During the third quarter 2008, under rather depressed global economic conditions, Rubis posted strong increase in volumes and maintained sound margins.
Rubis sales-turnover for cumulated 9 months 2008 reached 863M€, up 46% on 2007 level. During the period Rubis Energie traded volumes were up 2% (on same structure) while Rubis Terminal rental-revenues were up 15%.
The Group has experienced a good commercial dynamic with new contracts and market share gains across its business worldwide and is developing its positions locally. The Group has also launched the construction of its petrochemical Terminal in Antwerp.
The sharp downturn in oil price which has accelerated during the fourth quarter is giving a boost to Rubis, as it relieves the pressure on the consumer’s energy budget.
Third Quarter 2008 | Cumulative 9 months | |||
at 30 September 2008 | ||||
Consolidated sales-revenues in M€ | 2008 | Change | 2008 | Change |
RUBIS ENERGIE | 223,2 | +28% | 648,3 | +35% |
Europe | 77 | +31% | 240,8 | +84% |
Caribbean | 130,3 | +27% | 360,8 | +16% |
Africa | 15,9 | +26% | 46,8 | +17% |
RUBIS TERMINAL | 95,7 | +152% | 214,8 | +95% |
Liquid storage and services | 20,1 | +19% | 55,5 | +15% |
Petroleum product trading | 75,6 | +258% | 159,3 | +156% |
Total consolidated sales-revenues | 319 | +51% | 863,1 | +46% |
LPG and petroleum products distribution: Rubis Energie
Volumes during the third quarter reached 154 000 tons-m3, up 10%, of which 86 000 tons of LPG (+2%) and 68 000 m3 (+22%) of fuels; at constant perimeter, total distribution volumes were up 2% at 142 000 tons-m3.
– Europe: retailed LPG volumes were up 2% at 59 000 m3 during the quarter which is structurally a low intensive period. France was up 1% and Germany experience a sharp increase (+59%) in buoyant Autogas segment.
Fuels distribution in the Channel Island is integrated in Rubis accounts since September 1st.
– The Caribbean (French Antilles and Guyana and Bermuda ): Retailed volumes reached 62 000 tons-m3 (+1%) split between 57 000 m3 (+1%) in fuels (petrol stations, marine fuels, lubricants and bitumen) and 5 700 tons of LPG.
– Africa: Rubis’ LPG volumes were up 5% at 20 000 tons, with Morocco up 14%, representing half of the activity.
Bulk liquid products: Rubis Terminal
During third quarter 2008, sales-revenues were up 152% linked with the sharp increase in the fuel Wholesale activity (+258%), but only marginally contributive to the group’s profit.
The main activity of this branch is the bulk liquid storage segment which has recorded a solid progress (+19%) including the newly commissioned Rotterdam Terminal. Agricultural liquids business maintained solid progress (fertilizers, molasses and edible oil) while fuels rental revenues were up 8%.
Next trading update: 4Q 2008 turnover on 10 February 2009
Press Contact COMFIDANCE- Véronique Duhoux Tel : +33 1 56 21 20 19 v.duhoux@comfidance.com
Analyst Contact RUBIS – Bruno Krief Tel : +33 1 44 17 95 95