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2005 turnover: + 37.2% - adjusted scope of consolidation: exit of rubis gaz italy (2004 and 2005) and inclusion of r...


RUBIS posted an increase in turnover of 37.2% compared with 2005.

It is emphasised that the 2005 turnover takes into account acquisitions and disposals occurring during the year: Rubis Gaz Italy has not been included in the turnover for 2004 or 2005 in view of the firm sale of the Italy division.

The sub-group RUBIS ANTILLES-GUYANE (formerly SAGF), bought from SHELL on 1 December 2005, was consolidated from that date, with the exception of its subsidiary SARA, which is consolidated under the proportionate method (24%) with effect from 31 December 2005.

Turnover in millions of euros (year ended 31 December) 2005 2004 Change 
RUBIS GAZ 159.8  146.7 + 9. 0% 
France  124.6 115.2 + 8.2% 
Africa 35.2 31.5 +11.9% 
Rubis Terminal 172.4 108.2 + 59.3% 
Liquid product storage and services 56.7 52.9 + 7.4% 
Trade in petroleum products 115.6 55.3 + 109.0% 
Total consolidated turnover 349.5 254.9 + 37.2% 

Rubis Gaz

Rubis Gaz posted turnover of €159.8 million, up 9% over the year, representing a stable overall tonnage of 268,000 tonnes.

The final 2005 volumes over 12 months show a drop of 3% including some contradictory variations: the 6% fall in volumes in France is in line with general market conditions that suffered from an unfavourable 2% reduction in the climatic index, a drought season for cereals resulting in a decrease and difficulties in the fowl sector.

Overall, Africa recorded volume growth of 2%: a sharp increase in Madagascar (+29%) and in Senegal (+8%) being offset by stoppages for technical reasons at industrial customers in Morocco (-7%). Rubis Terminal

Turnover rose by 59.3%, due mainly to the strong performance of Trade (+109%), a combination of increased nominal prices and an increase in diesel volumes due to the effects on turnover of the French tax on petroleum products (TIPP).

During the fourth quarter, the Storage and Services business continued to surge ahead in the petroleum business (+14%), buoyed by increased imports of diesel linked to the new tax provisions for bio-fuels (diester and ethanol) and strong activity with trade customers. Contrary to expectations chemical sales were up 16%.

Final settlement of the sale of Rubis Gaz Italy

The sale of the Rubis Gaz Italy division was completed on 2 February 2006, when Rubis Group received the sum of €58.55 million, being the price net of debt, working capital and of the current account transferred to the buyer.

Next trading update: annual 2005 results release - Thursday 9 March 2006

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