RUBIS : FIRST-QUARTER 2013 SALES REVENUE UP 13%
May 14 2013 - 10:44AM
May 14, 2013
Sales revenue for the first quarter of 2013 was
€787 million (+13.4%).
- For Rubis Energie, sales revenue increased by
17% to €685 million. Volumes included the expansion of the scope of
consolidation resulting from acquisitions in the Caribbean, and
were up 19% overall (+1.3% at constant scope);
- Rubis Terminal posted storage revenue of €31.2 million, marked by
higher petroleum revenue in France (+8%),
despite a decline in consumption, strong revenue growth in Northern
Europe (+20%) and an anticipated decline in revenue in Turkey
(Delta Rubis) in conjunction with an unfavorable oil price
structure (no contango).
Overall, the period was characterized by erratic
weather in Europe, supply constraints in the Caribbean and a
pronounced drop in supply prices (-14% for propane) resulting in a
favorable profitability profile.
Since the beginning of the year, the Group's scope
has been expanded, with the acquisition in Jamaica (distribution of
petroleum products) on December 31, 2012, and the consolidation of
the storage site of the former Reichstett refinery (February
2013).
There have been no events since the beginning of
the year liable to significantly alter the Group's financial
position, which remained strong at the end of the quarter.
|
First
quarter |
Sales revenue (in € millions) |
2013 |
Change |
RUBIS ENERGIE
Europe
Caribbean
Africa |
685.5
188.5
454.8
42.2 |
+17%
-13%
+41%
-8% |
RUBIS TERMINAL
Bulk liquid storage
Trading of petroleum products |
101.4
31.2
70.2 |
-6%
0%
-8% |
Total consolidated sales
revenue |
786.9 |
+13% |
RUBIS ENERGIE: Distribution
of LPG and petroleum products
Volumes distributed by Rubis Energie over the
period totaled 606,000 m3, an increase
of 19%. At constant scope of consolidation, volume growth was
1.3%.
Geographical
breakdown of volumes:
(Retail distribution)
In
'000 m3 |
Q1-2012 |
Q1-2013 |
Change |
Change
at const. scope |
Europe |
221 |
196 |
-11% |
-2.2% |
Caribbean |
209 |
339 |
+62% |
+1.2% |
Africa |
78 |
71 |
-9% |
+10.6% |
TOTAL |
508 |
606 |
+19% |
+1.3% |
-
Europe: as a result of particularly erratic weather
conditions, volumes were down 2.2% at constant scope. Business
momentum (signature of new contracts) remained favorable over the
period: the return to normal winter temperatures and the easing of
supply prices - which continued in April - allowed the division to
demonstrate its capacity to rebound in terms of profitability.
-
Caribbean: volumes sold totaled 339,000 m3, an increase
of 1.2% at constant scope (Jamaican operations have been
consolidated since January 1, 2013 and the Bahamas region
consolidation took effect in May 2012). Supply conditions, which
were constrained at the beginning of the period due to the shutdown
of refineries in the area, improved in April. The "Supply" business
(Shipping - Trading) continued to grow steadily.
-
Africa: volumes at constant scope (excluding Senegal,
sold) grew by a strong 10.6%, driven in particular by the Southern
African region and Madagascar.
RUBIS TERMINAL: Bulk liquid
storage
Rubis Terminal's main activity, storage, recorded
revenues of €31.2 million.
In France, revenues
from all products increased by 1%:
- good performance in petroleum: amid declining consumption of petroleum
products, petroleum billings increased
by 8%, and by 2% excluding revenues of the Reichstett site
(consolidated since February 2013);
- fertilizer revenues were
down, due mainly to seasonal delay;
- edible oil revenues
declined as a result of product supply constraints and the
reorganization affecting customers logistics;
- chemical revenues
increased by 3%.
Strong growth in the ARA
zone (Antwerp - Rotterdam - Amsterdam): revenues increased
by 20% to €6.2 million thanks to the marketing of new capacity on
the Antwerp and Rotterdam sites and the full utilization of
chemical product capacity.
Turkey: pier
expansion and construction work continues. The terminal, which is
now mainly focused on oil trader clientele,
suffered from the absence of contango over the period. The
situation changed dramatically at the end of the period, with the
profile again becoming favorable. The first contract for the
leasing of new maritime bunkering capacity
was implemented during the quarter.
Wholesale revenue was €70
million, an outcome attributable partly to the decline in oil
prices without effect on profitability.
Upcoming events:
Annual and Extraordinary
Shareholders' Meeting on June 7, 2013
2013 Half-year results on
August 29, 2013 (at Bourse closing)
Press Contact
PUBLICIS CONSULTANTS - Lise
Ardhuin
Tel.: +33 (0) 1 44 82 46 95 |
Analyst Contact
RUBIS - Bruno Krief
Tel.: +33 (0)1 44 17 95 95 |
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