2013-02-11 17:47:09 -
Fourth quarter sales revenue totalled €725 million (up 20%), making for total
sales revenue of €2,792 million over 12 months (up 32%). At constant perimeter
consolidated sales revenue is up 13%.
Regarding business growth over the period, note that:
* Volumes at Rubis Energie include figures for the acquisitions in the
Caribbean zone, and were up by 9% overall (+5% on a like-for-like basis);
* Rubis Terminal again posted growth, with storage revenue up 16%, or 12% on a
like-for-like basis (excluding Delta Rubis in Turkey).
Overall activity, in volume terms and on a like-for-like basis, increased by 8%
over the period.
For the whole fiscal year, consolidated sales revenue at the same structure is
up 13%. In a climate where procurement costs increased sharply (up 5% in dollars
per ton of propane, up 14% in euros), Rubis Energie managed to increase its
volumes by 5% and keep margins steady.
The Rubis Terminal division benefited from its first rate logistics positions in
France and a higher usage rate for its capacities in northern Europe.
+-----------------------------+-------------------------------+
| Q4 | 12-month total |
+----------------+-------------+---------------+--------------+----------------+
|Sales revenue in| 2012| Change/2011 | 2012 | Change/2011
|
|€ million | | | | |
+----------------+-------------+---------------+--------------+----------------+
|RUBIS ENERGIE | 620 | + 18% | 2,408
| + 31% |
|Europe | 191 | + 5%|
794| + |
|Caribbean | 387 | + 30%| 1,427 |3%
|
|Africa | 42| - |
187| + 60%|
| | | 9% | | + |
| | | | |5% |
+----------------+-------------+---------------+--------------+----------------+
|RUBIS TERMINAL | 105 | + 36% |
384| + 34% |
|Bulk liquid | 34| + 16%| 129|
+ 11%|
|storage | | + 49%|
| + 50%|
|Petroleum | 71 | |255 | |
|products trading| | | | |
+----------------+-------------+---------------+--------------+----------------+
|Total | 725 | + 20% | 2,792
| + 32% |
|consolidated | | | | |
|sales revenue | | | | |
+----------------+-------------+---------------+--------------+----------------+
RUBIS ENERGIE: LPG AND PETROLEUM PRODUCTS DISTRIBUTION
RUBIS ENERGIE includes the LPG and petroleum distribution activities: service
stations network, commercial fuel oil, aviation, marine, lubricants and
bitumens.
In the fourth quarter, retail distribution volumes reached 541,000 m(3) for a
9% increase. On a like-for-like basis, volumes were up 5%.
Geographic breakdown of volumes
(retail distribution)
+------------------------------------------------------------------------+
| in 000 m(3) Q4-2011 Q4-2012 Change Change |
| on a like-for-like basis |
+------------------------------------------------------------------------+
| Europe 198 188 - 5% + 9% |
+------------------------------------------------------------------------+
| Caribbean 213 275 + 29% - 1% |
+------------------------------------------------------------------------+
| Africa 85 77 - 8% + 9% |
+------------------------------------------------------------------------+
| TOTAL 495 541 + 9% + 5% |
+------------------------------------------------------------------------+
* Europe: volumes sold for retail distribution came to 188,000 m(3), or a 9%
increase on a like-for-like basis (deconsolidation of Czech Republic)
boosted by performance in France and Germany. By comparison, 2011 volumes
had been impacted by unusually adverse weather conditions.
Sales activity remained steady with higher market share gains across all
positions.
* Caribbean (Antilles - French Guiana - Bermuda - West Indies): volumes sold
totalled 275,000 m(3), up 29% - result of including volumes from the Chevron
network in the Bahamas acquired in the second quarter. On a like-for-like
basis, volumes sold were stable (- 1%).
* Africa posted LPG volumes of 77,000 m(3 )(down 8%) in retail distribution.
On a like-for-like basis (excl. Senegal), volumes were up 9% mainly due to
southern Africa and Madagascar.
For the whole fiscal year 2012, turnover reached €2,408 million for a 31%
increase.
RUBIS TERMINAL: BULK LIQUID STORAGE
In the fourth quarter, the RUBIS TERMINAL division's core business of bulk
liquid storage saw a 16% rise in revenue:
* Up 13% for Pétrole France, despite consumption of petroleum products
remaining stable.
* Upward trend of 4% for other products in France, especially in chemicals;
* The ARA (Antwerp and Rotterdam) zone's contribution was up 20%, due to a
higher occupancy rate.
* Structural investments continue at Delta Rubis in Turkey.
Over the same period, revenue from trading amounted to €71 million versus €48
million.
Revenue from trading in fiscal 2012 totalled €255 million, up 50% linked to a
sharp rise in volumes processed, and storage revenue reached a record €129
million, up 11% (up 7% on a like-for-like basis).
At the close of the fiscal year, the Group's balance sheet reflects its robust
financial position, after financing the acquisition of petroleum product
distribution networks in Jamaica (late December).
Next update:
2012 annual results on 14 March 2013 (at Bourse closing)
----------------------------------------------------------------------------
Press Contact Analyst Contact
PUBLICIS CONSULTANTS - Lise ARDHUIN RUBIS - Bruno KRIEF
Tel.: +33 (0) 1 44 82 46 95 Tel.: +33 (0)1 44 17 95 95
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