RUBIS: FOURTH QUARTER 2015 - BUSINESS ACTIVITY IN VOLUME: +18% - REVENUE: +13%
2016年2月12日 - 1:46AM
February 11, 2016
Consolidated fourth quarter revenue totaled €802 million (+13%). The
Group performed well, with the combined indicator of retail
distribution volumes at Rubis Énergie and storage revenues at Rubis
Terminal (100% of all terminals) putting volume growth at 18%. At
constant scope, combined volumes increased by 1%.
Business trends over the period
prompted the following comments:
-
Rubis Énergie recorded a volume growth of 22%
(+1% at constant scope). This includes the increase in scope
resulting from acquisitions in the Africa region (Réunion Island,
Djibouti and West Africa). Volumes in Europe (-3.2%) were affected
by particularly adverse weather conditions.
-
Rubis Terminal's storage revenues grew slightly
(+0.6%), factoring in 100% of all terminals under management. The
decline in revenues in France (-2%) was offset by revenue growth
outside France (+3%).
External factors include the
prices of petroleum products, which continued their fall over the
period (propane prices: -31%), once again offering a favorable
configuration for unit margins during the quarter.
Over the full
year in 2015, revenue increased by 4%, on an 18% increase in
overall volumes (+21% for Rubis Énergie and +6% for Rubis
Terminal). At constant scope, overall volumes increased by 4%.
Revenue (in €M) |
Q4-2015 |
Change |
Total 2015 |
Change |
LPG AND FUEL DISTRIBUTION
Europe
Caribbean
Africa |
538
123
292
123 |
+5%
-16%
-10%
+211% |
2,065
525
1,216
323 |
+5%
-
-4%
+99% |
SUPPORT AND SERVICES |
189 |
+68% |
555 |
8% |
BULK LIQUID STORAGE
Bulk liquid storage
Wholesale of fuel |
75
34
41 |
-14%
-2%
-23% |
293
129
165 |
-7%
-2%
-10% |
Total consolidated revenue |
802 |
13% |
2,913 |
+4% |
There have been
no events since the release of the interim financial statements as
of June 30, 2015 liable to significantly alter the Group's
financial position, which remained strong at the end of the
year.
LPG
and fuel distribution
Rubis Énergie combines all
petroleum product distribution activities: networks of gas
stations, heating oil, aviation and marine fuel, lubricants,
bitumen and LPG.
Geographical
breakdown of volumes
(retail distribution)
In '000 m3 |
Q4-2015 |
Change |
Change at
constant scope |
Total 2015 |
Change |
Change at
constant scope |
Europe |
215 |
-3% |
-3% |
835 |
+21% |
0% |
Caribbean |
382 |
+5% |
+5% |
1,486 |
+6% |
+5% |
Africa |
204 |
+191% |
-3% |
549 |
99% |
+3% |
TOTAL |
800 |
+22% |
+1% |
2,871 |
+21% |
+4% |
In the fourth quarter, retail
distribution volumes totaled 800,000 m3, an increase
of 22%. At constant scope of consolidation, volumes grew by 1%,
prompting the following comments:
-
In Europe, volumes sold in
retain distribution totaled 215,000 m3, a decline of
3% attributable to the effect of particularly adverse weather
conditions (climate index down 17% in
November and December and 29% compared with the 30-year
average).
-
In the Caribbean,
distributed volumes totaled 382,000 m3, an increase
of 5 %. Volumes of fuel oil for large
accounts and aviation fuel were excellent (+9%), and volumes
distributed in the network segments were up 2%, indicating further
gains in market share.
-
The Africa region recorded
a near tripling of its volumes to 204,000 m3 as a
result of the consolidation of new scopes (Réunion Island, Djibouti
and West Africa). At constant scope, the 3% decline reflects
the commercial options taken in the LPG business in South Africa,
namely a focus on bottled gas at the expense of large bulk
volumes.
Over the full
year in 2015, volumes totaled 2.9 million m3, up 21%
on a real basis and 4% at constant scope.
The Support and Services business
includes the revenue of SARA (Antilles refinery) and all shipping,
supply and services activities. The strong increase in fourth
quarter revenue (+68% to €189 million) is attributable to the full
consolidation of SARA and that of Eres, which is strongly
positioned in shipping and supply activities.
Rubis Terminal's overall storage revenues (factoring in 100% of all terminals
under management) edged up by 0.6% in the fourth
quarter, prompting the following comments:
In France:
-
The petroleum business, which represents 77% of
total billings in France, was virtually stable during the period
(-0.3%), in a broader French market where consumption of petroleum
products was down 2%.
-
Among other products, which together represent
23% of billings in France, fertilizer and heavy fuel oil enjoyed a
favorable trend (+20%) while chemicals, molasses and oilseeds
together fell by 20%. A catch-up is expected in chemicals in 2016
in connection with the marketing of capacity that was idle in
2015.
Outside France:
-
The Rotterdam terminal
recorded revenue growth of 15%, with a strong performance in
chemicals storage (+7%), while heavy fuel oil revenues increased by
3% (excluding exceptional income).
-
The Antwerp and Ceyhan (Turkey) terminals, whose
revenue is not consolidated (equity method), recorded growth of
2%.
Total chemicals revenue in
Northern Europe increased by 5 %,
reflecting the sector's robust momentum in this region.
Over the same period, wholesale
revenue totaled are down at €41 million (€165 million over the
full year), with no impact on earnings.
Over the full
year in 2015, consolidated storage revenue totaled €129
million, a decline of 2%.
Upcoming events:
2015 annual results on March 9, 2016 (Market
closing)
Press
Contact |
Analysts Contact |
PUBLICIS CONSULTANTS -
Aurélie Gabrieli |
RUBIS - Bruno
Krief |
Tel: +33 (0) 1 4482
4833 |
Tel: +33 (0) 1 4417
9595 |
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Source: RUBIS via Globenewswire
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