RUBIS: SUSTAINED VOLUME GROWTH: +10% - SALES REVENUE: +1%
(Thomson Reuters ONE) -
Paris, February 9, 2017, 5.45 p.m.
Consolidated revenue for the fourth quarter totaled ?810 million (+1%), with
business volumes maintaining a brisk pace:
* Rubis Énergie recorded volume growth of 10% (+7% at constant scope). This
includes the increase in scope resulting from developments in the Africa
region (Djibouti and South Africa);
* Rubis Terminal's storage revenues (based on 100% of all terminals under
management) were up a strong 9% in the fourth quarter, driven by activity
outside France (+23%).
Among external factors, prices of petroleum products expressed in euros, down
16% across 2016 as a whole, rose sharply in the fourth quarter compared with the
third quarter of 2016 (+30%). Over the year as a whole, unit margins were
generally not sensitive to this price configuration.
Over full year 2016, volumes was up 17% and 5% respectively for Rubis Énergie
and Rubis Terminal. Lower fuels prices resulted in a 3% increase in Group's
sales revenue
+----------------------------------+---------+--------+------------+--------+
| Revenue (in ?M) | Q4-2016 | Change | Total 2016 | Change |
+----------------------------------+---------+--------+------------+--------+
| LPG and fuel distribution | 581 | +7% | 2,153 | +4% |
| Europe | 139 | +13% | 515 | -2% |
| Caribbean | 305 | +5% | 1,143 | -6% |
| Africa | 137 | +7% | 495 | +51% |
+----------------------------------+---------+--------+------------+--------+
| Support and Services | 148 | -20% | 563 | +2% |
+----------------------------------+---------+--------+------------+--------+
| Bulk liquid storage | 81 | +8% | 288 | -2% |
| Bulk liquid storage and services | 34 | +1% | 131 | +2% |
| Trading of petroleum products | 47 | +13% | 157 | -5% |
+----------------------------------+---------+--------+------------+--------+
| Total consolidated revenue | 810 | +1% | 3,004 | +3% |
+----------------------------------+---------+--------+------------+--------+
There were no events after the release of the financial statements on June
30, 2016 liable to significantly alter the Group's financial position, which
remained particulary strong at the end of the year.
Distribution of petroleum products
Rubis Énergie combines all LPG and fuel distribution activities: networks of gas
stations, heating oil, aviation and marine fuel, lubricants, bitumen and LPG.
Geographical breakdown of volumes
(retail distribution)
+------------+-------+------+----------------+----------+------+---------------+
| | | | Change | | | Change |
|In '000 m(3)|Q4-2016|Change| at constant |Total 2016|Change| at constant |
| | | | scope | | | scope |
+------------+-------+------+----------------+----------+------+---------------+
|Europe | 226| +5%| +5%| 829| -1%| -1%|
+------------+-------+------+----------------+----------+------+---------------+
|Caribbean | 407| +6%| +6%| 1,627| +9%| +9%|
+------------+-------+------+----------------+----------+------+---------------+
|Africa | 246| +21%| +11%| 907| +65%| 0%|
+------------+-------+------+----------------+----------+------+---------------+
|Total | 878| +10%| +7%| 3,363| +17%| +5%|
+------------+-------+------+----------------+----------+------+---------------+
In the fourth quarter, retail distribution volumes totaled 878,000 m(3), an
increase of 10%. At constant scope of consolidation, volumes grew by 7%,
prompting the following comments:
* in Europe, volumes sold in retail distribution reached 226,000 m(3), an
increase of 5%, with the climate index for the period returning to a level
consistent with seasonal norms;
* in the Caribbean, distributed volumes totaled 407,000 m(3), an increase of
6%. Growth momentum was strong throughout the year, resulting in further
market share gains;
* the Africa zone posted strong growth to 246,000 m(3) (+21%), an increase of
11% adjusted for scope effects (South Africa and Djibouti). Good growth was
observed in volumes of LPG (+8%) and bitumen in West Africa (+62%), in a
context of deteriorating unit margins for bitumen, resulting from currency
effects.
Over the full year in 2016, retail distribution volumes totaled 3.4 million
m(3), increases of 17% on a real basis and 5% at constant scope.
Support and Services
Support and Services branch includes Sara's revenues (Antilles refinery) and the
shipping, trading and services operations. Sales revenue for the fourth quarter
was down 20% at ?148 million linked to more volatile business and deliveries
shifted from one quarter to the next mainly for bitumen.
Over the full year 2016, trading volumes in global fuels products reached 1,3
million m(3), an increase of 19% compared with 2015.
Bulk liquid storage
Rubis Terminal's overall storage revenues (based on 100% of all terminals under
management) increased by a strong 9% in the fourth quarter, prompting the
following comments:
France: +2%
* the fuel business, which represents 78% of total billings in France, was up
3%, while in a broader French market consumption of petroleum products was
up 1.5% during the period;
* other products (22% of billings in France) enjoyed a better trend in the
fourth quarter, notably chemicals (+7%), and molasses and oilseeds (+8%),
while fertilizers remained at a high level.
Outside France: +23%
* the Rotterdam depot posted overall revenues down 8% following the renewal of
spot contracts in chemicals, while heavy fuel revenues increased by 2%. 80%
of the new capacity built in 2016 is now contracted;
* the Antwerp and Ceyhan (Turkey) depots, whose revenues are not fully
consolidated (equity method), recorded strong growth in both chemicals for
Antwerp (+26%) and petroleum products in Turkey (+46%).
Over the same period, trading revenue amounted to ?47 million (+13%), and ?157
million (-5%) over the full year.
Over the full year in 2016, consolidated storage revenues totaled ?131 million
(+2%).
Upcoming events:
2016 annual results on March 13, 2017 (after market)
Press Contact Analysts Contact
PUBLICIS CONSULTANTS - Aurélie GABRIELI RUBIS - Finance Department
Tel: +33 (0) 1 4482 4833 Tel: +33 (0) 1 4417 9595
Download:
http://hugin.info/143569/R/2077368/781470.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RUBIS via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.02.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 523247
Anzahl Zeichen: 8272
contact information:
Town:
PARIS
Kategorie:
Business News
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