis Terminal (excluding
Antwerp) dropped 13% to EUR38 million.
Total storage revenue at Rubis Terminal (incorporating the Antwerp site)
moved down 11% to EUR46 million over the same period:
- in France, the stabilisation of the downtrend in fuel-related revenue
(-9%) was offset by strong growth in other products (+38%). Overall, French
revenue across all products combined moved up by 1%:
. fuel-related revenue was affected by navigation problems on the Rhine,
which had a knock-on effect on terminals located in the East of the country,
the absence of contango, which put off importers/stockists (Rouen-Dunkirk),
and the adjustment to a new competitive position in Rouen,
. other products (+38%) turned in a very good performance, with revenue from
molasses and oilseeds climbing 53%, chemicals revenue rising 37% and
fertiliser revenue growing 31%;
- in the ARA zone (Rotterdam and Antwerp), revenue growth of 10% reflected
firm local demand for petrochemicals with an occupancy rate close to 100%
and an extension of leasing contracts duration;
- in Dörtyol (Turkey), revenue (-82%) continued to be weighed on by a
backwardation and transit operations with the North of Iraq.
Revenue from "fuel products trading" amounted to EUR68 million, with
business picking up pace in the last month of the year.
Next publication:
2018 annual results on 12 March 2019 (after market closing)
Press contact Analyst contact
PUBLICIS CONSULTANTS - Aurélie RUBIS - Financial
Gabrieli Division
Tel: +(33) 1 44 82 48 33 Tel: +(33) 1 44 17 95 33
Regulatory filing PDF file
Document title: RUBIS: 11% revenue growth - stable volumes offset by wider
margins
Document: http://n.eqs.com/c/fncls.ssp?u=IJSJEWPKJM [1]
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: Information on annual revenues
End of Announcement EQS News Service
773739 07-Feb-2019 CET/CEST
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c3773adad38535a769c80042a33306f6&application_id=773739&site_id=vwd&application_name=news
(END) Dow Jones Newswires
February 07, 2019 11:35 ET (16:35 GMT)
