Rubis: weighed down by revised annual targets

(CercleFinance.com) - Rubis is down 8% following a revision of its financial outlook for 2024, with the energy specialist now expecting PBIT of between €675 and €725 million, compared with €725 to €775 million previously.


This revision is due to a combination of macroeconomic factors and operational impacts, including the recent escalation of conflicts in the Middle East and lower-than-expected shipping activity.

As financial income is expected to exceed previous estimates, partially offsetting EBITDA underperformance, Rubis now expects net income, group share to be between 340 and 375 million, rather than the 'stable' 354 million forecast for 2023.

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