Annuncio • Apr 20
Rubis Announces Resignation of Ronald Sämann from Supervisory Board, Effective May 5, 2026 Rubis announced that on April 17, 2026, Ronald Sämann, who joined Rubis’ Supervisory Board following the 2024 Annual General Meeting for a three-year term, announced his decision to resign from the Board with effect from May 5, 2026 for personal reasons. Annuncio • Mar 13
Rubis Proposes Dividend for Fiscal Year 2025 Rubis proposed dividend for Fiscal Year 2025. For the period, the management proposes another increase in dividend per share to €2.07 (+2% vs 2024). Annuncio • Nov 05
Rubis to Report Q2, 2026 Results on Sep 08, 2026 Rubis announced that they will report Q2, 2026 results on Sep 08, 2026 Annuncio • May 06
Rubis, Annual General Meeting, Jun 12, 2025 Rubis, Annual General Meeting, Jun 12, 2025. Location: salle pleyel, 252 rue du faubourg saint honore, paris France Annuncio • May 05
Rubis to Report Fiscal Year 2025 Results on Mar 12, 2026 Rubis announced that they will report fiscal year 2025 results on Mar 12, 2026 Annuncio • Nov 06
Rubis Revises Earnings Guidance for the Year 2024 Rubis revised earnings guidance for the year 2024. Net income group share (including a €83 million net capital gain from Rubis Terminal disposal): €[340-375] million from “stable” vs €354 million in fiscal year 2023. New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk High level of debt (53% net debt to equity). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €23.12, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Gas Utilities industry in Europe. Total loss to shareholders of 3.9% over the past three years. Reported Earnings • Sep 06
First half 2024 earnings released: EPS: €1.25 (vs €1.66 in 1H 2023) First half 2024 results: EPS: €1.25 (down from €1.66 in 1H 2023). Revenue: €3.34b (flat on 1H 2023). Net income: €129.5m (down 24% from 1H 2023). Profit margin: 3.9% (down from 5.1% in 1H 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annuncio • Jun 20
Rubis to Report Fiscal Year 2024 Results on Mar 13, 2025 Rubis announced that they will report fiscal year 2024 results After-Market on Mar 13, 2025 Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €27.78, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Gas Utilities industry in Europe. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Jun 07
Upcoming dividend of €1.98 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 18 June 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of German dividend payers (4.5%). In line with average of industry peers (6.4%). Declared Dividend • May 13
Dividend increased to €1.98 Dividend of €1.98 is 3.1% higher than last year. Ex-date: 14th June 2024 Payment date: 18th June 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • May 09
Rubis Reiterates Earnings Guidance for the Year 2024 Rubis reiterated earnings guidance for the year 2024. Net income Group share should remain stable despite the first-time application of the Global Minimum Tax representing an impact estimated between €20 million and €25 million. Reported Earnings • May 05
Full year 2023 earnings released: EPS: €3.43 (vs €2.56 in FY 2022) Full year 2023 results: EPS: €3.43 (up from €2.56 in FY 2022). Revenue: €6.63b (down 7.1% from FY 2022). Net income: €353.7m (up 35% from FY 2022). Profit margin: 5.3% (up from 3.7% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annuncio • Apr 11
I Squared Capital Advisors, LLC reached an final agreement to acquire remining 55% stake in Rubis Terminal B.V. from Rubis (ENXTPA:RUI). I Squared Capital Advisors, LLC reached an final agreement to acquire remining 55% stake in Rubis Terminal B.V. from Rubis (ENXTPA:RUI) on April 10, 2024. The transaction remains subject to the customary regulatory approvals, including those of the antitrust authorities and foreign investment committees. The closing of the transaction is expected for mid-2024. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €32.34, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Gas Utilities industry in Europe. Total loss to shareholders of 2.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €23.56 per share. Annuncio • Mar 21
I Squared Capital Seeks Buyout of French Rubis’ Storage Arm US private equity firm I Squared Capital Advisors, LLC said it has started exclusive talks to acquire the remaining stake in Rubis Terminal SA, the storage arm of French energy group Rubis (ENXTPA:RUI). The transaction concerns the remaining 55% shareholding which the US firm seeks to acquire at an equity value of EUR 375 million (USD 407.0 million). Rubis Terminal is active in the bulk liquid and gas storage sector. It has four million cubic meters (141 million cu ft) of storage capacity across France, Spain and the Northern European hubs of Antwerp and Rotterdam. I Squared took a 45% stake in the business in January 2020. That deal gave the unit an enterprise value of EUR 1 billion. “With facilities at the heart of some of the most important trading hubs in Europe, Rubis Terminal plays a critical role in supporting the energy transition and ensuring security of supply,” said Mohamed El Gazzar, senior partner at I Squared. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €3.43 (vs €2.56 in FY 2022) Full year 2023 results: EPS: €3.43 (up from €2.56 in FY 2022). Revenue: €6.63b (down 7.1% from FY 2022). Net income: €353.7m (up 35% from FY 2022). Profit margin: 5.3% (up from 3.7% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 1.5% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Annuncio • Nov 22
Rubis to Report First Half, 2024 Results on Sep 05, 2024 Rubis announced that they will report first half, 2024 results on Sep 05, 2024 Annuncio • Nov 08
Rubis Reaffirms Earnings Guidance for the Year 2023 Rubis reaffirmed earnings guidance for the year 2023. The group is thus able to reaffirm 2023 will be another year of improving net income Group share vs 2022 (adjusted for goodwill impairment). Annuncio • Oct 26
Rubis to Report Q3, 2023 Results on Nov 07, 2023 Rubis announced that they will report Q3, 2023 results on Nov 07, 2023 Reported Earnings • Sep 11
First half 2023 earnings released: EPS: €1.66 (vs €1.65 in 1H 2022) First half 2023 results: EPS: €1.66 (up from €1.65 in 1H 2022). Revenue: €3.32b (up 1.0% from 1H 2022). Net income: €170.6m (flat on 1H 2022). Profit margin: 5.1% (down from 5.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.0% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Annuncio • Sep 08
Rubis Reaffirms Earnings Guidance for the Year 2023 Rubis reaffirmed it is confident that 2023 will be another year of improving net income Group share vs 2022 (adjusted for goodwill impairment). Annuncio • Aug 01
Rubis Announces Board Changes Rubis Supervisory Board was convened on 27 July 2023 to appoint its new Chair, succeeding to Olivier Heckenroth. Board members have unanimously designated Nils Christian Bergene, independent member, as Chairman of the Board. He remains Chairman of the Accounts and Risk Monitoring Committee and member of the Compensation and Appointments Committee. The Supervisory Board has also designated Marc-Olivier Laurent, independent member, as Deputy Chairman of the Board. Nils Christian Bergene is a Norwegian citizen and graduated from Sciences Po Paris and Insead. He began his career in 1979 at BRS in Paris as a maritime charter broker before returning to Norway where he headed various maritime companies within the Kvaerner industrial group for eight years. Since 1993, he has been operating as an independent maritime charter broker through Nitrogas, the company he cofounded. Nitrogas specialises in trading and transport of liquefied natural gas (LNG), liquefied petroleum gas (LPG) and ammonia for large international groups. Marc-Olivier Laurentis a graduate of HEC and holds a PhD in African social anthropology from Paris-Sorbonne University. Between 1978 and 1984, he was responsible for investments at Institut de Développement Industriel (IDI). From 1984 to 1993, he headed the M&A, Corporate Finance and Equity division of Crédit Commercial de France. He joined Rothschild & Co in 1993 as Managing Director, and then Partner. Until 2022, he was Managing Partner de Rothschild & Co Gestion and Executive Chairman de Rothschild & Co Merchant Banking. He is currently Chairman of the Supervisory Board of Rothschild & Co and Managing Partner of the Five Arrows Long Term fund. Annuncio • Jul 18
Rubis, Annual General Meeting, Jun 11, 2024 Rubis, Annual General Meeting, Jun 11, 2024. Annuncio • Jun 27
Olivier Heckenroth Decides to Resign from Chairman of the Supervisory Board, Membership of the Accounts and Risk Monitoring Committee and of the Compensation and Appointments Committee of Rubis Rubis at its shareholder meeting held on June 8, 2023, Mr. Olivier Heckenroth has considered that the approval rate of the renewal of his mandate of Supervisory Board member by the Shareholders' Meeting was not high enough to enable him to fulfil his mission of Chairman of the Supervisory Board. He has consequently decided to resign from the Chairmanship of the Supervisory Board and from his membership of the Accounts and Risk Monitoring Committee and of the Compensation and Appointments Committee (their independence rates being increased from 60% to 80% and from 50% to 66.67%, respectively). These decisions will come into force at the upcoming Supervisory Board meeting during which its members will appoint a new Chairperson. Upcoming Dividend • Jun 06
Upcoming dividend of €1.92 per share at 7.3% yield Eligible shareholders must have bought the stock before 13 June 2023. Payment date: 15 June 2023. Payout ratio is on the higher end at 75%, and the cash payout ratio is above 100%. Trailing yield: 7.3%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.6%). Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: €2.56 (vs €2.86 in FY 2021) Full year 2022 results: EPS: €2.56 (down from €2.86 in FY 2021). Revenue: €7.13b (up 56% from FY 2021). Net income: €262.9m (down 10% from FY 2021). Profit margin: 3.7% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 10
First half 2022 earnings released: EPS: €1.65 (vs €1.33 in 1H 2021) First half 2022 results: EPS: €1.65 (up from €1.33 in 1H 2021). Revenue: €3.29b (up 60% from 1H 2021). Net income: €169.8m (up 25% from 1H 2021). Profit margin: 5.2% (down from 6.6% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.0% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €22.53, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Gas Utilities industry in Europe. Total loss to shareholders of 45% over the past three years. Upcoming Dividend • Jun 07
Upcoming dividend of €1.86 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 16 June 2022. Payout ratio is a comfortable 65% and the cash payout ratio is 94%. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (4.9%). Annuncio • Apr 15
Rubis (ENXTPA:RUI) completed the acquisition of an 80% stake in Photosol from founders Robin Ucelli and David Guinard and managers for approximately €750 million. Rubis (ENXTPA:RUI) agreed to acquire 80% stake in Photosol from founders Robin Ucelli and David Guinard and managers for approximately €380 million on December 17, 2021. Robin Ucelli and David Guinard, and managers will hold 20% stake in the Photosol. The acquisition of 80% of the shares of Photosol France will be fully debt financed, with the objective of maintaining Rubis’ strong credit profile: leverage on net financial debt 10 below 3.0x net debt/ EBITDA; leverage on non-project finance debt to come back to c. 1.0x in 2025. Completion of the deal is subject to customary clearances. The transaction has been approved by the management board of Rubis. The transaction is expected to close by the end of quarter one 2022. Société Générale acted as financial advisor, Florent Mazeron, Mehdi Boumedine, François April, Samuel Bordeleau, Pierre Guillot, Charlotte Colin-Dubuisson, Géric Clomes and Cyril Boussion of Linklaters LLP (France) and Andrew Compton and Megan Ridley-Kaye of Linklaters LLP (USA) acted as legal advisor, Deloitte acted as financial, fiscal and accounting advisor and Enea consulting acted as strategic consultant to Rubis in the transaction. Emmanuel Mimin, Catherine Naroz, and Alexis Mesnildrey of Clifford Chance acted as legal advisors to Robin Ucelli and David Guinard and managers.
Rubis (ENXTPA:RUI) completed the acquisition of an 80% stake in Photosol from founders Robin Ucelli and David Guinard and managers for approximately €750 million on April 14, 2022. Rubis paid a cash consideration of €385 million and assumed Photosol's 100% debt of €362 million. The acquisition is fully debt financed. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €4.59b (up 18% from FY 2020). Net income: €293.0m (up 63% from FY 2020). Profit margin: 6.4% (up from 4.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 6.3% compared to a 2.3% decline forecast for the industry in Germany. Annuncio • Dec 18
Rubis (ENXTPA:RUI) agreed to acquire 80% stake in Photosol from founders Robin Ucelli and David Guinard and managers for approximately €380 million. Rubis (ENXTPA:RUI) agreed to acquire 80% stake in Photosol from founders Robin Ucelli and David Guinard and managers for approximately €380 million on December 17, 2021. Robin Ucelli and David Guinard, and managers will hold 20% stake in the Photosol. The acquisition of 80% of the shares of Photosol France will be fully debt financed, with the objective of maintaining Rubis’ strong credit profile: leverage on net financial debt 10 below 3.0x net debt/ EBITDA; leverage on non-project finance debt to come back to c. 1.0x in 2025. Completion of the deal is subject to customary clearances and is expected by the end of Q1 2022. The transaction has been approved by the management board of Rubis. Société Générale acted as financial advisor, Linklaters LLP acted as legal advisor, Deloitte acted as financial, fiscal and accounting advisor and Enea consulting acted as strategic consultant to Rubis in the transaction. Reported Earnings • Sep 15
First half 2021 earnings released: EPS €1.33 (vs €0.38 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were flat. First half 2021 results: Revenue: €2.05b (flat on 1H 2020). Net income: €136.1m (up 261% from 1H 2020). Profit margin: 6.6% (up from 1.8% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Jun 09
Upcoming dividend of €1.80 per share Eligible shareholders must have bought the stock before 16 June 2021. Payment date: 08 July 2021. Trailing yield: 4.4%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (5.9%). Reported Earnings • Mar 14
Full year 2020 earnings released: EPS €1.77 (vs €2.80 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €3.90b (down 25% from FY 2019). Net income: €180.0m (down 35% from FY 2019). Profit margin: 4.6% (down from 5.3% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 13% per year. Is New 90 Day High Low • Mar 10
New 90-day high: €40.98 The company is up 8.0% from its price of €37.82 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €30.41 per share. Is New 90 Day High Low • Jan 05
New 90-day high: €38.62 The company is up 26% from its price of €30.72 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €31.21 per share. Annuncio • Nov 20
Rubis to Report First Half, 2021 Results on Sep 08, 2021 Rubis announced that they will report first half, 2021 results on Sep 08, 2021 Annuncio • Nov 19
Rubis, Annual General Meeting, Jun 10, 2021 Rubis, Annual General Meeting, Jun 10, 2021. Is New 90 Day High Low • Oct 29
New 90-day low: €28.62 The company is down 29% from its price of €40.10 on 30 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.57 per share. Is New 90 Day High Low • Oct 10
New 90-day low: €30.60 The company is down 25% from its price of €40.66 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €33.63 per share. Annuncio • Sep 22
Rubis to Report Fiscal Year 2020 Results on Mar 11, 2021 Rubis announced that they will report fiscal year 2020 results on Mar 11, 2021 Is New 90 Day High Low • Sep 19
New 90-day low: €36.36 The company is down 19% from its price of €44.92 on 19 June 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.03 per share. Reported Earnings • Sep 19
First half earnings released Over the last 12 months the company has reported total profits of €171.9m, down 31% from the prior year. Total revenue was €4.70b over the last 12 months, down 2.4% from the prior year. Annuncio • Jul 31
ISQ Global Infrastructure Fund II, L.P. managed by I Squared Capital Advisors, LLC completed the acquisition of 45% stake in Rubis Terminal B.V. from Rubis (ENXTPA:RUI). ISQ Global Infrastructure Fund II, L.P. managed by I Squared Capital Advisors, LLC signed an agreement to acquire 45% stake in Rubis Terminal B.V. from Rubis (ENXTPA:RUI) on January 21, 2020. Under the terms of consideration, transaction values Rubis Terminal at an enterprise value of €1 billion. As part of the transaction, Rubis Terminal has obtained a financing commitment from affiliates of J.P. Morgan, Crédit Agricole CIB and Société Générale for a refinancing of up to €410 million. As part of the transaction, I Squared Capital Advisors, LLC will form a joint venture partnership through an investment in Rubis Terminal and will jointly control the Rubis Terminal B.V. alongside Rubis. The transaction is subject to regulatory, anti trust and other customary conditions. As of March 9, 2020, the European Commission has approved the acquisition. The transaction is expected to close during first half of 2020. Bruno Derieux, Cyril Boussion, Will Aitken-Davies, Alex Lehtinen, Peter McCabe, Julien Bourmaud-Danto and Jamie Coomber of Linklaters LLP (France) acted as legal advisor to I Squared Capital Advisors, LLC.
ISQ Global Infrastructure Fund II, L.P. managed by I Squared Capital Advisors, LLC completed the acquisition of 45% stake in Rubis Terminal B.V. from Rubis (ENXTPA:RUI) on April 30, 2020.