Paris, 8 February 2018, 5.35 p.m.
VOLUME GROWTH SUSTAINED: UP 23%
TURNOVER: UP 37%
In the fourth quarter of 2017, consolidated turnover reached EUR1,110m (up 37%) with a business volume which continued at a sustained pace:
Unit margins for Rubis Énergie remained stable overall, despite a slowdown in Europe, against a backdrop of sharply rising petroleum product prices (propane: up 50% over 12 months and up 25% compared to the third quarter) again demonstrating the model's strong resilience.
The entire 2017 financial year showed excellent performance with overall volumes up by 19% at Rubis Énergie and 11% at Rubis Terminal. In total, Group turnover was up 31%.
It is reminded that aside from announced acquisitions, Rubis Terminal Petrol (Turkey), Dinasa (Haiti), Galana (Madagascar), Repsol (Portugal), Euro Garages (Corsica) and FCG (Iran), there were no events that could have materially altered the Group's financial structure, which remained solid at the end of the quarter.
Rubis Énergie combines all LPG and fuel distribution activities: networks of gas stations, heating oil, aviation and marine fuel, lubricants, bitumen and LPG.
Geographical distribution of volumes
In the fourth quarter, retail distribution volumes reached 1,118,000 m3, an increase of 27%. At comparable structure and scope, volume growth was up 1%:
For the 2017 financial year as a whole, retail distribution volumes reached 4 million m3, up by 19% at actuals and 3% like for like.
The Support and Services activity includes Sara's turnover (French Antilles refinery) and all shipping and trading/supply activities. Turnover in the fourth quarter rose 81% to EUR268m.
Over the 2017 financial year as a whole, trading/supply volumes for fuel products reached 1.9 million m3, up 46% over 2016, thanks to the volumes contributed by the extension of activities in the Caribbean and Indian Ocean new supply contracts.
In the fourth quarter, rental revenues from "bulk liquid services and storage", reported by Rubis Terminal (excluding Antwerp) reached to EUR44m, up by 27% (+3% like for like).
Over the same period, Rubis Terminal's overall storage revenue (including 100% of Antwerp) showed strong growth (up 8%):
- oil revenue, which represents 79% of total invoicing in France, was up by 2%, a strong performance in a French market, where the consumption of fuel products was down by 2%;
- for other products (21% of invoicing in France), a strong trend in the fourth quarter is reported, particularly in chemicals (up 8%) and molasses/edible oil (up 15%), whereas the sequencing of fertilizer revenue shows a downward movement over the period (-17%).
- Rotterdam and Antwerp terminals showed overall revenue up by 31%, related to the strong performance of contracts for chemicals;
- the Ceyhan (Turkey) terminal stabilised its growth in fuel products (up 9%).
Over the same period, trading turnover was EUR40m (down 15%), with no significant impact on profits.
2017 annual results on 15 March 2018 (after the close of trading)
Regulatory filing PDF file
Document title: CAT4_2017_08.02.2018_UK
|105, avenue Raymond-Poincaré|
|Phone:||+33 144 17 95 51|
|Fax:||+33 145 01 72 49|
|AMF Category:||Information on annual revenues|
|End of Announcement||EQS News Service|
648807 08-Feb-2018 CET/CEST