First Quarter revenue €896 Million
The Group's two business segments both performed well in the first quarter of 2017, with a composite indicator putting growth at 8% for retail distribution volumes at Rubis Énergie and storage revenues at Rubis Terminal (all terminals).
Consolidated revenue totaled €896 million, an increase of 22% (+21% at constant scope), including the impact of the sharp rise in prices of petroleum products (+68%) - without affecting profitability - and growth in overall activity (+8%).
The change in the scope of consolidation over the period comprises:
- acquisition of the residual 50% of the depot in Turkey allowing the full consolidation of this site since January 1, 2017;
- acquisition of Bermuda Gas (in April 2016) and disposal of Multigas in Switzerland (in December 2016), together with no significant effect.
Business trends over the period prompt the following comments:
- Rubis Énergie's volumes in final distribution were up a solid 7%, marked by further market share gains in Europe and a sustained recovery in bitumen in Africa.
The period was marked by a sharp upturn in prices of petroleum products: propane prices were up 68% year-on-year and 17% quarter-on-quarter. Change in unit margins once again reflects impressive resilience in this context of high volatility;
- Rubis Terminal began 2017 on a sustained pace of growth, with storage revenue up 14% - scope under management, taking into account 100% of all terminals - fuel storage revenues in France up 9%, storage capacity in Northern Europe up 23% and the revenues of the Ceyhan terminal in Turkey up 25%.
Fuel Products Distribution
Rubis Énergie combines all fuel retailing: petrol stations, commercial heating oil, aviation and marine fuel, lubricants, bitumen and LPG.
Rubis Énergie recorded sustained growth of 7% in volumes sold. Changes in the scope of consolidation - the acquisition of Bermuda Gas and the disposal of Multigas (Switzerland) - were not material during the period. Against a backdrop of great volatility in supply prices (+68%), unit margins once again demonstrated impressive resilience thanks to the Group's diversification, both geographically and by product. PWKD11052017