ROBUST GROWTH IN FOURTH-QUARTER BUSINESS VOLUMES: +8%
FULL-YEAR 2013 SALES REVENUE: +4%
In the fourth quarter, the Group’s two core businesses delivered positive performances, with volume growth of 8%.
Consolidated sales revenue totaled €678 million (-4%), reflecting the impact of lower prices for petroleum products and the appreciation of the euro.
Business trends over the period prompt the following comments:
Overall, the fall in supply prices (propane: -9%) continued to create a favorable situation in terms of unit margin over the quarter.
Over fiscal 2013, sales revenue increased by 4%, with volumes up 12% at Rubis Energie and storage revenue up 7% at Rubis Terminal.
“The operations performed by the HP Trading company (Rubis Energie) for third parties in Corsica are now excluded from sales revenue and purchases, in line with industry practice. This change in presentation has no impact on EBITDA, operating income or net income (operations generating no margin). For purposes of comparison, the 2012 data have been restated.”
Rubis Energie comprises the LPG distribution and petroleum products businesses: networks of service stations, heating oil, aviation and marine fuel, lubricants, bitumen.
Geographical breakdown of volumes
In the fourth quarter retail distribution volumes totaled 572,000 m3, an increase of 6%. At constant scope, volume growth was 1%, prompting the following comments:
Over fiscal 2013, volumes reached a record level of 2.3 million m3, increases of 12% on a reported basis and 3% on a like-for-like basis.
In the fourth quarter, Rubis Terminal’s core business, bulk liquid storage, recorded revenue growth of 11% (+5% at constant scope):
Over the same period, wholesale turnover amounted to €55 million, compared with €71 million.
In fiscal 2013, wholesale turnover totaled €213 million, down 17% (price and volume effects), and storage revenue reached the all-time high level of €139 million, an increase of 7% (+2% at constant scope).
The Group’s balance sheet at year-end reflected a sound financial position, strengthened by the successful capital increase in December 2013.
Full-year 2013 results on March 13, 2014 (after trading)
Rubis does not guarantee the reliability, accuracy or completeness of the information provided herein and shall not be held responsible for the content of the site or for any use thereof by any person whatsoever.