Rubis' volumes grow and margin 'holds up well', shares rise

Rubis SCA

06/05/2022 09:45

** Shares in Rubis  RUBF.PA  rise 2.3%, paring earlier gains
of 3.4%, on the French energy storage group's
better-than-expected volume growth and resilient margins
 urn:newsml:reuters.com:*:nASM000AJJ
    ** The company's volumes exceed pre-pandemic levels to reach
1,454,000 cubic meters in Q1, against 1,125,000 in 2019
    ** "The volumes distributed increased significantly more
than expected in each of its geographies," Portzamparc says
    ** Rubis' sales grow 49% YoY to EUR 1.47 bln ($1.55 bln),
mostly boosted by rising oil prices and strong volume growth
    ** In spite of the oil prices hike, Portzamparc notes the
margin "holds up well" and cites a "remarkable" performance
    ** It adds Rubis should benefit in coming quarters from the
rebound in post-COVID volumes and the dynamism of bitumen demand
    ** Portzamparc finally flags the integration of solar energy
player Photosol could generate strong growth in years to come

($1 = 0.9510 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))