RUBIS posted €272 million in revenue for the first quarter of 2008, up 40% over 2007. At constant scope, revenue growth reached 15%.
The highlights of the first quarter of 2008 included:
– Rubis Energie: Market share gains and healthy margins. Good integration of the LPG Europe businesses acquired in mid-2007, and favourable business trends in the Caribbean and Africa;
– Rubis Terminal: Volumes up 5%; first vessels berthed in the Rotterdam Terminal, inaugurated 5 May.
– Continued investment at Rubis Terminal: launching of the extension (phase 2) of the Rotterdam site, and engineering at the Antwerp terminal.
| First quarter 2008 | ||
| Revenue (€ million) | 2008 | Change |
| RUBIS ENERGIE | 217.3 | 41% |
| Europe | 89.6 | 106% |
| Caribbean | 111.8 | 17% |
| Africa | 15.9 | 11% |
| RUBIS TERMINAL | 54.7 | 33% |
| Bulk liquid storage | 16.3 | 5% |
| Petroleum product trading | 38.4 | 50% |
| TOTAL CONSOLIDATED REVENUE | 272.1 | 40% |
LPG and petroleum products distribution: Rubis Energie
The volumes distributed by Rubis Energie over the period were 180,000 tonnes and m3, up 25%. This broke down as 125,000 tonnes of LPG (+41%) and 55,000 m3 (-1.7%) for the distribution of petroleum products (petrol, diesel, etc.): at constant scope, final distribution volumes for all products were stable (+1%) at 118,000 tonnes and m3.
– Europe: retail distribution volumes of LPG reached 78,000 tonnes. Volumes achieved in France, which represents 46%, were up 2.4%, revealing further market share gains in the main segments: bulk, LPG-fuel and bottled. The process of integrating the European subsidiaries acquired in mid-2007 has continued, and in the first quarter represented 49,000 tonnes of LPG distribution, o/w 42,000 tonnes of retail distribution.
– Caribbean region (Antilles – French Guiana – Bermuda): Volumes sold total 61,000 tonnes and m3, broken down into 6,000 tonnes of LPG and 55,000 m3 of petroleum products: network of service stations and direct sale of marine diesel, fuel oil, lubricants and bitumen. The period was notable for the continued expansion of the service-station network and further market share gains.
– In Africa, retail distribution volumes of LPG grew 6.5% (22,000 tonnes). Morocco was responsible for half of African volumes, with growth of 8% moving in the right direction. Bulk Liquid Storage: Rubis Terminal
Revenue for the branch grew 33%, along with strong revenue growth in the petroleum products trading business (50%). This trading business typically makes only a marginal contribution to the company’s overall earnings.
The main activity of the RUBIS TERMINAL division, bulk storage, continued to grow with revenues up 5%. Petroleum revenues were stable compared with the high levels of the first quarter of 2007. We have also seen strong growth in foodstuffs (edible oils and molasses) and a good start for fertiliser and chemicals.
Next trading update: Ordinary AGM, 12 June 2008
Press Contact COMFIDANCE – Annie FOURNIER Tel: 01 56 21 20 14 a.fournier@comfidance.com
Analyst Contact RUBIS-Bruno Krief Tel: 01 44 17 95 95