Rubis Raises Full-Year Guidance Amid Strong First-Half Performance
French energy distributor Rubis reported strong first-half results and raised its full-year EBITDA guidance. Revenue increased by 24% to €4.07 billion, with EBITDA rising 18% to €434 million and net income up 17%. The company attributed the performance to solid demand, market-share gains, and improved inventory management across Europe, Africa, and the Caribbean. Rubis's Energy Distribution segment was a key driver of growth. Renewable Electricity Production also showed strong EBITDA growth at 42%, aided by progress on its Creil solar plant. However, cash flow from operations fell due to higher oil prices increasing working-capital needs. Despite rising net debt, the company maintained manageable leverage levels and received positive investor reaction with a roughly 5% share-price increase. The firm operates in both traditional energy distribution and renewable electricity production. While its core business remains focused on fuels and bitumen, Rubis is expanding into renewables through Photosol. The geographic diversification across Europe, Africa, the Caribbean, and emerging markets like Guyana supports growth but also introduces varied regional risks.
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