Report
Emmanuel Matot

Rubis : Slump in volumes mitigated by unit margins and S&S

>The COVID crisis did much damage to H1 earnings but no worse than expected - Rubis released its H1 results yesterday evening. Earnings were down sharply due to the COVID crisis (net profit = -11% with -30% at constant scope) but came in ahead of our forecasts (which were particularly cautious).At constant scope, we note above all the fall in earnings in the energy division (underlying operating profit = -29% to € 130m), which was due to a collapse, as expected, ...
Underlying
Rubis SCA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Emmanuel Matot

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