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REGULATED INFORMATION

Correction: rubis: net profit: +44% – excellent performance driven by organic growth and acquisitions

This is a correction of the announcement from 17:45 09.03.2016 CET. Reason for the correction: wrong attached document
FULL-YEAR 2015 RESULTS

 March 9, 2016

  

During its meeting held on March 8, 2016, the Board of Management has finalized the 2015 financial statements, which were approved by the Supervisory Board during the meeting on March 9, 2016. The Statutory Auditors are in the process of issuing an unqualified report thereon.

In an unstable international environment, the Group has managed to generate a solid organic growth, which, combined with a policy of targeted acquisitions, allowed it to post strong earnings growth.

Net profit Group’s share increased by 44 % overall, once again demonstrating the strength of the Group’s preferred “multi-local” growth model.

This sound performance will allow the Rubis to propose at the next Shareholders’ Meeting the payment of a dividend of €2.42 per share, an increase of 18%.

(in €M) 2014 2015 Change Change at CP
Revenue 2,790 2,913 +4% -7%
Gross operating profit (EBITDA) 233 345 +48% +18%
Current operating profit (EBIT) 167 240 +44% +15%
 Of which Rubis Énergie 97 153 +58% +31%
 Of which Rubis Support and Services 22 51 +126% +25%
 Of which Rubis Terminal (incl. share of associates) 63 58 -7% -7%
Net profit, Group’s share 118 170 +44% +9%
Cash flow 177 261 +47%
Capex 111 143
Earnings per share (diluted) €3.03 €4.06 +34%
Dividend per share €2.05 €2.42 +18%

We highlight the high quality of the earnings, as evidenced by the strong growth in cashflow generation (+47%), which, combined with a €179 million reduction in working capital requirements resulting from lower oil prices and dynamic management of current assets, left the Group with a particularly robust and liquid financial structure (20% leverage), even after cumulative investments and acquisitions of close to €600 million.

A particularly sound balance sheet will help the Group to actively pursue its growth and acquisition strategies.

 

The main external factors that marked the fiscal year can be summarized as follows:

  • historically unfavorable weather in the fourth quarter, impacting volumes in Europe;
  • continued volatility of oil prices, down sharply for the second consecutive year, generating gains in purchasing power for customers together with a favorable pricing structure for distributors;
  • a somewhat gloomy economic situation in France, where 40% of earnings are generated.

Meanwhile, the Group consolidated new acquisitions in Réunion (SRPP), West Africa (Eres) and Djibouti (distribution assets) and obtained majority control of SARA (refinery in the Antilles), in addition to €143 million of capital expenditures split between facilities maintenance, support for market share gains and construction of new sites.

 

 PETROLEUM PRODUCTS’ DISTRIBUTION

In 2015, with volumes of 2.9 million cbm, final distribution of LPG and petroleum products was up by 21% (+4% at constant perimeter). The uniformly strong growth (combined effect of growth in volumes and unit margins) prompts the following comments:

  • Europe experienced fast growth (EBIT: +43%) characterized by positive margin effects, unfavorable weather conditions and market share gains;
  • the Caribbean also performed well (EBIT: +47%), reaping the benefits of a dynamic commercial policy and the resumption of management in the Bahamas-Jamaica region;
  • Africa recorded a 130 % increase in EBIT, with organic growth of 57% (unit margin and product mix effects), the remainder coming from changes in the perimeter of consolidation (Réunion, Djibouti and West Africa). The recovery of the situation in Southern Africa, after restructuring carried out by the new management, was also a contributing factor.

 

SUPPORT AND SERVICES

Rubis Support and Services, which now covers refining activities (SARA) and logistics-supply (trading, shipping), delivered EBIT of €50.7 million (compared with €22.5 million in 2014).

Since June 2015, SARA, which is now fully consolidated, has operated in a context of regulated profitability, disconnected from the global oil market environment. The supply-shipping activity in the Caribbean had an excellent year recording a 25% growth at constant perimeter.

The acquisition of Eres operations, active in supply, trading and shipping of fuels and bitumen significantly contributed to the expansion over a worldwide scope.

 

BULK LIQUID STORAGE

Total revenue of storage sites increased by 6% (including all associates sites).

Adjusted for the positive contribution of non-recurring items in 2014, EBIT edged down by 2%, breaking down as:

  • a decline of 10% for activity in France, marked by a somewhat gloomy economic climate, with chemicals short of expectations and edible oils in the last phase of their adjustment; and
  • a significant growth outside France (+74%) driven by the equity-accounted subsidiaries Antwerp and Delta Rubis (Turkey).

In 2016, Rubis intends to pursue its industrial expansion, with an investment budget of €146 million.

 

The Group is confident in its ability to continue to generate organic growth and continue its acquisition policy.

 

Rubis, listed on Euronext Paris, operates in bulk liquid storage, the petroleum products’ distribution (fuel, LPG, bitumen) and the support and services’ activities (refining, supply, shipping) with a targeted geographical-business approach and a multi-local market positioning.

Upcoming events:

First-quarter 2016 revenue: May 10, 2016 (after market closing)

 

Press Contact 
PUBLICIS CONSULTANTS – Aurélie GABRIELI 
Tel.: +33 (0) 1 44 82 48 33
Analysts Contact
RUBIS – Bruno Krief
Tel.: +33 (0)1 44 17 95 95

Contacts

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Personal data

PERSONAL DATA PROTECTION POLICY

Last update: 13/11/2019

Rubis SCA (hereinafter referred to as “Rubis”) attaches great importance to the protection of your personal data (hereinafter referred to as “Personal Data”), which refers to any information relating to an individual, provided voluntarily by them or collected as part of their browsing on the website www.rubis.fr (hereinafter referred to as “the Website”).
The purpose of this notice is to describe how Rubis processes Personal Data collected when you use the www.rubis.fr website and to inform you of your rights under data protection regulations.

1. Purpose of collecting Personal Data and retention period

  • Financial communications mailing list
    Rubis collects Personal Data (gender, surname, first name, email address, country of residence, language) via the online form that allows you to subscribe to its financial communications email list. The Personal Data collected is kept for as long as you are subscribed to this mailing list and is archived in accordance with current regulations.
    You can unsubscribe from the financial communications mailing list by clicking on the dedicated hypertext link at the end of the e-mails.
  • Cookies
    In order to offer you a better service, Rubis compiles statistics and measures the audience for the Website. To enable statistical analysis, the Website provider uses the services of etracker GmbH, which installs cookies (small text files stored by the Internet browser on the user’s device). Data generated with etracker GmbH is processed and stored exclusively by etracker GmbH. It is processed in accordance with Article 6 of the General Data Protection Regulation.
    A window is automatically displayed when you first log on to the Site detailing the types of cookies installed and allowing you to select those whose use you accept. Please note that cookies may be stored temporarily (for as long as your web browsing session is open), or may have a longer lifespan, depending on their settings and those of your web browser.
    You may refuse to accept cookies (although their non-installation may limit certain functions of the Site). The configuration of browsing tools for this purpose is described by the Commission Nationale de l’Informatique et des Libertés (CNIL), at the following address (french only): https://www.cnil.fr/fr/cookies-et-autres-traceurs/comment-se-proteger/maitriser-votre-navigateur

2. Recipients of Personal Data

The Personal Data collected is processed by Rubis or, where applicable, by a service provider bound by contract to respect its confidentiality and security and to use it only for the purposes of the task entrusted to it. Rubis undertakes not to sell, rent or transfer it to third parties.

3. Storage and hosting of Personal Data

Personal Data collected by Rubis is stored and hosted on secure servers located in the European Union.

4. Security of Personal Data

Rubis implements appropriate measures to preserve the security, confidentiality and integrity of Personal Data, in particular to prevent it from being distorted, damaged or accessed by unauthorised third parties.

5. Enforceable rights with regard to the protection of Personal Data

The regulations give you the following rights with regard to your Personal Data:

  • a right of access, rectification and deletion;
  • the right to object to or limit the collection of personal data;
  • a right to portability ;
  • the right to determine what happens to your data after your death;
  • the right to lodge a complaint with a supervisory authority.

For more information, visit the following page on the CNIL website (french only): https://www.cnil.fr/fr/les-droits-pour-maitriser-vos-donnees-personnelles .

6. Contact

You can contact Rubis at the following address: communication@rubis.fr.

Legal information

Last update: 3/11/2023

IDENTIFICATIONS

Website publisher: RUBIS SCA, hereinafter the “Company”

SCA with share capital of 128,691,957.50 euros

Registered office: 46, rue Boissière – 75116 Paris, France
784 393 530 RCS Paris

LEI code: 969500MGFIKUGLTC9742

VAT number: FR 81784393530

Tel: +33 (0)1 44 17 95 95

Director of publication: Jacques Riou

Technical designer of the website: Agence TAKA (https://wearetaka.com/)

Limited liability company (SARL) with capital of €5,500

Registered office: 2 place Jules Gévelot – 92130 Issy les Moulineaux, France
512 910 704 RCS Nanterre

VAT number: FR75512910704

Tel: +33 (0)1 74 31 35 50

Website host: EQS Group AG

Registered office: Karlstraße 47 – D-80333 Munich, Germany

Tel: +49 (0) 89 210298-0

Fax: +49 (0) 89 210298-49

E-mail: contact@eqs.com

PURPOSE OF THE WEBSITE AND UPDATES

The purpose of the www.rubis.fr website is to provide all interested parties (hereinafter referred to as “users”) with information on the activities and results of the Company and the companies it directly or indirectly controls within the meaning of French law. The website, including this legal notice, may be updated at any time.

INTELLECTUAL PROPERTY

The information and documents available on the website (including the texts, images, photographs, videos, sounds, databases, company names, logos, products and brands mentioned) are either the exclusive property of the Company or one of the companies it controls, or are subject to rights of use, reproduction and representation or copyrights. Any reproduction, representation or use is prohibited without the express authorisation of the Company.
Copyright of images produced on the website:
© Gilles Dacquin
© Rubis group photo library

RSS FEED

Users can access information available on the website via an RSS feed. The use of this right is granted by the Company for individual and non-commercial purposes only, provided that the website URL is clearly mentioned.

PROTECTION OF PERSONAL DATA AND COOKIES

Rubis may need to collect your personal data in order to respond to a request from you. This data is processed by Rubis or, where applicable, by a service provider bound by contract to respect its confidentiality and security and to use it only for the purposes of the assignment entrusted to it. Rubis undertakes not to sell, rent or transfer it to third parties.

In accordance with current regulations, you have the right to access, rectify, delete and object to your personal data.

In order to offer you a better service, Rubis compiles statistics and measures the audience for the Website. To enable statistical analysis, the Website provider uses the services of etracker GmbH, which installs cookies (small text files stored by the Internet browser on the user’s device). Data generated with etracker GmbH is processed and stored exclusively by etracker GmbH. Data is processed in accordance with Article 6 of the General Data Protection Regulation.

We inform you so that you may refuse to accept these cookies. However, the non-installation of a cookie may limit certain functions of the Site. The configuration of the navigation tools is described at https://www.cnil.fr/fr/cookies-les-outils-pour-les-maitriser .

WARNING

The Company declines all responsibility:

  • in the event of imprecision, inaccuracy or omission concerning information or documents available on the website, including computer links (hypertext links, etc.) used by or referring to the website;
  • in the event of direct or indirect damage, whatever the causes, origins, nature or consequences, resulting from access to the website or the impossibility of accessing it, from its use or from the credit given to any information or document originating directly or indirectly from the website (these in no way constituting an invitation to invest, a form of canvassing or a public offer of financial instruments).

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In accordance with the General Data Protection Regulation, you have the right to access, rectify and delete your data by contacting us at communication@rubis.fr and by clicking on the unsubscribe link in communications.

You have the right to access, modify, rectify and delete data concerning you (French Data Protection Act of 6 January 1978). To exercise this right, all you have to do is unsubscribe from your subscriber file or make a request by e-mail to the company Actusnews Wire, provider of the “Publication Alert” service

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