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