2017 Annual Results
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
KEY FACTS Key facts Key figures Storage Fuel distribution Support and Services Outlook 3
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
KEY FIGURES As of December 31, 2017 Key facts Key figures Storage Fuel distribution Support and Services Outlook 5
CONSOLIDATED DATA (in M) Revenue EBITDA EBIT Net profit, Group share 3,933 496 368 266 3,004 411 300 208 2016 2017 2016 2017 2016 2017 2016 2017 +31% +21% +23% +28% 20% Constant 0% Constant -2% Constant +3% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 6
CONSOLIDATED DATA (in M) Capital expenditure Shareholder s equity Net financial debt 206 1,986 2,078 687 163 228 2016 2017 2016 2017 2016 2017 A SOUND FINANCIAL STRUCTURE DEBT / EBITDA: 1.38 DEBT / EQUITY: 0.33 Key facts Key figures Storage Fuel distribution Support and Services Outlook 7
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
RUBIS TERMINAL BULK LIQUID STORAGE Fuels Fertilizers Chemicals Molasses/edible oils Key facts Key figures Storage Fuel distribution Support and Services Outlook 9
RUBIS TERMINAL - STORAGE CAPACITY: 3.5 MILLION CBM 475 Dunkirk 197 Rotterdam 190 Antwerp 131 Brest 756 Rouen Strasbourg Reichstett Village-Neuf (Mulhouse) 870 62 St-Priest Villette-de-Vienne Salaise-sur-Sanne 95 62 20 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
RUBIS TERMINAL CONSOLIDATED DATA (in M) REVENUE EBITDA EBIT 329 102 69 288 75 54 2016 2017 2016 2017 2016 2017 +14% +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
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
RUBIS TERMINAL STORAGE BUSINESS CHANGE IN EBIT INCLUDING JOINT VENTURES* (in M) 75 +8.6 74 70 65 62.8 +0.8 +4 60 55 50 45 40-0.9-1.3 35 30 2016 2017 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
RUBIS TERMINAL CONSOLIDATED DATA (in M) Cash flow Capital expenditure 75 67 48 52 2016 2017 2016 2017 2017 +44% Key facts Key figures Storage Fuel distribution Support and Services Outlook 14
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
RUBIS ÉNERGIE: 4.5 MILLION CBM IN RETAIL DISTRIBUTION 1 2 2 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% 1 3 2 Djibouti Morocco Botswana 2 1 1 Swaziland Reunion Togo 1 2 1 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
RUBIS ÉNERGIE: KEY FIGURES RETAIL DISTRIBUTION Volumes retailed ( 000 cbm) Gross margin (in M) 3,995 538 3,363 450 2016 2017 2016 2017 +19% +3% Constant +19% +4% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 17
RUBIS ÉNERGIE: DISTRIBUTION BUSINESS CHANGE IN VOLUMES RETAIL DISTRIBUTION (AT CONSTANT STRUCTURE) (in 000 m 3 ) 4 000 3 900 3 800 3 700 3 600 3 500 3 400 3 300 3 200 3 100 3 000 3,292 11 Europe constant -3 Europe (exit from : Multigas) 42 2016 2017 Caribbean constant +3% 431 Caribbean new : Haiti Africa constant +1% +5% 43 177 Africa new : Galana 3,992 RS: +19% CS: +3% Key facts Key figures Storage Fuel distribution Support and Services Outlook 18
RUBIS ÉNERGIE: SUPPLY PRICES HIGH RESILIENCE OF UNIT MARGINS COMPARED TO OIL PRICES VOLATILITY PROPANE IN USD / TONNE 600 550 500 (in euros) Quotation : -38% UM (excluding bitumen) : +15% (in euros) Quotation : +43% UM (excluding bitumen) : -2% 450 400 (in euros) Quotation : +16% UM (excluding bitumen : -2% 350 300 250 200 2015 2017 2016 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
RUBIS ÉNERGIE: EBIT BY GEOGRAPHICAL BREAKDOWN (in M) Total Rubis Énergie Europe Caribbean Africa 254 68 61 98 95 199 64 67 2016 2017 2016 2017 2016 2017 2016 2017 +27% -10% +52% +41% +4% Constant -8% Constant +2% Constant +20% Constant Key facts Key figures Storage Fuel distribution Support and Services Outlook 20
RUBIS ÉNERGIE: DISTRIBUTION BUSINESS CHANGE IN EBIT BY GEOGRAPHICAL BREAKDOWN (in M) 350 300 250 200 150 199.2-5.6-1.3 +1.2 +32.6 +15 +13 253.7 100 50 0 2016 2017 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
RUBIS ÉNERGIE: CONSOLIDATED DATA (in M) Cash flow Capital expenditure 247 114 200 74 2016 2017 2016 2017 +23% Key facts Key figures Storage Fuel distribution Support and Services Outlook 22
RUBIS SUPPORT AND SERVICES Refining (SARA) Shipping Trading Logistics Key facts Key figures Storage Fuel distribution Support and Services Outlook 23
RUBIS SUPPORT AND SERVICES CHANGE IN EBIT BY ACTIVITY (in M) 75 70 65 60 55 50 45 40 35 30 62.2 +0.4-0.6-4.4 2016 2017 Sara Fuel-trading /shipping Bitumen trading /shipping excl. Non-recurring /shipping Galana logistics RS: +2% Caribbean non-recurring bitumen Madagascar -3.5 +9.6 63.7 Key facts Key figures Storage Fuel distribution Support and Services Outlook 24
RUBIS SUPPORT AND SERVICES: CONSOLIDATED DATA (in M) Cash flow Capital expenditure 87 87 22 20 2016 2017 2016 2017 stable Key facts Key figures Storage Fuel distribution Support and Services Outlook 25
CAPEX (in M) 2016 réel 2017 réel 2018 budget Safety, maintenance 25 30 45 RUBIS ÉNERGIE Organic growth 49 84 115 TOTAL RUBIS ÉNERGIE 74 114 160 RUBIS SUPPORT AND SERVICES TOTAL RUBIS SUPPORT AND SERVICES 22 20 36 Safety, maintenance 24 27 34 RUBIS TERMINAL New projects (France) 23 21 14 Capacity extension (Rotterdam) 20 0 38 TOTAL RUBIS TERMINAL 67 48 86 Total 163 182 282 Key facts Key figures Storage Activité Distribution Support and Services Outlook 26
OUTLOOK 2018 Key facts Key figures Storage Fuel distribution Support and Services Outlook 27
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