Rubis: turnover for the 1st half of 2005: up 24.4%

08|04|2005

Rubis - which is specialised in bulk liquid storage and the distribution of LPG in France and internationally - recorded 24.4% growth in turnover in the first half of 2005. Analysis of its activities over the period in real terms reveals a good progression of earnings from the storage of oil products (+10%) and steady profit margins in LPG distribution together with a 4% increase in total volume.

Turnover in millions of euros, at 30 June	2005	2004	Change
RUBIS GAZ	171.4	155.7	+10.1%
France	69.5	58.7	+18.5%
Italy	86.0	82.3	+4.4%
Africa	16.0	14.7	+8.7%
Rubis Terminal	83.6	49.4	+69.3%
Bulk liquid products - services and storage	26.1	26.0	+0.2%
Oil and gas trading	57.5	23.4	+146.1%
Total consolidated turnover	255.0	205.0	+24.4%

Rubis Gaz

Rubis Gaz's turnover for the first half of the year amounted to €171.4 million, (+10.1%), for a total volume of 304,000 tonnes (+4%).

The second quarter was marked by significant growth in volumes in Africa (+5%) and a sharp increase in propylene storage in Italy (+49%).

The overall drop in distributed volumes over the first half of the year in both France (-2%) and Italy (-4%), was due to the negative impact of the climate index.

Rubis Terminal

Rubis Terminal's turnover was up 69.7%, mainly due to the strong growth in Trading activity (+146.1%) owing to a rise in nominal prices combined with an increase in diesel volumes and the effects induced by the domestic tax on petroleum products (TIPP) on the turnover.

The bulk petroleum Storage and Services activity continued its good progression in the second quarter (+10%) thanks to the contango effect and increased traffic generated by the new tax provisions on bio-fuels, offset by receding earnings from chemicals (due to contract terminations in 2004).

Next meeting on 14 September 2005: Publication of half-year results.

Press contact
Euro RSCG Omnium - Christèle LION
Tel: +33 1 58 47 94 81

Analysts contact
RUBIS Group - Bruno Krief
Tel: +33 1 44 17 95 95