THIRD-QUARTER SALES REVENUE
GROWTH IN BUSINESS BY VOLUME: +7%
During the third quarter, both business segments have recorded positive trends experiencing a 7% volume growth. Taking into account the fall in petroleum products prices consolidated sales revenue for the third quarter of 2013 reached €684 million (-3%).
Overall, the fall in supply prices (propane: -9%) continued to create a favorable situation in terms of unit margin.
Since the beginning of the year, the Group’s scope has been expanded, with the acquisition in Jamaica (distribution of petroleum products) and the consolidation of the storage site of the former Reichstett refinery. In addition, the German LPG subsidiary, which has been sold, did not contribute to business during this quarter.
There have been no events since the release of the interim financial statements liable to significantly alter the Group’s financial structure, which remained solid at the end of the quarter.
RUBIS ENERGIE: Distribution of LPG and petroleum products
Volumes distributed by Rubis Energie over the period totaled 546,000 m3, an increase of 7%. At constant scope, volume growth was 1%.
RUBIS TERMINAL: Bulk liquid storage
Rubis Terminal’s main activity, storage, recorded revenues of €35.9 million, an increase of 8%.
In France, revenues from all products increased by 7%:
There was strong growth in the ARA zone (Antwerp-Rotterdam-Amsterdam), where revenues were up 19% at €6.3 million thanks to the opening of new capacity on both the Antwerp and Rotterdam installations and the maintenance of high utilization rates.
In Turkey, revenues are not material, efforts having been focused on the construction of the jetty which completion is scheduled in the fourth quarter of 2014. The terminal, which is currently focused primarily on oil traders, continues to suffer the effect of an unfavorable oil price structure (absence of contango). In addition, activity includes the start of a bunkering contract and the gradual ramp-up of a contract for the transit of crude oil from the Kurdistan Government Region.
Wholesale turnover totaled €37.5 million (-26%), with no effect in terms of contribution.
Q4 sales revenue: February 11, 2014 (at Bourse closing)
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