FIRST QUARTER REVENUE €634M
GOOD START TO THE YEAR, WITH VOLUME GROWTH OF 18%
The Group’s two business segments both performed well in the first quarter of 2015, with a composite indicator putting volume growth at 18% across retail distribution at Rubis Énergie and storage revenues at Rubis Terminal (all terminals). Adjusted for changes in scope of consolidation, growth reaches 8%.
Consolidated revenue totaled €634 million (-5%), combining the effect of lower prices of petroleum products (-53% in US$) – without affecting profitability – and changes in scope (Portugal and Switzerland). At constant scope, revenue declined by 11%.
Business trends over the period prompt the following comments:
RUBIS ÉNERGIE: distribution of LPG and petroleum products
Rubis Énergie recorded an excellent performance resulting from strong growth in volumes distributed (+22%) and good control of the unit margin (up 18% at constant scope).
RUBIS TERMINAL: Bulk liquid storage
The Rubis Terminal division’s overall storage revenues – taking into account 100% of all terminals under management – were very strong, with an increase of 9%.
Rubis Terminal’s storage revenues (excluding Antwerp and Turkey) totaled €30 million, a decline of 3%, prompting the following comments:
In France, revenue from all products combined is stable (-1%):
Rotterdam (-11%): revenues were penalized by the end of a heavy fuels contract in the fourth quarter of 2014, replaced in the first quarter of 2015 by a new customer at a lower price. The start of a new contract in June will make up for the shortfall in the first half.
Antwerp and Ceyhan (Turkey), the revenues of which are no longer consolidated, recorded growth of 71%, driven by a continuation of intense activity in Turkey (+182%).
Wholesale revenue amounted to €41 million (-14%), impacted by the sharp decline in prices of oil products, with no significant impact on results.
No events liable to significantly alter the Group’s financial structure, which remained strong at the end of the quarter, have occurred since the beginning of the year.
Ordinary and Extraordinary Shareholders’ Meeting on June 5, 2015
Half-year results on August 31, 2015 (after market)
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