Rubis: revises financial targets for 2024

(CercleFinance.com) - Group sales came in at E1,630m in Q3 2024, up 2% on Q3 2023, driven by higher volumes in Africa.


For the Energy Distribution business (Retail & Marketing), volumes were up 7% in Q3 2024 on the same period in 2023. Gross margin was down slightly at -1% to E190m.

Bitumen volumes were up 18% y-o-y, on the back of continued good performance in South Africa, Togo and Cameroon.

The Support & Services business recorded total sales of E258m in Q3 (+2% y-o-y). Margins fell significantly (-25% y-o-y) to E29m after a very good Q3 2023.

Rubis has revised its financial targets for 2024. It is now targeting gross operating income: E[675-725]m versus E[725-775]m, net income group share (including a net capital gain of E83m on the disposal of Rubis Terminal): E[340-375]m versus "stable" compared with E354m for FY 2023.


Copyright (c) 2024 CercleFinance.com. All rights reserved.