RUBIS
EXCELLENT PERFORMANCE - NET INCOME: +54%
August 31, 2015
Rubis' Supervisory Board, which met on August 31, has approved the financial statements for the six months to June 30, 2015.
The first half of 2015 was characterized by robust growth of 18% in total business volume (+7% at constant scope). This growth enabled the Group to post a record net income, Group share of €80 million, an increase of 54% (+30% at constant scope).
Key figures for the first half of 2015
As of June 30 (€ million) | 2014 | 2015 | Change |
Revenue | 1,361 | 1,297 | -5% |
Gross operating profit (EBITDA) | 106 | 151 | +42% |
Current operating income (EBIT), of which: | 77 | 111 | +44% |
Rubis Énergie | 38 | 81 | +115% |
Rubis Support and Services | 18 | 16 | -12% |
Rubis Terminal | 28 | 23 | -20% |
Net income, Group share | 52 | 80 | +54% |
Cash flow | 82 | 113 | +37% |
Capital expenditure | 46 | 64 | - |
The results were driven by Rubis Énergie (distribution of petroleum products), which enjoyed a 20% increase in volumes (+6% at constant scope) on the back of the return to "normal" weather conditions, a significant increase in the unit margin (+16%), favorable currency effects and the results of restructuring undertaken in South Africa and the Jamaica-Bahamas subregion.
In total, Rubis Énergie's EBIT grew by 115% (+74% at constant scope, excluding Portugal, and +58% at constant scope and exchange rates).
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Rubis Support and Services, which now houses the refining (SARA) and logistics-supply (shipping, trading)businesses, reported EBIT of €16 million, with a stable contribution from SARA and a decline in the contribution of the trading business in the wake of the exceptional performance logged in 2014.