RUBIS: NET INCOME UP 10% - CONFIDENCE IN THE CONTINUATION OF GROWTH
2013年8月30日 - 12:45AM
August 29, 2013
The Company's Supervisory Board, which met on
August 29, has approved the financial statements for the six months
ended June 30, 2013.
The first half was characterized by healthy growth
in sales and earnings:
- translated
into volumes, the 11% growth in nominal sales revenue included
increases of 18% in tonnages sold by Rubis Energie and 5% in
storage revenues at Rubis Terminal;
- sales growth
resulted in a 10% increase in net income, Group share, following a
39% increase in 2012.
Key figures
for the first half of 2013
As of June
30 (€ million) |
2012 |
2013 |
Change |
Sales revenue
EBITDA
Current operating income (EBIT)
Of which Rubis Energie
Of which Rubis Terminal
Net income, Group share
Cash flow
Capital expenditure |
1,364.5
105.6
78.5
55.0
29.2
50.4
75.9
50.2 |
1,520.7
115.9
86.2
64.0
27.4
55.5
83.8
58.4 |
+11%
+10%
+10%
+16%
-6%
+10%
+10%
- |
The homogeneity of growth in EBITDA, EBIT and net
income, as well as cash flow (+10%), is testimony to the quality of
the Group's results.
Capital expenditure of €58 million accompanied market share growth
and included facility maintenance and the continuation of major
construction projects (Northern Europe and Turkey).
The first half was marked by the
integration of new scopes: Jamaica for Rubis Energie and the
storage site at the Reichstett refinery (Alsace) for Rubis
Terminal. The half-year also saw the finalization of discussions
with BP for the acquisition of its LPG distribution business in
Portugal (announced onAugust 1).
Total shareholders' equity was
€1,043 million, highlighting the Group's robust financial structure
(net debt: €340 million). The Group also has confirmed lines
of credit and lines of capital available to finance new
developments. The investment undertaken in Portugal will be
partially refinanced by a capital increase planned before the end
of the year.
Rubis
Energie (EBIT +16%):
distributed volumes totaled 1,197,000 m3, an
increase of 18% (+6% at constant scope).
Change in
volumes traded by area
(final distribution - excluding SARA)
In '000
m3 |
2012 |
2013 |
Chg. in % |
Chg. at const. scope |
Europe |
394 |
364 |
-8% |
1% |
Caribbean |
452 |
686 |
52% |
11% |
Africa |
170 |
147 |
-13% |
3% |
TOTAL |
1,016 |
1,197 |
18% |
6% |
The growth in Rubis Energie's EBIT (+16%) was
attributable to:
- excellent performances in Europe (+57%), where the business demonstrated
considerable ability to rebound when supply conditions were more
favorable;
- satisfactory results (+19%) in the
Caribbean, despite maintenance
closures or chronic technical outages of supply points and the
launch of a re-management process in the Western Caribbean and
Jamaica;
- lastly, the impact in Africa (-42%) of specific supply problems
encountered in South Africa in the second quarter.
Rubis
Terminal (EBIT -6%) recorded a 5% increase in its storage
billings.
Adjusted for the reversal of provisions in 2012, Rubis Terminal's
results (EBIT) were stable:
- good growth in contributions
from Northern Europe;
- stable revenues in
France (oil revenue growth was
diluted by lower revenue from edible oils and fertilizers) combined
with an increase in operating expenses stemming from regulatory
constraints. The ramp-up of Reichstett's contribution will be
gradual in 2014-2015.
Organic growth, combined with the
contribution from recent acquisitions, allows the Group to be
confident that earnings growth will continue throughout fiscal
2013.
Upcoming events:
Q3 sales revenue: November 12, 2013 (at Bourse
closing)
Presentation of half-year 2013 results, available on the
website www.rubis.fr
Press Contact
PUBLICIS CONSULTANTS - Lise
Ardhuin
Tel.: +33 (0) 1 44 82 46 95 |
Analysts Contact
RUBIS - Bruno Krief
Tel.: +33 (0)1 44 17 95 95 |
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