A MULTI-LOCAL SPECIALIST

Transcription

1 2017 Annual Results

2 A MULTI-LOCAL SPECIALIST STORAGE RETAIL DISTRIBUTION SUPPORT AND SERVICES OF FUEL PRODUCTS Key facts Key figures Storage Fuel distribution Support and Services Outlook 2

3 KEY FACTS Key facts Key figures Storage Fuel distribution Support and Services Outlook 3

4 JANUARY Acquisition of the remaining 50% of Delta Rubis Petrol (raising Rubis stake to 100%). New name: Rubis Terminal Petrol MAY Acquisition of Dinasa and its subsidiary Sodigaz, leading fuel products marketer in Haiti JULY Acquisition of Galana Group, leading fuel products marketer in Madagascar Acquisition of Repsol s LPG distribution and piped networks in Portugal OCTOBER Acquisition of EG Retail s motor gas stations in Corsica and 21.5% stake in the fuel logistics company DPLC (already Group s subsidiary) DÉCEMBER / JANUARY Acquisition of a bitumen production unit in Iran to secure access to bitumen supply in line with its development strategy Key facts Key figures Storage Fuel distribution Support and Services Outlook 4

5 KEY FIGURES As of December 31, 2017 Key facts Key figures Storage Fuel distribution Support and Services Outlook 5

6 CONSOLIDATED DATA (in M) Revenue EBITDA EBIT Net profit, Group share 3, , % +21% +23% +28% 20% Constant 0% Constant -2% Constant +3% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 6

7 CONSOLIDATED DATA (in M) Capital expenditure Shareholder s equity Net financial debt 206 1,986 2, A SOUND FINANCIAL STRUCTURE DEBT / EBITDA: 1.38 DEBT / EQUITY: 0.33 Key facts Key figures Storage Fuel distribution Support and Services Outlook 7

8 CONSOLIDATED DATA (in M) Net financial position as of December 31, 2016 (228) Cash flow 397 Change in working capital (84) Rubis Terminal capex (48) Rubis Énergie capex (114) Rubis Support and Services capex (20) Rubis Holding capex (23) Net acquisition of financial assets (513) Change in loans and deposit and other items 1 Dividend paid out to shareholders and minority interest (148) Increase in shareholder s equity 116 Impact of change in and exchanges rates (23) Net financial position as of December 31, 2017 (687) Key facts Key figures Storage Fuel distribution Support and Services Outlook 8

9 RUBIS TERMINAL BULK LIQUID STORAGE Fuels Fertilizers Chemicals Molasses/edible oils Key facts Key figures Storage Fuel distribution Support and Services Outlook 9

10 RUBIS TERMINAL - STORAGE CAPACITY: 3.5 MILLION CBM 475 Dunkirk 197 Rotterdam 190 Antwerp 131 Brest 756 Rouen Strasbourg Reichstett Village-Neuf (Mulhouse) St-Priest Villette-de-Vienne Salaise-sur-Sanne Dörtyol (Turquie) 650 Corsica 37 Capacity geographical breakdown ( 000 cbm) fuel (77 %) Chimicals (11%) Fertilizers (7%) Edible oils (4%) Molasse (1%) Key facts Key figures Storage Fuel distribution Support and Services Outlook 10

11 RUBIS TERMINAL CONSOLIDATED DATA (in M) REVENUE EBITDA EBIT % +37% +29% +4% Including EM* +10% Including EM* +4% Including EM* * Equity method: Antwerp and Rubis Terminal Petrol (50%) Key facts Key figures Storage Fuel distribution Support and Services Outlook 11

12 RUBIS TERMINAL STORAGE BUSINESS GLOBAL PERIMETER INCLUDING ANTWERP AT 100% FUELS CHEMICALS FERTILIZERS EDIBLE OILS AND MOLASSES +8% Fuel France: +4% Capacity increase: Reichstett, Villette-de-Vienne, Rouen Rotterdam heavy fuel: +2% Turkey (Irak/Transit): +18% +27% Rotterdam / Antwerp: +32% Occupancy rate> 95% France (new contracts): +12% +2% Stable at a high level -8% Start of new contracts in 2018 REVENUE BREAKDOWN 65 % 28 % 5 % 2 % Key facts Key figures Storage Fuel distribution Support and Services Outlook 12

13 RUBIS TERMINAL STORAGE BUSINESS CHANGE IN EBIT INCLUDING JOINT VENTURES* (in M) France storage Rotterdam Rotterdam nonrecurring items (purchase of Rubis Equity method* Turkey -2% +39% +44% Terminal Petrol: + 50%) RS: +18% CS: +4% * Equity method: Antwerp and Rubis Terminal Petrol (50%) Key facts Key figures Storage Fuel distribution Support and Services Outlook 13

14 RUBIS TERMINAL CONSOLIDATED DATA (in M) Cash flow Capital expenditure % Key facts Key figures Storage Fuel distribution Support and Services Outlook 14

15 RUBIS ÉNERGIE FUEL DISTRIBUTION Motor gas stations Commercial and industrial fuels LPG Aviation/marine Lubricants Bitumen Key facts Key figures Storage Fuel distribution Support and Services Outlook 15

16 RUBIS ÉNERGIE: 4.5 MILLION CBM IN RETAIL DISTRIBUTION Bermuda Western Caribbean Eastern Caribbean 2 Antilles French Guiana 2 Jamaica 4 France 1 Haiti 19% 3 Spain 2 Portugal 1 1 Channel Islands Switzerland 51% Djibouti Morocco Botswana Swaziland Reunion Togo Madagascar South Africa Nigeria 30% 2 Lesotho 1 Senegal 1 Comoros 3 Iran LPG (26%) Fuel (67%) Bitumen (7%) Market position Key facts Key figures Storage Fuel distribution Support and Services Outlook 16

17 RUBIS ÉNERGIE: KEY FIGURES RETAIL DISTRIBUTION Volumes retailed ( 000 cbm) Gross margin (in M) 3, , % +3% Constant +19% +4% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 17

18 RUBIS ÉNERGIE: DISTRIBUTION BUSINESS CHANGE IN VOLUMES RETAIL DISTRIBUTION (AT CONSTANT STRUCTURE) (in 000 m 3 ) , Europe constant -3 Europe (exit from : Multigas) Caribbean constant +3% 431 Caribbean new : Haiti Africa constant +1% +5% Africa new : Galana 3,992 RS: +19% CS: +3% Key facts Key figures Storage Fuel distribution Support and Services Outlook 18

19 RUBIS ÉNERGIE: SUPPLY PRICES HIGH RESILIENCE OF UNIT MARGINS COMPARED TO OIL PRICES VOLATILITY PROPANE IN USD / TONNE (in euros) Quotation : -38% UM (excluding bitumen) : +15% (in euros) Quotation : +43% UM (excluding bitumen) : -2% (in euros) Quotation : +16% UM (excluding bitumen : -2% J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Quotation in USD: +46% Unit margin all products with comparable and structure: +1% Key facts Key figures Storage Fuel distribution Support and Services Outlook 19

20 RUBIS ÉNERGIE: EBIT BY GEOGRAPHICAL BREAKDOWN (in M) Total Rubis Énergie Europe Caribbean Africa % -10% +52% +41% +4% Constant -8% Constant +2% Constant +20% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 20

21 RUBIS ÉNERGIE: DISTRIBUTION BUSINESS CHANGE IN EBIT BY GEOGRAPHICAL BREAKDOWN (in M) Europe constant Europe (exit from : Multigas) Caribbean constant +2% Caribbean new : Haiti Africa constant -8% +20% Africa new : Galana RS: +27% CS: +4% Key facts Key figures Storage Fuel distribution Support and Services Outlook 21

22 RUBIS ÉNERGIE: CONSOLIDATED DATA (in M) Cash flow Capital expenditure % Key facts Key figures Storage Fuel distribution Support and Services Outlook 22

23 RUBIS SUPPORT AND SERVICES Refining (SARA) Shipping Trading Logistics Key facts Key figures Storage Fuel distribution Support and Services Outlook 23

24 RUBIS SUPPORT AND SERVICES CHANGE IN EBIT BY ACTIVITY (in M) Sara Fuel-trading /shipping Bitumen trading /shipping excl. Non-recurring /shipping Galana logistics RS: +2% Caribbean non-recurring bitumen Madagascar Key facts Key figures Storage Fuel distribution Support and Services Outlook 24

25 RUBIS SUPPORT AND SERVICES: CONSOLIDATED DATA (in M) Cash flow Capital expenditure stable Key facts Key figures Storage Fuel distribution Support and Services Outlook 25

26 CAPEX (in M) 2016 réel 2017 réel 2018 budget Safety, maintenance RUBIS ÉNERGIE Organic growth TOTAL RUBIS ÉNERGIE RUBIS SUPPORT AND SERVICES TOTAL RUBIS SUPPORT AND SERVICES Safety, maintenance RUBIS TERMINAL New projects (France) Capacity extension (Rotterdam) TOTAL RUBIS TERMINAL Total Key facts Key figures Storage Activité Distribution Support and Services Outlook 26

27 OUTLOOK 2018 Key facts Key figures Storage Fuel distribution Support and Services Outlook 27

28 Photo Credits: rubis Gilles Dacquin T h e w i l l t o u n d e r t a k e, t h e c o r p o r a t e c o m m i t m e n t