RUBIS posted turnover of €188.5 million in the first quarter of 2006, up 97%.
Adjusting for Rubis Antilles Guyane (RAG), which was consolidated for the first time in December 2005, turnover rose by 26%. All Group divisions recorded sharp volume increases.
| Turnover in € millions (quarter ended 31 March) | 2006 | 2005 | Change |
| RUBIS ENERGY | 132.9 | 55.4 | + 139.6% |
| France | 55.4 | 48.1 | + 15.2% |
| Antilles Guiana | 67.4 | – | n/a |
| Africa | 10.1 | 7.4 | + 37.0% |
| RUBIS TERMINAL | 55.5 | 40.4 | + 37.5% |
| Liquid products storage and services | 14.7 | 13.1 | + 12.3% |
| Petroleum products trading | 40.9 | 27.3 | + 49.6% |
| Total consolidated turnover | 188.5 | 95.9 | + 96.6% |
LPG DISTRIBUTION AND PETROLEUM PRODUCTS – RUBIS ENERGY
(formerly « RUBIS GAZ »)
LPG distribution volume increased by 10.4%, with end distribution of 67,600 tonnes, and by 2.7% at constant consolidation (excluding RAG).
In France, the key feature of the first quarter was extremely high energy prices and a somewhat cold winter (climate index up 3.3%) resulting in a volume increase of 0.4%. Sales of LPG fuel surged 33%, boosted by the new supply agreement for the BP network, which has been operational since January 2006 (see press release dated 11 January 2006).
Rubis Antilles Guyane was consolidated for the first time contributing €67.4 million of turnover including €17.6 million from RAG’s 24% equity interest in SARA. Volumes of petroleum products sold (excluding LPG) reached 47,000 cubic metres divided among the network of service stations and direct sales of marine diesel, fuel oil, lubricants and bitumen.
LPG tonnage for Africa came in at 20,300 tonnes, representing an overall volume increase of 7.9%, bolstered by buoyant sales of residential bulk in Morocco, business bulk and third party sales in Madagascar.
LIQUID PRODUCTS STORAGE – RUBIS TERMINAL
Turnover rose by 37.5%, driven largely by a sharp 49.6% increase in the « Petroleum Products Trading » business due to a combination of a rise in nominal prices and an increase in diesel volumes.
Storage and Services, the principal business, enjoyed sustained growth of 12.3%, fuelled by an increase in diesel imports due to new tax regulations for bio-fuels (e.g. diester) and brisk trading in imports of vegetable oils that were also due to growth in the bio-fuels division.
Next trading update: Ordinary General Meeting on 13 June 2006
Press contact
COMFIDANCE – Annie FOURNIER
Tel: +33 (0)1 56 21 20 14
a.fournier@comfidance.com
Analysts contact
RUBIS – Bruno KRIEF
Tel: +33 (0)1 44 17 95 95