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RUBIS: Rubis revises 2024 financial guidance

Paris, 31 October 2024, 7:00am

Today, Rubis has revised its 2024 financial guidance as follows:

  • EBITDA: €[675-725]m from €[725-775]m
  • Net income Group share (including a €83m net capital gain from Rubis Terminal disposal): €[340-375]m from “stable” vs €354m in FY 2023
  • Dividend per share: unchanged ie growing vs 2023, in addition to the €0.75 interim dividend related to Rubis Terminal divestment

The downward revision of the EBITDA guidance stems from a highly volatile macro-environment combined with specific operational headwinds:

  • The recent escalation of conflicts and subsequent regional turmoil in the Middle East over the past months have created a highly volatile environment, with strong upwards and downwards fluctuations and an overall downward trend in oil prices. These evolutions have a direct short-term impact on the value of Rubis inventory in the fuel distribution business.
  • An adjustment in the pricing formula for retail distribution in Kenya was expected to take place in the second half of 2024 and has not happened to date. This revision is taking more time than expected and generates a gap with Rubis initial forecast.
  • Shipping activity stands at a lower level than anticipated. This underperformance comes from the bitumen shipping business where the opportunities for third parties trading are limited, notably in North America.

Net income Group share guidance is updated with a mid-range in line with what was previously communicated. It includes a higher Rubis Terminal capital gain due to the ticking fee reflecting the delayed closing of the operation.

The financial result is expected above previous estimates, partially offsetting the EBITDA underperformance:

  • Due to more efficient currency balance sheet management in Nigeria and Kenya, along with more stable currencies, FX losses for H2 2024 are expected to be lower than Rubis’ initial forecast, positively impacting overall financial performance
  • In Kenya, the cost of debt should be lower in H2 2024 when compared to H1 2024 after the debt in local currency has been reduced.

Dividend remains a priority for the Group and its growth for 2024 is confirmed.

More details on Q3 & 9M 2024 trading update will be disclosed on 5 November 2024 (after market close), followed by a conference call for analysts and investors.

Upcoming events

Q3 & 9M 2024 Trading Update: 5 November 2024 (after market close)

FY 2024 results: 13 March 2025 (after market close)

  

Press Contact Analyst Contact
RUBIS – Communication department RUBIS – Clémence Mignot-Dupeyrot, Head of IR
Tel: +33 (0)1 44 17 95 95

presse@rubis.fr

 Tel: +33 (0)1 45 01 87 44

investors@rubis.fr

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PERSONAL DATA PROTECTION POLICY

Last update: 13/11/2019

Rubis SCA (hereinafter referred to as “Rubis”) attaches great importance to the protection of your personal data (hereinafter referred to as “Personal Data”), which refers to any information relating to an individual, provided voluntarily by them or collected as part of their browsing on the website www.rubis.fr (hereinafter referred to as “the Website”).
The purpose of this notice is to describe how Rubis processes Personal Data collected when you use the www.rubis.fr website and to inform you of your rights under data protection regulations.

1. Purpose of collecting Personal Data and retention period

  • Financial communications mailing list
    Rubis collects Personal Data (gender, surname, first name, email address, country of residence, language) via the online form that allows you to subscribe to its financial communications email list. The Personal Data collected is kept for as long as you are subscribed to this mailing list and is archived in accordance with current regulations.
    You can unsubscribe from the financial communications mailing list by clicking on the dedicated hypertext link at the end of the e-mails.
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    A window is automatically displayed when you first log on to the Site detailing the types of cookies installed and allowing you to select those whose use you accept. Please note that cookies may be stored temporarily (for as long as your web browsing session is open), or may have a longer lifespan, depending on their settings and those of your web browser.
    You may refuse to accept cookies (although their non-installation may limit certain functions of the Site). The configuration of browsing tools for this purpose is described by the Commission Nationale de l’Informatique et des Libertés (CNIL), at the following address (french only): https://www.cnil.fr/fr/cookies-et-autres-traceurs/comment-se-proteger/maitriser-votre-navigateur

2. Recipients of Personal Data

The Personal Data collected is processed by Rubis or, where applicable, by a service provider bound by contract to respect its confidentiality and security and to use it only for the purposes of the task entrusted to it. Rubis undertakes not to sell, rent or transfer it to third parties.

3. Storage and hosting of Personal Data

Personal Data collected by Rubis is stored and hosted on secure servers located in the European Union.

4. Security of Personal Data

Rubis implements appropriate measures to preserve the security, confidentiality and integrity of Personal Data, in particular to prevent it from being distorted, damaged or accessed by unauthorised third parties.

5. Enforceable rights with regard to the protection of Personal Data

The regulations give you the following rights with regard to your Personal Data:

  • a right of access, rectification and deletion;
  • the right to object to or limit the collection of personal data;
  • a right to portability ;
  • the right to determine what happens to your data after your death;
  • the right to lodge a complaint with a supervisory authority.

For more information, visit the following page on the CNIL website (french only): https://www.cnil.fr/fr/les-droits-pour-maitriser-vos-donnees-personnelles .

6. Contact

You can contact Rubis at the following address: communication@rubis.fr.

Legal information

Last update: 3/11/2023

IDENTIFICATIONS

Website publisher: RUBIS SCA, hereinafter the “Company”

SCA with share capital of 128,691,957.50 euros

Registered office: 46, rue Boissière – 75116 Paris, France
784 393 530 RCS Paris

LEI code: 969500MGFIKUGLTC9742

VAT number: FR 81784393530

Tel: +33 (0)1 44 17 95 95

Director of publication: Jacques Riou

Technical designer of the website: Agence TAKA (https://wearetaka.com/)

Limited liability company (SARL) with capital of €5,500

Registered office: 2 place Jules Gévelot – 92130 Issy les Moulineaux, France
512 910 704 RCS Nanterre

VAT number: FR75512910704

Tel: +33 (0)1 74 31 35 50

Website host: EQS Group AG

Registered office: Karlstraße 47 – D-80333 Munich, Germany

Tel: +49 (0) 89 210298-0

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E-mail: contact@eqs.com

PURPOSE OF THE WEBSITE AND UPDATES

The purpose of the www.rubis.fr website is to provide all interested parties (hereinafter referred to as “users”) with information on the activities and results of the Company and the companies it directly or indirectly controls within the meaning of French law. The website, including this legal notice, may be updated at any time.

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The information and documents available on the website (including the texts, images, photographs, videos, sounds, databases, company names, logos, products and brands mentioned) are either the exclusive property of the Company or one of the companies it controls, or are subject to rights of use, reproduction and representation or copyrights. Any reproduction, representation or use is prohibited without the express authorisation of the Company.
Copyright of images produced on the website:
© Gilles Dacquin
© Rubis group photo library

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Users can access information available on the website via an RSS feed. The use of this right is granted by the Company for individual and non-commercial purposes only, provided that the website URL is clearly mentioned.

PROTECTION OF PERSONAL DATA AND COOKIES

Rubis may need to collect your personal data in order to respond to a request from you. This data is processed by Rubis or, where applicable, by a service provider bound by contract to respect its confidentiality and security and to use it only for the purposes of the assignment entrusted to it. Rubis undertakes not to sell, rent or transfer it to third parties.

In accordance with current regulations, you have the right to access, rectify, delete and object to your personal data.

In order to offer you a better service, Rubis compiles statistics and measures the audience for the Website. To enable statistical analysis, the Website provider uses the services of etracker GmbH, which installs cookies (small text files stored by the Internet browser on the user’s device). Data generated with etracker GmbH is processed and stored exclusively by etracker GmbH. Data is processed in accordance with Article 6 of the General Data Protection Regulation.

We inform you so that you may refuse to accept these cookies. However, the non-installation of a cookie may limit certain functions of the Site. The configuration of the navigation tools is described at https://www.cnil.fr/fr/cookies-les-outils-pour-les-maitriser .

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  • in the event of imprecision, inaccuracy or omission concerning information or documents available on the website, including computer links (hypertext links, etc.) used by or referring to the website;
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