Rubis: continuation of favourable business activity in the second quarter

08|07|2009

Continued favourable market conditions in the second quarter enabled the Group to record good progress in terms of both business volumes and profitability.

RUBIS recorded revenues of €211.50m for the second quarter of 2009, down 22%, largely due to nominal price changes and falling oil prices.

Overall, the Group recorded a very good performance for the first half of 2009, with a 15% increase in its overall business volumes; on a like-for-like basis, business was up by 5%, characterised by steady progress in the Terminal business.

Rubis continued its industrial progress at a steady pace, both in market positioning and industrial performance, notably on the sites in Rotterdam and Antwerp.

	Second	quarter	6 month	total
Second quarter of 2009	2009		at 30	June
Revenue in € million	2009	Change	2009	Change
RUBIS ENERGIE	170.9	-18%	368.1	-13%
Europe	70.4	-5%	171.0	4%
Caribbean	87.6	-26%	171.0	-26%
Africa	12.9	-14%	26.1	-16%
RUBIS TERMINAL	40.6	-37%	88.9	-25%
Liquid storage and services	21.2	11%	41.8	18%
Petroleum product wholesale	19.4	-57%	47.1	-44%
Total consolidated revenue	211.5	-22%	457.0	-16%

LPG and petroleum products distribution: RUBIS ENERGIE

Volumes distributed by Rubis Energie for the second quarter totalled 177,000 tonnes-m3, an increase of 10%, o/w 87,000 tonnes in LPG distribution (-2%) and 81,000m3 (+41%) in petroleum distribution (service station networks and fuel oils); on a like-for-like basis (outside the British Isles), retail distribution volumes for all products were stable at 144,000 tonnes-m3.

For the half year as a whole, the procurement price structure has been more favourable, leading to an increase in margins.

- Europe: LPG retail distribution volumes amount to 61,000 tonnes; the Group made good breakthroughs in niche segments within the sector: LPG fuel in Germany, bottled in France for hypermarkets, bulk in Spain.

- Caribbean (West Indies - Guyana - Bermuda): volumes sold were up to 63,000 tonnes-m3 split into 57,000m3 of petroleum products: service station networks and direct sales of marine diesel, fuel oil, lubricants and bitumen and 6,000 tonnes of LPG.

- The Africa region posted stable LPG retail distribution volumes of 20,000 tonnes, mainly due to non-recurring technical stoppages in the customer base. storage of liquid products: RUBIS TERMINAL

In the second quarter, the main business activity at the Rubis Terminal centre, storage, measured in revenue, continued its growth at a sustained rate: + 10% in France and + 18% overall, including the Rotterdam business.

Overall, the first half of the financial year was positive across all segments: petroleum (+ 8%) led by biofuels and benefiting from new contracts, fertilisers (+ 33%) and oilseeds (+ 13%).

Storage revenues for the quarter were up to €21.2m, an increase of 11%.

For the same period, wholesale revenues totalled €19.4m.

Next trading update: 1st half financial results: 9 September 2009

Press Contact PUBLICIS CONSULTANTS - Nathalie Brazier Tel: +33 (0)1 57 32 88 41

Analyst Contact RUBIS-Bruno Krief Tel: +33 (0)1 44 17 95 95