Rubis continued to record solid business growth in the fourth quarter: 15% growth by volume and up 11% on a like-for-like basis.
Turnover increased in the fourth quarter by 51% to reach €412m, largely as a result of the accelerated rise in the nominal prices of petroleum products (up 48%) over the past 12 months.
Rubis is enjoying a period of strong growth and is continuing to develop by consolidating its sales positions (contracts signed and market share gained), local logistics, by extending its industrial scope (incorporating the petrochemical terminal in Antwerp and extending the one in Rotterdam), and by extending its international positions through acquisitions in Switzerland, Spain, southern Africa and the Caribbean.
| Fourth quarter | 12 months cumulative | |||
| Turnover (€m) | 2010 | Change since 2009 | 2010 | Change since 2009 |
| RUBIS ENERGIE Europe Caribbean Africa |
321 181 122 18 |
+50% +75% +29% +10% |
1,163 658 436 69 |
+53% +88% +22% +23% |
| Rubis Terminal Liquid product storage Trading in petroleum products |
91 28 63 |
+57% +19% +83% |
286 107 179 |
+51% +23% +76% |
| Total consolidated turnover | 412 | +51% | 1,449 | +52% |
LPG AND PETROLEUM PRODUCT DISTRIBUTION: RUBIS ENERGIE
Retail volumes distributed by Rubis Energie in the fourth quarter came to 314,000m3, up by 11% on a like-for-like basis.
-
Europe: LPG retail volumes were 91,000 tonnes (+19%), with all countries and segments contributing to this fine performance: residential requirements influenced by favourable weather conditions and LPG fuel (+34%).
The petroleum product distribution business in the Channel Islands and Corsica (consolidated from the second quarter) came to 38,800m3.
-
Caribbean (West Indies – Guyana – Bermuda): The total volume sold was 72,000m3 (+7%), which can be broken down into 60,000m3 (+7%) of petroleum products (service station networks and direct sales of marine diesel, fuel oil, lubricants and bitumen) and 6,100 tonnes (+6%) of LPG.
-
The Africa region posted LPG retail volumes of 19,000 tonnes (-5%) as a result of a temporary withdrawal from Senegal caused by supply interruptions, with Morocco and Madagascar remaining stable.
Liquid product storage: RUBIS TERMINAL
The main business of the RUBIS TERMINAL unit, liquid product storage, experienced a very active quarter, recording a revenue increase of 19% to €28m.
– All segments increased in France, with oil being the main contributor, up by 7% on a like-for-like basis.
– The rise of 36% in the contribution of the Rotterdam terminal reflects the steady increase in occupancy rates and includes the start of new contracts in chemicals.
Over the same period, trading turnover was €63m, as against €35m, notably related to the increase in prices of products sold.
Storage turnover for the whole of the 2010 financial year reached the record level of €107m, up by 23%, and trading turnover was €179 million, up by 76%.
Lastly, it should be noted that the fourth quarter was very active in terms of the Group’s development plan, with the announcement of four structural acquisitions.
As at 31 December 2010, with suspensive conditions having been lifted, the acquisitions in Switzerland (LPG), Spain (LPG) and southern Africa (LPG) were finally concluded. Furthermore, the acquisition from Chevron of its subsidiaries in the Caribbean region should have an impact in three separate phases between the beginning of the second quarter and the end of the third quarter of 2011.
Next announcement: 2010 annual results on 16 March 2011 (at Bourse closing)
| Press Contact | Analyst Contact |
| PUBLICIS CONSULTANTS – Véronique Duhoux | RUBIS – Bruno Krief |
| Tel: +33 1 44 82 86 33 | Tel: +33 1 44 17 95 95 |