Rubis S.A.

Rubis is a holding company based in France. Co., through its subsidiaries, is engaged in the bulk import, production or distribution process, and storage of petroleum products in Europe, the Caribbean, and Africa. Co. operates bulk liquid storage facilities for petroleum products, chemicals, fertilizers, edible oils and molasses, and foodstuffs, as well as distributes butane, propane, and petroleum products in wholesale and retail. Co.'s customers primarily include hypermarkets and supermarkets; oil companies; chemists; and traders and intermediaries of fuel, oil or gas, manures, and other liquids.
  • TickerRUI
  • ISINFR0013269123
  • ExchangeEuronext Paris
  • SectorGas, Water & Multi-utilities
  • CountryFrance

A double requalification allows RUBIS to improve to Slightly Positive

RUBIS (FR), a company active in the Oil Equipment & Services industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was EUR 42.18 and its potential was estimated at EUR 47.48.

Rubis : Safe haven in the global oil mess

We are adding Rubis to the list of infrastructure stocks under our coverage. This is a particularly interesting story in the context of the global shortage of oil storage capacities that is now prevailing.  

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Harald Eggeling
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/07/2020

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Harald Eggeling
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/05/2020

...

Emmanuel Matot

Rubis : A publication broadly in line with our latest expectations

>Broadly satisfactory indicators in Q1 - No significant impact of the global health crisis yet - Rubis reported its Q1 2020 sales yesterday evening. We retain broadly satisfactory performance indicators with:for the energy division (64% of 2019 net profit): a pleasant surprise on volumes distributed (stability at constant scope vs ODDO BHF = decline) but a disappointment on unit margins (stability excl. stock write downs vs ODDO BHF = increase).for the suppo...

Jérôme VINERIER

Analyse court terme - RUBIS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 46,10 € prochainement. Le prochain objectif est à 42,40 €, puis 40,20 €. Le franchissement de 52,10 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - RUBIS : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €46.10. The next target is at €42.40, then €40.20. Passing €52.10 would question the continuation of the fall.

Jérôme VINERIER

Short term view - RUBIS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €42.40. The background trend would be questioned should prices rise above €52.10.

Jérôme VINERIER

Analyse court terme - RUBIS : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 42,40 €. La tendance de fond serait remise en cause en cas de franchissement de 52,10 €.

Valérie GASTALDY

Medium term view - RUBIS : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Rubis: 1 director sold

A director at Rubis sold 23,068 shares at 55.850EUR and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members ...

Rubis : Safe haven in the global oil mess

We are adding Rubis to the list of infrastructure stocks under our coverage. This is a particularly interesting story in the context of the global shortage of oil storage capacities that is now prevailing.  

Emmanuel Matot

Rubis : A publication broadly in line with our latest expectations

>Broadly satisfactory indicators in Q1 - No significant impact of the global health crisis yet - Rubis reported its Q1 2020 sales yesterday evening. We retain broadly satisfactory performance indicators with:for the energy division (64% of 2019 net profit): a pleasant surprise on volumes distributed (stability at constant scope vs ODDO BHF = decline) but a disappointment on unit margins (stability excl. stock write downs vs ODDO BHF = increase).for the suppo...

Emmanuel Matot

Rubis : Une publication assez conforme à nos dernières attentes

>Des indicateurs globalement satisfaisants au T1 – Pas d’impact encore significatif de la crise sanitaire mondiale - Rubis a publié hier soir son CA T1. Nous retiendrons des indicateurs de performance globalement satisfaisants avec :Pour la branche Energie (64% du RN 19) : une bonne surprise sur les volumes distribués (stabilité à périmètre constant vs ODDO BHF = baisse) mais une déception sur les marges unitaires (stabilité hors dépréciation des stocks vs ODDO B...

Emmanuel Matot

Rubis : Questioning of the model’s resilience to COVID-19

>The Energy branch impacted by the current health crisis - Resilience confirmed for the Terminal branch - We organised two conference calls on Thursday afternoon between Rubis’ CFO and investors to take stock of the current situation. The information gathered, coupled with our latest research, points to a considerable drop in demand for petroleum products worldwide in recent weeks following the spread of the COVID-19 epidemic and the confinement measures. Volumes...

Emmanuel Matot

Rubis : Remise en cause de la résilience du modèle à COVID-19

>La branche Energie impactée par la crise sanitaire actuelle – Résilience confirmée pour la branche Terminal - Nous avons organisé jeudi après-midi 2 conférences téléphoniques entre le CFO de Rubis et les investisseurs afin de faire un point sur la situation actuelle. Les informations recueillies couplées à nos dernières recherches mettent en avant une chute considérable de la demande de produits pétroliers au niveau mondial ces dernières semaines suite à la prop...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Harald Eggeling
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/07/2020

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Harald Eggeling
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/05/2020

...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/14/2020

We held a conference call last Wednesday with Stéphane Bancel, Moderna’s CEO. We were able to discuss the next stages involved in the development of its COVID-19 vaccine which, it is worth noting, is the first to be tested in humans. Considering the progress being made and the prospect of its vaccine reaching the market within just a few months, we have now decided to factor this asset into our valuation model. We have thus adjusted our valuation from $ 32 to $ 37 and reiterate our Bu...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/04/2020

Nous organisions mercredi dernier une conférence téléphonique avec Stéphane Bancel, CEO de Moderna. Cet évènement a été l’occasion de revenir notamment sur les prochaines étapes de développement de son vaccin contre COVID-19 qui pour rappel est le premier à être testé chez l’homme. Suite aux avancées en cours et la perspective de mettre son vaccin sur le marché dans quelques mois, nous prenons la décision d’inclure cet actif dans notre modèle de valorisation. Nous ajustons notre objec...

Antoine Boivin-Champeaux ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Harald Eggeling
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Oussema Denguir
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/13/2020

...

A double requalification allows RUBIS to improve to Slightly Positive

RUBIS (FR), a company active in the Oil Equipment & Services industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was EUR 42.18 and its potential was estimated at EUR 47.48.

Jehanne Leroy

Rubis - Assemblée générale des actionnaires du 11 juin 2019

Nous regrettons que, malgré nos demandes de 2016, la société ne propose toujours pas de modification de son article 56 relatif au dividende statutaire des associés commandités. En effet, selon Proxinvest, la formule de l’article 56 n’empêche pas un scénario d’enrichissement des associés commandités et d’appauvrissement des actionnaires sur plusieurs années et ce dividende statutaire d'associé commandité peut avoir de potentiels effets pervers (effet de cliquet et prélèvements excessifs par rapport au risque supporté).En 2017 par exemple, le cours a augmenté de 51% et le dividende statutaire a ...

Jehanne Leroy

Proxy Report - 07/06/2018

Cette année encore, un problème de fond inhérent à la structure SCA de la société demeure : les gérants sont supposés indéfiniment responsables sur leurs patrimoines personnels des dettes de la Société. En contrepartie de cette responsabilité, ils touchent un dividende statutaire prélevé sur la capitalisation boursière de la société. Or, les quelques informations disponibles démontrent clairement qu'en cas de situation financière de Rubis nécessitant un remboursement des dettes par les Gérants, ceux-ci ne seraient pas en mesure de le faire. Cette prétendue responsabilité n'est donc qu'un effe...

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