Rubis posted turnover of €194.8 million in the first quarter of 2007, down 4.6% from the same period in 2006.
Volume increased in all sectors with the exception of LPG sales in metropolitan France, where volume declined by 18%, and in petroleum products trading in the Rubis Terminal business, which was affected by especially unfavourable weather conditions (weather index down 17%).
The Group’s results will show good progress from the first quarter, again demonstrating the advantages of the configuration in which geographic and business positioning (Storage and Distribution) can cushion significant external shocks.
Results for the first quarter included the maximum impact of a particularly unfavourable winter, laying the groundwork for a positive outlook and trends for the financial year from this point.
| Turnover in € million (quarter ended 31 March) | 2007 | 2006 | Change |
| RUBIS ENERGIE | 153.6 | 148.7 | +3.3% |
| France | 43.4 | 55.3 | -21.5% |
| Carribbean | 95.9 | 83.1 | +15.3% |
| Africa | 14.4 | 10.2 | +40.2% |
| RUBIS TERMINAL | 41.2 | 55.5 | -25.8% |
| Bulk liquid products revenues | 15.6 | 14.6 | +6.5% |
| Petroleum products trading | 25.6 | 40.9 | -37.3% |
| Total consolidated turnover | 194.8 | 204.2 | -4.6% |
LPG AND Petroleum products DISTRIBUTION – Rubis Energie
LPG distribution recorded a volume decrease of 3.8%, with end distribution of 65,000 tonnes.
In France, LPG volume of 35,000 tonnes showed an 18% decline, in conditions marked by a record mild winter, with the climate index declining 17% from the 2006 figure.
The Caribbean business (French Antilles, French Guiana and Bermuda) recorded volume increases of 25% in LPG (5,900 tonnes) and 17.5% in the service station network and direct sales of marine diesel, fuel oil, lubricants and bitumen (55,670 m3).
Africa (24,200 tonnes of LPG) showed overall volume growth of 19%, aided by the positive momentum of residential bulk sales in Morocco and the pick-up in activity in Madagascar and Senegal. Bulk LIQUID STORAGE – Rubis Terminal
Turnover declined by 25.8%, linked to a decrease of 37.3% in the “Petroleum Products Trading” activity, with a refocusing of the business, a 20% decline in domestic fuel volumes and a decrease in nominal prices.
It should be noted that Trading normally contributes only marginally to Group results.
The principal business of RUBIS TERMINAL, Storage, enjoyed a continuation of last year’s trend, with sustained growth and storage receipts growing by 11.3%.
Next trading update: Combined General Meeting on 14 June 2007
Press Contact COMFIDANCE – Jocelyne GUILLON Tel: +33 (0)1 56 21 20 13
Analyst Con tact RUBIS – Bruno KRIEF Tel: +33 (0)1 44 17 95 95