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RUBIS: H1 2022 results: Strong earnings growth: +20% and solid balance sheet

·20-min read

RUBIS
RUBIS: H1 2022 results: Strong earnings growth: +20% and solid balance sheet

08-Sep-2022 / 17:45 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Paris, 8 September 2022, 5:45pm

 

H1 2022 RESULTS:

STRONG EARNINGS GROWTH: +20%

AND SOLID BALANCE SHEET

 

 

+20% increase in adjusted EPS amid challenging environment, first time consolidation of Photosol:

  • H1 2022 volumes: 2,826 km3, +7% vs H1 2021 and 3% ahead of pre-Covid levels (H1 2019[1]).

  • Strong unit profit[2] in the context of rising supply prices: +6% vs H1 2021.

  • H1 2022 EBIT: €244m, +30% vs H1 2021, supported by all regions (+14% vs H1 2019).

  • Adjusted net income[3]: €169m, +17% vs H1 2021, ahead of the record pre-Covid level of H1 2019 (+10% vs 2019 excluding Rubis Terminal).

  • Adjusted EPS (diluted): €1.64, +20% vs H1 2021, ahead of the record pre-Covid level of H1 2019 (+5% vs 2019 excluding Rubis Terminal).

  • Operational cash flow before changes in working capital[4]: €255m, +7% vs H1 2021 and +16% vs pre-Covid H1 2019 (excluding Rubis Terminal).

  • Corporate net financial debt[5] (corporate NFD) at €1,102m, 2.1x corporate NFD/EBITDA pre-IFRS 16, vs €438m as of 31/12/2021. Increase in net debt is due to the completion of Photosol acquisition, outflow from changes in working capital and dividend payment.

  • Net financial debt (NFD) at €1,436m, 2.6x net debt/EBITDA pre-IFRS 16, includes Photosol €334m non-recourse project debt at SPV level.

 

Outlook

The first half of the year has demonstrated excellent volumes and earnings growth. While all regions posted positive development, the Caribbean region was the main growth driver with strong recovery post-Covid and favourable comparison base. Whereas comparison base is set to normalise and current macro-environment is challenging, the Group is confident in solid earnings growth for the full year 2022.

In the mid-and long-term, the company should benefit from numerous growth drivers - newly added renewable energy segment as well as within its historical business. The latter has advantage of its exposure to regions with growing population and growing energy demand, portfolio improvement in Eastern Africa and exposure to bitumen in Africa considering the growing need for road infrastructure on the long term.

Given the current geopolitical environment, the Group reminds that it does not carry out any transactions in Ukraine or Russia and does not have any assets in these territories. In addition, it does not source from Ukrainian or Russian suppliers. To date, even if the Group has not identified any direct exposure to this risk, it will continue to monitor developments in the situation and their potential impact on its activities, as well as the indirect effects of the conflict on the sector's global supply chain.

Paris, 8 September 2022 – Rubis is announcing its 2022 half-year financial results.

The Group's condensed consolidated financial statements as of 30 June 2022 were reviewed by the Supervisory Board on 8 September 2022. The Group's Statutory Auditors have performed their review of these financial statements and their report on the half-yearly financial information was issued on the same date.

During the Supervisory Board meeting, the Management Board commented on the results: "Half-year results show an excellent operational performance across all regions. This is especially the case in the Caribbean region that has reported impressive growth above expectations.

Moreover, the company has accomplished its strategic entry into renewable energy segment with transformational acquisition of Photosol – one of the leading independent French solar companies and its first-time consolidation from 1st April 2022.

The timing of the Photosol acquisition is extremely interesting in the view of the Russia-Ukraine crisis, the predicted gas shortage and as a result the government's initiatives to strengthen and accelerate the energy transition. The government in particular targets to reduce deadlines and adjust thresholds for the submission of building permits, with a particular focus on photovoltaic and wind energy.

With the development of over 3 GW pipeline, Photosol set to contribute to Rubis earnings growth in the mid- and long-term. Required investments are set to be debt-financed by Photosol on the project level.

As such, Rubis historical business with its strong cash flow generation will further sustain shareholder friendly dividend policy and value enhancing bolt-on acquisitions across all divisions”. 

First half of 2022 was excellent with 30% increase in EBIT to €244m exceeding record H1 2019 - pre-Covid level. All businesses have reported solid EBIT performance: Retail & Marketing with 26% increase in EBIT to €184m, Support & Services up 22% to €75m and first-time positive contribution from Photosol at €1m for three months, April to June 2022. Rubis Terminal JV has continued its steady growth with 3% in storage revenues and 4% in adjusted EBITDA in H1 2022 vs H1 2021. 

H1 2022 results have several non-recurring items both positives and negatives mostly due to the acquisition of Photosol (-€8m after tax) and divestment of the Turkey depot of the Rubis Terminal JV (+€11m after tax). Adjusted for non-recurring items and IFRS 2 charges, net income stands at €169m, +17% yoy and ahead of pre-Covid record H1 2019 (+10% excluding Rubis Terminal).

Operational cash flow before changes in working capital[6] reached €255m (+7% vs H1 2021 and exceeding pre-Covid H1 2019 level).

Acquisition of Photosol in April 2022 has an important impact on Rubis balance sheet. With excellent long-term visibility thanks to 20 years contract duration and very low risk profile, Photosol is able to finance its development pipeline with high debt leverage. It is important to note that the majority of the debt is non-recourse project debt at SPV level. Thus, going forward Rubis will communicate separately on its total financial debt and on its corporate financial debt (i.e., excluding non-recourse project debt).

Rubis corporate net financial debt (corporate NFD) increased to €1,102m by the end of H1 2022 (from €438m as of FY 2021) with corporate NFD/EBITDA pre-IFRS 16 at 2.1x. Dividend paid 100% in cash in June 2022 (€191m), acquisition of 80% stake in Photosol (€341m) and changes in working capital with increasing oil prices (€179m outflow) were the main factors behind the increasing debt. The Company has spent €97m on CapEx split between expansion maintenance (two thirds) and development (one third), including €12m of CapEx for Photosol in Q2 2022.

Consolidated financial statements as of 30 june 2022

(en millions d'euros)

S1 2022

S1 2021

2022 vs 2021

Revenue

3,290

2,051

60%

EBITDA

314

257

22%

EBIT, of which

244

188

30%

Retail & Marketing

184

146

26%

Support & Services

75

61

22%

Renewable Energy (1)

1

-

- 

Net income, Group share

170

136

25%

Adjusted net income, Group share (2)

169

144

17%

Adjusted EPS (diluted)

1.64

1.37

20%

Operational cash flow (3)

255

238

7%

Capital expanditures, of which

97

90

- 

Retail & Marketing

65

69

- 

Support & Services

20

21

-

Renewable Energy

12

 -

- 

(1) Renewable Energy – newly established division following acquisition of Photosol.

(2) Adjusted net income – excluding non-recurring items and IFRS 2.

(3) Cash flow from operations after financial expenses and taxes and before change in working capital.

 

The Retail & Marketing division (70% of Group EBIT[7]) includes the distribution of fuels (service-station networks), liquefied gases, bitumen, commercial fuel oil, aviation, marine and lubricants in three geographic areas: Europe, the Caribbean and Africa.

Overall, volumes are +7% compared to H1 2021 with excellent development in East Africa (focus on the service-station network) and buoyant aviation driven by tourism and end of Covid-linked restriction measures.

Volumes sold by region in H1 2019-2021

(in '000 m3)

2022

2021

2020

2019

2022

vs 2021

Europe

443

439

402

465

1%

Caribbean

1,117

983

966

1,138

14%

Africa

1,267

1,228

1,111

1,006

3%

TOTAL

2,826

2,650

2,479

2,609

7%

 

Gross profit reached €367m, up 13% vs 2021, driven by both volume and solid unit margin development across all regions.

  

Retail & Marketing division gross and unit profit in H12022

 

Gross profit
(in €m)

Split

2022 vs 2021

Unit profit
(in €/m3)

Change yoy

Europe

110

30%

8%

250

7%

Caribbean

124

34%

29%

111

14%

Africa

132

36%

5%

104

2%

TOTAL

367

100%

13%

130

6%

 

  • Europe, thanks to its strong LPG positioning and unit margin performance, reported EBIT of €46m, up 21% vs H1 2021, and above pre-Covid level in 2019 (€39m).

  • The Caribbean region has seen marked improvement in H1 2022, driven by recovery in tourism/aviation, with both volumes and unit margin up double digit. Thus, EBIT was up 78% yoy to €58m.

  • Lastly, Africa reported an excellent development in East Africa with double-digit EBIT growth thanks to the investments in the service-stations optimisation programme. Though partially offset by ongoing challenges in Madagascar, reported EBIT came in at €81m, only 6% increase yoy.

EBIT by ReGION H1 2019 – 2022

(in m)

2022

2021

2020

2019

2022

vs 2021

Europe

46

38

35

39

21%

Caribbean

58

33

49

68

78%

Africa

81

76

46

69

6%

TOTAL RETAIL & MARKETING

184

146

130

176

26 %

 

The Support & Services division (30% of Group EBIT[8]) posted +22% increase in EBIT to €75m supported by recovery in the Caribbean region with supply and shipping activities, strength of the bitumen sector and logistics in the Indian Ocean.

EBIT support & services IN H1 2019 – 2022

(in m)

2022

2021

2020

2019

2022

vs 2021

EBIT, of which

75

61

52

51

22%

SARA

10

14

14

20

-24%

Others

64

48

38

30

35%

 

Newly established Renewable Energy division includes Photosol activities, acquired in April 2022, as well as the 18.5% stake in HDF Energy, acquired in June 2021. Creation of this division and future investments will enable the Group to achieve a target of 25% of its EBITDA in renewable energies in the medium term, with a minimum of 2.5 GW of installed photovoltaic capacity in France by 2030.

The accounts of Photosol have been included in the Group's consolidation from 1st April 2022, i.e., for a period of three months to 30 June 2022.

REsults of the renewable energy divsion in h1 30 juin 2022

(in m)

Q2 2022

Installed capacity (MWp)

330

Electricity production (GWh)

139

Sales

12

EBITDA

7

Capex

12

Project non-recourse debt

334

As of 30 June 2022, Photosol portfolio consists of:

  • 476 MW secured portfolio - capacities in operations, under construction and awarded projects;

  • development pipeline exceeding 3 GW, out of which 1,2 GW advanced development and tender ready projects and 2,3 GW in early stage.

The last CRE tender was a great success for Photosol with 100% of its bids awarded, or 25 MWp.

 

The Rubis Terminal JV has delivered solid performance with +3% storage revenue growth to €112m, with acceleration in Q2 2022 (+5%), driven by biofuel, chemicals and agri-food. Adjusted EBITDA has increased by +4% to €57m in H1 2022. With high financial leverage in place, share of Rubis underlying profit stood at €1.8m in H1 2022 vs €1.2m in H1 2021. With the sale of its activities in Turkey in January 2022, Rubis has recorded capital gain, that boosted reported share of profits to €11.4m. It is reminded that Rubis Terminal generates on annual basis free cash flow after tax, financial charges, and maintenance investment of €40-50m, which compared to total equity of €594m (for 100%) gives a cash return of 9%.

 

ESG

In 2022, Rubis actively pursues the implementation of its Think Tomorrow 2022-2025 Roadmap and its climate approach. In particular, the Group is assessing additional decarbonisation opportunities to align with a well-below 2°C trajectory, including developing an emission reduction target for scope 3A (i.e., excluding products sold) in addition to the one defined for scopes 1 and 2 (-30% in 2030, baseline 2019, Rubis Énergie perimeter at constant scope) and setting an internal carbon price that will help it guide its investments.

 

Webcast for the investors and analysts

Date: 8 September 2022, 6:00pm

Link to register for the webcast: https://channel.royalcast.com/rubisen/#!/rubisen/20220908_1

 

Participants from Rubis:

  • Jacques Riou, Managing Partner

  • Bruno Krief, CFO

  • Clarisse Gobin-Swiecznik, Managing Director in charge of New Energies, CSR, and Communication

 

 

 

Next publication:

Q3 2022 trading update: 8 November 2022 (after market)

 

  

 

 

This document is a translation of the original French document and is provided for information purposes only. In all matters of interpretation of information, views or opinions expressed therein, the original French version takes precedence over this translation

 

 

Press Contact

Analyst Contact

RUBIS Communication department

RUBIS – Anna Patrice, Head of IR

Tel: +(33) 1 44 17 95 95

presse@rubis.fr

Tel: +(33) 1 45 01 72 32

investors@rubis.fr

 

 

appendix

Reconciliation of net income Group share to adjusted net income Group share

(in m)

H1 2022

H1 2021

H1 2019

2022
vs 2021

2022
vs 2019

Net income, Group share

170

136

157

25%

8%

Non-recurring items: share of net income from JV and others (Rubis Terminal)

-14

-3

-

-

-

Expenses related to the acquisitions

8

-

5

-

-

IFRS 2 expenses (Rubis SCA)

4

11

4

-

-

Adjusted net income, Group share (excluding non-recurring items and IFRS 2)

169

144

166

17%

2%

Net income from discontinued operations

-

-

-14

-

-

Share of net income from JV (Rubis Terminal)

-2

-1

-

-

-

Adjusted net income, Group share excluding Rubis Terminal

167

143

152

17%

10%

Composition of net debt/EBITDA excluding IFRS 16

(in m)

30/06/2022

31/12/2021

Corporate net financial debt (Corporate NFD)

1,102

438

EBITDA

314

532

Rental expenses IFRS 16

19

41

EBITDA pre-IFRS 16

295

491

Corporate NFD/LTM(1) EBITDA pre-IFRS 16

2.1

0.9

Non-recours project debt (Photosol)

334

-

Total net financial debt (Total NFD)

1,436

438

Total NFD/LTM EBITDA pre-IFRS 16

2.6

0.9

(1) LTM : last 12 months.

 

Retail & marketing volume development by product in H1 2022

(in '000 m3)

Split

Volume development

Gross profit

Volumes

vs 2021

vs 2019
(constant scope) (1)

LPG

40%

22%

1%

1%

Service stations

23%

37%

9%

-4%

Bitumen

12%

9%

-6%

49%

Commercial

15%

21%

3%

-4%

Aviation

7%

8%

20%

-18%

Other

3%

3%

-

-

Total

100%

100%

7%

3%

(1) Constant scope: excluding acquisition of KenolKobil in East Africa.

 

RETAIL & MARKETING VOLUME DEVELOPMENT BY REGION IN Q2 2022

(in '000 m3)

2022

2021

2020

2019

2022

vs 2021

Europe

195

198

161

213

-2%

Caribbean

554

501

402

584

11%

Africa

639

631

512

733

1%

TOTAL

1,388

1,329

1,075

1,530

4%

Retail & marketing Gross profit IN H1 2019-2022

(in m)

2022

2021

2020

2019

2022

vs 2021

Europe

110

102

98

101

8%

Caribbean

124

96

112

132

29%

Africa

132

125

97

126

5%

TOTAL

367

324

307

359

13%

RETAIL & MARKETING unit PROFIT IN H1 2019-2022

(in €/m3)

2022

2021

2020

2019

2022

vs 2021

Europe

250

233

244

217

7%

Caribbean

111

98

116

116

14%

Africa

104

102

87

125

2%

TOTAL

130

122

124

137

6%

 


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Asset (in thousands of euros)

30/06/2022

31/12/2021

Non-current assets

 

 

Intangible assets

74,537

31,714

Goodwill

1,809,943

1,231,635

Property, plant and equipment

1,666,946

1,268,465

Property, plant and equipment – right-of-use assets

220,729

166,288

Interests in joint ventures

322,026

322,171

Other financial assets

191,603

132,482

Deferred taxes

22,291

12,913

Other non-current assets

11,117

10,408

TOTAL NON-CURRENT ASSETS (I)

4,319,192

3,175,936

Current assets

 

 

Inventory and work in progress

825,627

543,893

Trade and other receivables

839,263

622,478

Tax receivables

30,213

21,901

Other current assets

66,493

23,426

Cash and cash equivalents

774,407

874,890

TOTAL CURRENT ASSETS (II)

2,536,003

2,086,588

TOTAL ASSETS (I + II)

6,855,195

5,262,524

 

EQUITY AND LIABILITIES (in thousands of euros)

30/06/2022

31/12/2021

Shareholders’ equity – Group share

 

 

Share capital

128,693

128,177

Share premium

1,550,157

1,547,236

Retained earnings

1,066,124

941,249

Total

2,744,974

2,616,662

Non-controlling interests

130,162

119,703

EQUITY (I)

2,875,136

2,736,365

Non-current liabilities

 

 

Borrowings and financial debt

1,409,694

805,667

Lease liabilities

194,525

138,175

Deposit/consignment

147,882

138,828

Provisions for pensions and other employee benefit obligations

40,596

56,438

Other provisions

80,751

159,825

Deferred taxes

93,892

63,071

Other non-current liabilities

84,434

3,214

TOTAL NON-CURRENT LIABILITIES (II)

2,051,774

1,365,218

Current liabilities

 

 

Borrowings and short-term bank borrowings (portion due in less than one year)

800,466

507,521

Lease liabilities (portion due in less than one year)

23,990

23,742

Trade and other payables

1,026,449

601,605

Current tax liabilities

43,184

23,318

Other current liabilities

34,196

4,755

TOTAL CURRENT LIABILITIES (III)

1,928,285

1,160,941

TOTAL EQUITY AND LIABILITIES (I + II + III)

6,855,195

5,262,524

 CONSOLIDATED INCOME STATEMENT

 

(in thousands of euros)

Chg.

30/06/2022

30/06/2021

NET REVENUE

60%

3,290,166

2,051,085

Consumed purchases

 

(2,554,483)

(1,422,864)

External expenses

 

(249,218)

(205,291)

Employee benefits expense

 

(111,042)

(107,495)

Taxes

 

(61,527)

(58,151)

EBITDA

22%

313,896

257,284

Other operating income

 

523

545

Net depreciation and provisions

 

(73,836)

(70,599)

Other operating income and expenses

 

3,383

961

CURRENT OPERATING INCOME

30%

243,966

188,191

Other operating income and expenses

 

(7,845)

3,375

OPERATING INCOME BEFORE SHARE OF NET INCOME FROM JOINT VENTURES

23%

236,121

191,566

Share of net income from joint ventures

 

11,912

1,247

OPERATING INCOME AFTER SHARE OF NET INCOME FROM JOINT VENTURES

29%

248,033

192,813

Income from cash and cash equivalents

 

4,695

4,691

Gross interest expense and cost of debt

 

(15,670)

(10,358)

COST OF NET FINANCIAL DEBT

94%

(10,975)

(5,667)

Interest expense on lease liabilities

 

(4,701)

(4,302)

Other finance income and expenses

 

(17,327)

(8,494)

PROFIT (LOSS) BEFORE TAX

23%

215,030

174,350

Income tax

 

(41,452)

(31,714)

NET INCOME

22%

173,578

142,636

NET INCOME, GROUP SHARE

25%

169,766

136,148

NET INCOME, NON-CONTROLLING INTERESTS

-41%

3,812

6,488

 

Earnings per share (in euros)

24%

1.65

1.33

Diluted earnings per share (in euros)

27%

1.65

1.30

 

 

 CONSOLIDATED STATEMENT OF CASH FLOWS

 

(in thousands of euros)

30/06/2022

31/12/2021

30/06/2021

TOTAL CONSOLIDATED NET INCOME FROM CONTINUING OPERATIONS

173,578

304,739

142,636

Adjustments:

 

 

 

Elimination of income of joint ventures

(11,912)

(5,906)

(1,247)

Elimination of depreciation and provisions

86,044

163,201

83,861

Elimination of profit and loss from disposals

(1,101)

(599)

1,168

Elimination of dividend earnings

(186)

(91)

(1,310)

Other income and expenditure with no impact on cash (1)

8,641

3,468

13,183

CASH FLOW AFTER COST OF NET FINANCIAL DEBT AND TAX

255,064

464,812

238,291

Elimination of income tax expenses

41,452

65,201

31,714

Elimination of the cost of net financial debt and interest expense on lease liabilities

15,676

21,140

9,969

CASH FLOW BEFORE COST OF NET FINANCIAL DEBT AND TAX

312,192

551,153

279,974

Impact of change in working capital*

(178,512)

(214,456)

(187,946)

Tax paid

(36,442)

(42,039)

(21,773)

CASH FLOWS RELATED TO OPERATING ACTIVITIES

97,238

294,658

70,255

Impact of changes to consolidation scope (cash acquired - cash disposed)

57,031

 

 

Acquisition of financial assets: Retail & Marketing division

 

(83,985)

(82,591)

Acquisition of financial assets: Renewable Energies division (2)

(341,122)

 

 

Disposal of financial assets: Retail & Marketing division

 

3,463

3,400

Disposal of financial assets: Support & Services division

 

 

 

Investment in joint ventures

 

 

 

Acquisition of property, plant and equipment and intangible assets

(96,890)

(205,682)

(89,946)

Change in loans and advances granted

(21,961)

(1,653)

(300)

Disposal of property, plant and equipment and intangible assets

3,118

8,733

3,770

(Acquisition)/disposal of other financial assets

(588)

(157)

(6)

Dividends received

12,739

20,298

1,417

Other cash flows from investing activities (5)

4,063

 

9,538

CASH FLOWS RELATED TO INVESTING ACTIVITIES

(383,610)

(258,983)

(154,718)

 

 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

 

 

(in thousands of euros)

30/06/2022

31/12/2021

30/06/2021

Capital increase

3,441

6,995

7,024

Share buyback (capital decrease)

(4)

(153,160)

(103,950)

(Acquisition)/disposal of treasury shares

261

85

(5)

Borrowings issued

795,521

730,694

420,141

Borrowings repaid

(358,775)

(677,276)

(345,336)

Repayment of lease liabilities

(18,956)

(40,827)

(20,716)

Net interest paid (3)

(15,036)

(20,923)

(9,459)

Dividends payable

(191,061)

(83,577)

 

Dividends payable to non-controlling interests

(8,122)

(13,191)

(10,543)

Acquisition of financial assets: Retail & Marketing division

 

 

 

Disposal of financial assets: Retail & Marketing division

 

 

 

Acquisition of financial assets: Renewable Energies division

(1,238)

 

 

Other cash flows from financing operations (2)

(42,347)

 

 

CASH FLOWS RELATED TO FINANCING ACTIVITIES

163,684

(251,180)

(62,844)

Impact of exchange rate changes

22,205

8,811

(574)

Impact of change in accounting policies

 

 

 

CHANGE IN CASH AND CASH EQUIVALENTS

(100,483)

(206,694)

(147,881)

Cash flows from continuing operations

 

 

 

Opening cash and cash equivalents (4)

874,890

1,081,584

1,081,584

Change in cash and cash equivalents

(100,483)

(206,694)

(147,881)

Closing cash and cash equivalents (4)

774,407

874,890

933,703

Financial debt excluding lease liabilities

(2,210,160)

(1,313,188)

(1,331,940)

Cash and cash equivalents net of financial debt

(1,435,753)

(438,298)

(398,237)

(1) Including change in fair value of financial instruments, IFRS 2 expense, goodwill (impairment), etc.

(2) The impact of changes in the scope of consolidation is described in note 3.

(3) Net financial interest paid includes the impacts related to restatements of leases (IFRS 16).

(4) Cash and cash equivalents net of bank overdrafts.

(5) See note 15.

 

(*) Breakdown of the impact of change in working capital:

 

Impact of change in inventories and work in progress

(265,107)

Impact of change in trade and other receivables

(165,925)

Impact of change in trade and other payables

252,520

Impact of change in working capital

(178,512)

 

 

[1] Volumes H1 2022 at +3% vs H1 2019 at constant scope, i.e., excluding East Africa (KenolKobil acquisition).

[2] Unit margin or unit profit = gross profit per unit of distributed volumes.

[3] Adjusted net income – net income excluding non-recurring items and IFRS 2 charges, for more details see Annex. 

[4] Operational cash flow before changes in working capital (French “Capacité d’autofinancement”) = cash flow after taxes and net interest costs and before change in working capital.

[5] Corporate net financial debt – net financial debt excluding non-recourse project debt at SPV (special purpose vehicle) level. Corporate net debt/EBITDA is the ration of corporate net debt to EBITDA pre-IFRS16 and excluding Photosol SPV EBITDA.

[6] Operational cash flow before changes in working capital (French “Capacité d’autofinancement”) = cash flow after taxes, net interest costs and before change in working capital.

[7] 70% of Group EBIT before Holding costs in FY 2021.

[8] 30% of Group EBIT before Holding costs in FY 2021.

Regulatory filing PDF file

File: RUBIS: H1 2022 results: Strong earnings growth: +20% and solid balance sheet


Language:

English

Company:

RUBIS

46, rue Boissière

75116 Paris

France

Phone:

+33 144 17 95 95

Fax:

+33 145 01 72 49

E-mail:

investors@rubis.fr

Internet:

www.rubis.fr

ISIN:

FR0013269123

Euronext Ticker:

RUI

AMF Category:

Inside information / News release on accounts, results

EQS News ID:

1438771

 

End of Announcement

EQS News Service

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