Rubis Sca · EURONEXT:RUI
Rubis Sca — Rubis — Q1 2024 Earnings Presentation
16 slides from Rubis Sca's earnings presentation, May 7, 2024
Slide 1: Q1 2024 Trading Update
Q1 2024 Trading Update 07 MAY 2024
Slide 2: Q1 2024 Highlights
Q1 2024 Highlights Strong operating performance on the back of a high comparable base Energy Distribution Renewable Electricity Production Relevant geographical diversification Dynamic start to the year Strong growth in the Caribbean Photosol secured more than compensating for African headwinds port
Slide 3: Q1 2024 Energy Distribution Highlights
Q1 2024 Energy Distribution Highlights Strong performance in the Caribbean, more than compensating for headwinds in Africa ROBUST OPERATING PERFORMANCE ▪ LPG – Strong demand in bulk product in Morocco Solid growth in volume LPG and bitumen (volume +51%), and South Africa (volume +11%) +4% ~30% of vo
Slide 4: Q1 2024 Photosol Highlights
Q1 2024 Photosol Highlights Continued roll-out of the plan DEVELOPMENT IN LINE WITH PLAN DIVERSIFICATION OF REVENUE ON THE FRENCH MARKET ● Secured portfolio at 936 MWp, up 5% vs. Dec-2023 ● Signing of 2 major corporate PPAs • Corporate PPA with Data4 ● Revenue at €8m down slightly vs Q1 2023 which s
Slide 5: Photosol portfolio as of March 2024
Photosol portfolio as of March 2024 Dynamic start to the year Project pipeline 4.7 GW +8% vs. Dec-23 Pipeline: 2,939 3,076 5x secured portfolio 2,123 1,624 1,369 1,397 Secured porfolio 936 MW +5% vs. Dec-23 435 450 410 383 367 63 91 75 57 In operation Under construction Ready-to-Build Advanced devel
Slide 6: 2024 Outlook reiterated
2024 Outlook reiterated Normalisation in legacy businesses – Confidence in Group’s ability to finance renewable growth and dividend 2024 OUTLOOK GUIDANCE ● Excellent 2023 performance of the Caribbean region expected to normalise ● Expected EBITDA €[725-775]m ● Global Minimum Tax implementation ● Net
Slide 7: Appendix
Appendix
Slide 8: Business Lines and Approach
Business Lines and Approach Legacy businesses generate strong cash flow financing renewable long-term growth ENERGY DISTRIBUTION RENEWABLE ELECTRICITY UNDER SPA SIGNING Steady development and improved profitability PRODUCTION BULK LIQUID STORAGE (JV) Accelerated development Portfolio optimisation RE
Slide 9: Annual cashflow allocation mechanism for Rubis Group
Annual cashflow allocation mechanism for Rubis Group Financing investments with cashflow from legacy activities while pursuing dividend growth Dividend 200 Energy Capex Energy Distribution add. Cash available for Distribution 50% Corp. debt growth capex 80 leverage 40 40 CASHFLOW Cash available for
Slide 10: Investment policy
Investment policy A disciplined approach aimed at securing long-term returns while transitioning ENERGY DISTRIBUTION RENEWABLE ELECTRICITY PRODUCTION ● Bolt-on acquisitions in locations complementary to ● Project IRR [7-9]% unlevered our existing network ● Non-recourse debt financing [80-90]% ● Oppo
Slide 11: Market Outlook and Strategy
Market Outlook and Strategy A differentiated approach depending on products and geographies MID-TERM MARKET OUTLOOK AND RUBIS DIFFERENTIATED STRATEGY AFRICA CARIBBEAN EUROPE • LPG 3-6% p.a. • LPG 1-3% p.a. • LPG (3)-0% p.a. ▪ Transition energy ▪ Growth in line with tourism ▪ Slowly decreasing market
Slide 12: Rubis Photosol ambitions
Rubis Photosol ambitions Including Mobexi and international development OPERATING CAPACITY TO REACH EBITDA BY 2030 1 GW IN 2025 & 3.5 GW IN 2030 3.5 GW At least 25% Photosol EBITDA Mobexi & International to exceed 25% contribution to Rubis Group France (unchanged) 1 GW 0.5 GW 2023 2025 2030 CAPEX (C
Slide 13: A proactive CSR approach
05 A proactive CSR approach Our progress for a positive impact Highlights on 3 key objectives of our CSR Roadmap (published in September 2021) Environment People Society Reducing our Providing a safe Contributing to a more OBJECTIVES environmental footprint and stimulating working virtuous society e
Slide 14: Extra-financial ratings
05 Extra-financial ratings Q1 2024 Trading Update 14
Slide 15: Financial calendar – Roadshows & Conferences
05 Financial calendar – Roadshows & Conferences • Roadshows post Q1 2024 trading update ▪ London – 13 May ▪ Paris – 23 May (CM-CIC) • Conferences ▪ UBS Pan European Small and Mid-Cap Conference – London - 14 May ▪ ODDO BHF ODDO BHF Sustainability Forum – Virtual – 15 May ▪ Investec Pan Africa Confer
Slide 16: Next events
Next events General Meeting: 11 | 06 | 2024 Q2 & H1 Financial Results: 05 | 09 | 2024 Photosol Day: 17 | 09 | 2024 Photos credits: @ Gilles Dacquin © Rubis photo library DISCLAIMER This presentation does not constitute or form part of any offer or solicitation to purchase or to sell Rubis’ securitie