FIRST QUARTER REVENUE €735 M (+16%)
GOOD START TO THE YEAR, WITH VOLUME GROWTH OF 19%
The Group’s two divisions both performed well in the first quarter of 2016, with a composite indicator putting volume growth at +19% (+3% at constant scope) across retail distribution volumes at Rubis Énergie and storage revenues at Rubis Terminal (all terminals).
Consolidated revenue reached €735 million (+16%), combining the effects of the drop in price of petroleum products (-34% in US$) - without an impact on profitability - and of the extension of the scope of operations (Africa and the Caribbean). At constant scope, revenue declined by 2%.
Business trends over the period prompt the following comments:
It will be recalled that there has not been any event since the publication of the financial statements at December 31, 2015 that would be likely to have a significant impact on the Group's financial structure.
Rubis Énergie recorded strong growth of volumes marketed in retail distribution: +23%. At constant structure, the volumes rose by 3%, with a nearly stable unit margin, expressed in euros (-2%).
Geographical breakdown of volumes
Revenue reached €150 million, including the Antilles refinery (fully consolidated) and the trading and shipping operations carried out in Africa and in the Caribbean region, which were buoyant over the period. At constant scope, revenue increased by 38%. The availability of bitumen shipping assets over the period made it possible to achieve a sustained level of transcontinental trading transactions.
Global storage revenue from the Rubis Terminal division - taking into account 100% of the depots under management - increased by 4%.
The published storage revenue from the Rubis Terminal division (excluding Antwerp and Turkey) was stable at €30 million.
In France, revenue from all products was stable:
Rotterdam (+7%): the change in revenues marked the return to normal of the contribution of heavy oil, now fully contracted.
In Antwerp and Ceyhan (Turkey), where revenue was not consolidated, growth of 13% was recorded, equally distributed over the two sites.
Trading revenue totaled €43 million.
Ordinary and Extraordinary Shareholders’ Meeting on June 9, 2016
Half-year results on September 8, 2016 (Market closing)
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