Rubis generated €379,4 million of turnover in the first half of 2007, up 3% from the same period last year. The company’s sales volumes surged 8%.
Turnover from Rubis Energie, the company’s LPG and petroleum products distribution business, jumped 9% with almost 264,000 tonnes and m3 sold. Data for the first half of 2007 include for the first time Rubis’ operations in Bermuda and LPG operations in Europe (Germany, Spain, and the Czech Republic). At constant scope, retail distribution sales volumes of LPG and petroleum products remained essentially the same as last year, edging down only 1% despite unfavourable weather conditions. A key climate index fell 18% during the year and caused sales volumes in France to tumble 13%.
Liquid storage turnover from Rubis Terminal rose 7% in the first six months of the year, at constant scope.
H1 2007 suffered the full impact of the unseasonably mild winter, indicating a sanguine outlook for the second half.
| Turnover at 30 June (€ million) | 2007 | 2006 | Change |
| RUBIS ENERGIE | 306.9 | 272.5 | 12.6% |
| France | 64.5 | 77.8 | -17.0% |
| Europe ex-France | 7.3 | N/A | N/A |
| Caribbean | 207.9 | 174.2 | 19,3% |
| Africa | 27.2 | 20.5 | 32.8% |
| RUBIS TERMINAL | 72.5 | 95.9 | -24.4% |
| Liquid storage and services | 31.5 | 30.0 | 5.0% |
| Petroleum product trading | 41.0 | 65.9 | -37.7% |
| Total consolidated turnover | 379.4 | 368.5 | +3.0% |
Rubis Energie – LPG AND PETROLEUM produCt Distribution
LPG sales volumes grew 5% over the period to 123,000 tonnes of retail distribution.
– In France, LPG sales volumes slumped 13% to 57,000 tonnes as a result of a historically mild winter; a key climate index dropped 18% relative to 2006. Nevertheless, the Vitogaz business continued to gain market share in the face of an 18% overall decline in the French market.
– In the Caribbean (Antilles, French Guiana, and Bermuda), LPG and petroleum product sales volumes soared 25% and 22%, respectively. 11,700 tonnes of LPG were sold in the first six months, and 116,000 m3 of petroleum products through service stations and direct sales of marine diesel, fuel oil, lubricants, and bitumen. At constant scope (excluding Bermuda), sales volumes increased 3%.
– LPG sales volumes in Africa leapt 8% in the first half to 46,000 tonnes. Morocco remains the primary growth driver in this region, with a sharp 21% increase fuelled by economic expansion in the Kingdom. Sales volumes in Madagascar rose 4%, but slipped 4% in Senegal.
– The European LPG distribution operations acquired from Shell in the first part of the year had a minor impact on H1 sales volumes, adding 8,600 tonnes. This includes two months of the Spanish and German operations and one month of operations in the Czech Republic; the operations in Switzerland and Bulgaria acquired at the end of the first half have not yet been incorporated. Rubis Terminal – BULK liquid Storage
Turnover from Rubis Terminal decreased 24% in the first six months, weighed down by a 38% plunge in sales in the petroleum products trading business. This business, which usually makes only a marginal contribution to the company’s earnings, was pressured by lower sales volumes of heating oil and a strategic refocusing.
Rubis Terminal’s core business, bulk liquid storage, posted a solid first half with 7% turnover growth (excluding services); sales of fertilizer, chemical products, and edible oils all climbed sharply.
Next trading update: H1 2007 results on 12 September 2007 (after market close)
Press Contact Annie Fournier Comfidance +33 (0)1 56 21 20 22
Analyst Contact Bruno Krief Rubis +33 (0)1 44 17 95 95