The growth in Rubis’ business activities continued in the 3rd quarter: +7% in volume and +3% on a comparable basis. In line with the first six month results, the Group has maintained an appropriate global margin level for the period.
The fall (-30%) in sales revenue to 222 million euros for the 3rd quarter is a result of lower from lower nominal petroleum product prices since September 2008, but has no impact on the Group’s financial performance.
Rubis is favoured by good market dynamics and is continuing its development by consolidating its commercial positions (new contracts and increased market share) and local logistics, and increasing its industrial presence: petrochemical handling terminals in Antwerp and Rotterdam.
| Sales revenue in million of euros | 3rd Quarter 2009 | Year-to-Date at 30 September | ||
| 2009 | % Change | 2009 | % Change | |
| RUBIS ENERGIE | 179.6 | -20% | 547.8 | -16% |
| Europe | 75.1 | -2% | 246.2 | +2% |
| Caribbean | 90.7 | -30% | 261.7 | -27% |
| Africa | 13.8 | -13% | 39.9 | -15% |
| RUBIS TERMINAL | 42.2 | -56% | 131.1 | -39% |
| Liquid products storage | 21.7 | +8% | 63.6 | +14% |
| Wholesale activity | 20.5 | -73% | 67.5 | -58% |
| Total consolidated sales revenue | 221.8 | -30% | 678.9 | -21% |
LPG AND PETROLEUM PRODUCT DISTRIBUTION: RUBIS ENERGIE
Volumes distributed by Rubis Energie in the third quarter totalled 182,000 tonnes-m3, an increase of 12%, including 100,000 of LPG distribution (+6%) and 82,000 m3 (+20%) of petroleum product distribution (gasoline, diesel fuel .); on a like-for-like basis, retail distribution volumes for all products totalled 150,000 tonnes-m3 (-1.6%).
– Europe: LPG retail distribution volumes amount to 56,000 tonnes for a third quarter that was structurally low from a consumption perspective and not truly representative of the year’s trend (summertime and low agricultural tonnage).
The petroleum product distribution business for the Channel Islands represents 23,000 tonnes of fuel oil.
– Caribbean (Antilles – Guiana – Bermuda): Volumes sold were up 4% to 65,000 tonnes-m3, split into 59,000 m3 (+5%) for petroleum products (service station networks and direct sales of marine diesel, fuel oil, lubricants and bitumen) and 5,800 tonnes (+2%) for LPG.
– The Africa region posted LPG retail distribution volumes of 18,000 (-7%): a temporary fall in Morocco and good growth in Senegal and Madagascar. Liquid PRODUCT storage: Rubis Terminal
In the third quarter, the main business activity at the RUBIS TERMINAL, storage of liquid products, continued to grow with revenues up 8% to 22 million euros. Excluding the contribution of the Rotterdam terminal, revenues have increased by 4%, with good growth in volume for all segments.
For the same period, wholesale revenues totalled 20 million euros: the impact of the fall in volumes and nominal prices, with no impact on results.
Next update: 4th Quarter financial results on 8 February 2010
Press Contact PUBLICIS CONSULTANTS – Véronique DUHOUX Tel: 01 57 32 88 96
Analysts RUBIS-Bruno Krief Tel: 01 44 17 95 95