May 11, 2012 [Reuters] - Despite unfavourable weather conditions in Europe and major increases in supply costs, Rubis Energie is successfully maintaining both its volumes and margins, once again demonstrating the resilience of its model.
Since the beginning of the business year the Group’s scope has been expanded through acquisitions:
- In Turkey, with an investment finalised in January of 50% in Delta Petrol Terminal, the biggest petroleum storage facility in the eastern Mediterranean.
- In the Bahamas, Cayman Islands and Turks and Caicos with the purchase from Chevron, finalised on 30 April, of its petroleum product distribution network, making Rubis a market leader in the region.
- In Botswana by finalising the acquisition on 7 March of Puma Energy’s LPG distribution business, strengthening an existing position.
Bulk Liquid (Product) Storage: Rubis Terminal
Rubis Terminal’s main activity, storage, has continued to grow at a steady rate, as measured by rental revenues: + 7% like for like and + 14%, to 31.3 EURM, with the inclusion of Delta Petrol’s operations in Turkey.
In France the start of this year has been positive in all sectors, with 4% growth: heating oil was down, because of a relatively warm winter, but diesel and petrol activity continued to grow alongside growth in imported products linked to restructuring in the refining industry.
In the ARA region (Antwerp – Rotterdam – Amsterdam), revenue is up 21%, to 5.1 EURM with the commercial introduction of new capacity at the two facilities in Rubis Antwerp and Rubis Rotterdam (10,000 cmnewly made available). At the latter location a major new contract for storing bunker fuel was signed with one of the world largest operator in the sector, bringing all available capacity into play.
