EXCELLENT HALF-YEAR PERFORMANCE
NET PROFIT FOR ONGOING BUSINESSES: + 47%
INTEGRATION OF ANTILLES GUYANA
AND CONTINUED ACQUISITIONS
13 September 2006
In an economic environment still experiencing strong volatility, RUBIS recorded excellent commercial and economic performance and continues to pursue its expansion policy.
The half-year financial statements include the contribution of RUBIS ANTILLES GUYANA, the result of the sale of the Italy LPG division and the impact of taking 100% control of Vitogaz; the net result for ongoing business rose by 47%, of which 15% was organic growth.
| In millions OF euros | 30 June 05 | 30 June 06 | Change % | Change in % |
| at constant consolidation | ||||
| Turnover | 169.4 | 368.5 | 118% | 15% |
| Current Operating Result | 18.7 | 25.9 | 38% | 11% |
| Net result for ongoing business | 11.5 | 16.8 | 47% | 15% |
| Net result, Group share (*) | 10.0 | 20.0 | 99% | 63% |
| Capacity for self-financing | 17.8 | 26.6 | 49% | 11% |
| Industrial investments | 9.8 | 18.0 | Na | – |
(*) including net result for discontinued activities (Italy division)
Rubis ENERGIE (Distribution of petroleum products)
The current operating result (COR) of the division reached EUR 17.3M, a rise of 41%.
In a period of historically high energy prices, Rubis Energie continues to gain new market share. Global volumes of LPG rose by 1%. The gross unit margin for LPG in France was maintained at a good level.
The Africa area experienced a sharp rise in profitability with volumes up by +6%. To this excellent performance we must add the successful integration of Antilles Guyana where the results met expectations. The takeover of the 107 BP LPG fuel-stations in France and the announcement of the acquisition of Shell Bermuda, which is expected during the month of October, constituted the major external developments of the half-year.
Rubis Terminal (Stocking of liquid products)
Continuing its 2005 performance, Rubis Terminal scored a record half-year thanks to its port reception installations on the Atlantic and Channel and on the Rhine, where the flow of imports of petroleum and oils was intense. This phenomenon is mainly linked to the development of the bio-fuels sector, in which Rubis Terminal occupies a key position. This excellent business is reflected by a COR up by EUR 11.8M for the half-year, a rise of 31% for an increase in receipts of 15%.
The development projects in Northern Europe are entering the active stage with the start-up of engineering works at the Rotterdam depot (80,000 m3 of chemical and petroleum products). Investments amounted to EUR 40M.
At the end of this first half-year, the financial situation of the Group is solid (debt ratio of 15%) thus making possible the continuation of an expansion policy based on organic growth and acquisitions.
Next meeting on 9 November 2006: turnover for the 3rd quarter of 2006
Contact Presse
COMFIDANCE – Annie FOURNIER
Tél : 01 56 21 20 14
Contact Analystes
RUBIS – Bruno KRIEF
Tél : 01 44 17 95 95