Rubis : Warning on 2024 EBITDA
>EBITDA target cut by 7% for 2024 - Rubis has cut its 2024 EBITDA target by surprise this morning, without waiting for the Q3 sales release next Tuesday evening. EBITDA is now forecast at € 675-725m (vs € 725-775m previously and € 798m recorded in 2023). Our forecasts were already at the bottom end of management’s initial expectations (at € 725m vs consensus = € 731m).This underperformance is explained by: 1/ the drop in oil prices, which is impacting inventory v...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.
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.
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