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Rubis: continued growth - net income: 22% - dividend growth: 11% to €€2.68

03|13|2017

Paris, March 13, 2017, 5.35 p.m.

 

At its meeting of March 10, 2017, the Board of Management finalized the 2016 financial statements, which were approved by the Supervisory Board at its meeting of March 13, 2017. An unqualified certification report is currently being issued by the Statutory Auditors.

2016 was characterized by sound growth in overall business volumes (up by 15%) resulting in an excellent performance in terms of net income, Group share, which was up by 22% at €208 million.

(in €M)

  20152016Change

Revenue

Gross operating profit (EBITDA)

Current operating profit (EBIT), of which

Rubis Énergie

Rubis Support and Services

Rubis Terminal

Net profit, Group's share

Cash flow

Capex

Earnings per share (fully diluted)

Dividend per share

2,913

345

240

155

48

49

  170

261

143

€4.06

€2.42 
3,004

411

300

192

69

51

  208

326

163

€4.64

€2.68 
+3%

+19%

+25%

+24%

+43%

+4%

   +22%

+25%

-

+14%

+11%

* Amount proposed to the O&EGM of June 8, 2017.
Note: contribution breakdown between Rubis Énergie and Support and Services business has been modified in 2015 set of results. Above figures reflect this change.

The results were driven by Rubis Énergie (petroleum products distribution business), which posted a 17% increase in volumes (up by 5% at constant scope). In total, Rubis Énergie's EBIT rose by 24% to €192 million (up by 9% at constant scope).

The Support and Services business, which includes Sara (Antilles refinery) and all shipping, trading and services activities, reported EBIT of €69 million, an increase of 43% (up by 19% at constant scope). The division's excellent performance is attributable to the full consolidation of Sara and strong growth in trading activities in the Caribbean.

Rubis Terminal recorded overall growth in revenues of 5%, driven by international operations (up by 11%). The division continued its policy of extending its capacity in petrochemicals (ARA zone) and petroleum (new strategic storage contracts in France). Factoring in the share of earnings of equity associates (Antwerp and Turkey), EBIT was €63 million, an increase of 8% (versus 4% as reported).

Capital expenditure for the Group totaled €163 million, plus €27 million in net acquisitions of subsidiaries.

The consolidated financial structure was particularly sound at year-end, with a debt-to-EBITDA ratio of 0.6 leaving scope to envision new acquisitions.

The excellent quality of these results will allow the Group to propose the payment of a dividend of €2.68 per share, an increase of 11%, at the next Shareholders' Meeting, a figure in line with historic growth.

  

RUBIS ÉNERGIE: Fuel distribution