TRADING UPDATE – THIRD QUARTER 2007 13 November 2007
Rubis’ turnover jumps 26% in Q3 2007 on continued market share gains
Rubis generated €591.1 million of turnover during the nine months ended 30 September 2007, up 10% from the same period in 2006. In the third quarter alone, Rubis’ turnover jumped 26% to €212 million, thanks to the expansion of Rubis Energie’s operations in Bermuda in October 2006, and LPG operations in Europe (ex-France) in the second quarter of 2007.
At constant scope, volumes picked up 8% in the Rubis Terminal business and held steady in the Rubis Energie business.
The highlights of the third quarter included:
– At Rubis Energie
– Volumes at Vitogaz France rebounded 8.5%, fuelled by sales in the agriculture sector; – Integration was completed of the five businesses acquired at the end of the first half (in Bulgaria, Czech Republic, Germany, Spain and Switzerland); – Rubis Energie registered market share gains in all regions; and – The growth in the overall sales margin (at constant scope) seen in the first half continued into the third quarter.
– At Rubis Terminal
– Activity remained buoyant; and – Construction advanced at the Rotterdam terminal according to plan.
| 3Q 2007 | 3Q 2007 | 9 months ended 30 September 2007 | 9 months ended 30 September 2007 | |
| Turnover (€ million) | 2007 | Change from 2006 | 2007 | Change from 2006 |
| RUBIS ENERGIE | 173.7 | 37% | 480.7 | 20% |
| – France | 21.3 | 9% | 85.8 | -12% |
| – Europe ex-France | 37.4 | N/A | 44.8 | N/A |
| – Caribbean | 102.4 | 6% | 310.3 | 15% |
| – Africa | 12.6 | 19% | 39.8 | 28% |
| RUBIS TERMINAL | 37.9 | -9% | 110.4 | -20% |
| – Bulk liquid storage and services | 16.8 | 7% | 48.3 | 6% |
| – Petroleum product trading | 21.1 | -19% | 62.1 | -32% |
| Total consolidated turnover | 211.6 | 26% | 591.1 | 10% |
Rubis Energie – LPG and petroleum-product distribution
The sales volume of LPG and petroleum products combined soared 26% in the first nine months of 2007 to 424,000 tonnes and m3, including 205,000 tonnes of end distribution (up 24%).
– In France, LPG sales volumes slipped 8% to 80,000 tonnes following a historically mild winter; a key climate index came in 20% lower than in 2006. Nevertheless, Vitogaz sales continued to grow despite a 13% decline in the overall French market.
– The European LPG distribution operations acquired from Shell in the first part of the year sold 56,000 tonnes.
– In the Caribbean (Antilles, French Guiana, and Bermuda), LPG sales volumes leapt 24% to 17,400 tonnes, while petroleum product volumes grew 22% to 172,000 m3. Petroleum products are distributed through service stations and direct sales of marine diesel, fuel oil, lubricants, and bitumen. At constant scope (excluding Bermuda), sales volumes rose 1%.
– In the Africa region, LPG sales volumes increased 4% to 67,000 tonnes. Morocco remains the primary growth driver in this region, with sales advancing 11% on the back of the kingdom’s economic expansion. Sales volumes increased 4% in Madagascar but fell 3% in Senegal. Rubis Terminal – Bulk liquid storage
Turnover from Rubis Terminal’s core business, bulk liquid storage (excluding services), climbed 7.4% in the first nine months of the year. Turnover from petroleum product storage grew 6%, while that from chemical product storage bounded 27%.
Rubis Terminal’s total turnover declined 20%, dragged down by a 32% drop in sales in the petroleum products trading business. This trading business typically makes only a marginal contribution to the company’s overall earnings.
Next trading update: 4Q 2007 turnover on 6 February 2008
| Press Contact | Analyst Contact |
| Annie Fournier | Bruno Krief |
| Comfidance | Rubis |
| +33 (0)1 56 21 20 22 | +33 (0)1 44 17 95 95 |