Slide 1: Half-Year Results 2021
2021 HALF-YEAR RESULTS September 9, 2021
Slide 2: Highlights
HIGHLIGHTS As of June 30, 2021
Slide 3: Highlights as of June 30, 2021
2021 Half-year results HIGHLIGHTS AS OF JUNE 30, 2021 ● H1 2021: on the road to recovery ▪ Excellent profit per unit (+2%) despite +40% increase in oil prices ▪ Improving profitability amid longer Covid impact (+10% vs H1 2020) ● Focus on renewables: strategic and financial investment within HDF Ene
Slide 4: Key figures approaching pre-Covid levels
2021 Half-year results KEY FIGURES APPROACHING PRE-COVID LEVELS vs H1 2020 vs H1 2019 Volumes +2% reported ● Resilient LPG; strong bitumen growth +7% 2.65m cbm -6% constant scope ● Aviation at 56% of pre-Covid levels Unit margin +5% ● Stable unit margin in the context of rising oil prices +2% €122 E
Slide 5: Rubis Énergie Retail & Marketing
RUBIS ÉNERGIE RETAIL & MARKETING B2C Gas station sales (fuel, LPG, lubricants, etc.) Direct sales (LPG and heating oil) B2B Fuels (aviation, power plants, etc.) LPG Lubricants Bitumen
Slide 6: Retail & Marketing volume recovery
2021 Half-year results RETAIL & MARKETING VOLUME RECOVERY Volume growth yoy at constant scope Volume improvement despite worsening stringency index 24% H1 H1 H2 H1 2019 2020 2020 2021 0% Volume growth -3% -17% -13% +7% at constant scope -6% -14% -12% Stringency index(1): 0 48 55 60 volume weighted -
Slide 7: Retail & Marketing key segments show resilience
2021 Half-year results RETAIL & MARKETING KEY SEGMENTS SHOW RESILIENCE Development by segment Split H1 2021 Volume change H1 2021 Gross profit Volumes vs H1 2020 vs H1 2019 (at constant scope) LPG 43% 23% +2% -4% Gas stations 26% 36% +15% -4% Bitumen 12% 10% +59% +58% Commercial 11% 22% -3% -3% Avia
Slide 8: Retail & Marketing Europe
2021 Half-year results RETAIL & MARKETING EUROPE ● Limited impact on LPG operations in Europe ▪ Noticeable resilience in the context of lockdowns affecting Europe ▪ >90% of regional profits from LPG and immaterial exposure to aviation ▪ Maintained solid profit per unit (above 2019 levels) in the con
Slide 9: Retail & Marketing Caribbean
2021 Half-year results RETAIL & MARKETING CARIBBEAN ● Region heavily impacted due to tourism exposure and Haiti but with stabilisation vs H2 2020 ▪ Haiti impacted by economical and political turmoil, exaggerated by Covid; now looking towards reconstruction and new political agenda ▪ Time lag to pass
Slide 10: Retail & Marketing Africa
2021 Half-year results RETAIL & MARKETING AFRICA ● Excellent performance in H1 2021 exceeding pre-Covid levels and H1 2020 ▪ Buoyant bitumen activities with expansion outside Nigeria and numerous infra projects in the region ▪ Eastern Africa: rebranding of gas stations in Kenya, portfolio clean up l
Slide 11: Retail & Marketing EBIT by region
2021 Half-year results RETAIL & MARKETING EBIT BY REGION vs H1 2020 vs H1 2019 EBIT ● Solid performance despite Haiti and persistent Covid impact +7% -17% €146m ● Resilient LPG; strong bitumen growth Europe +8% -2% ● Limited impact from Covid on LPG segment €38m ● Excl. Haiti: -16% vs H1 2020; -30%
Slide 12: Rubis Énergie Support & Services
RUBIS ÉNERGIE SUPPORT & SERVICES Trading-supply Shipping Logistics Refining (SARA)
Slide 13: Support & Services excellent performance driven by bitumen
2021 Half-year results SUPPORT & SERVICES EXCELLENT PERFORMANCE DRIVEN BY BITUMEN EBIT bridge H1 2020 – H1 2021 (€m) +9 61 0 51 52 +2 -1 H1 2019 H1 2020 SARA Fuel trading Bitumen Logistics H1 2021 Shipping Trading Indian Caribbean Shipping Ocean EBIT, €m 14 21 20 6 Change yoy -4% +8% +77% -2% 13 Hig
Slide 14: Rubis Terminal JV bulk liquid storage
RUBIS TERMINAL JV BULK LIQUID STORAGE Fuels and biofuels Chemicals Agrifood
Slide 15: Rubis Terminal JV key figures
2021 Half-year results RUBIS TERMINAL JV KEY FIGURES (€M) Storage revenues EBITDA Free cash flow: (incl. 50% Antwerp JV) EBITDA – maintenance capex 84 112 116 43 58 61 32 43 45 ■ Maintenance CAPEX 2020 2020 PF 2021 2020 2020 PF 2021 2020 2020 PF 2021 +38% +41% +41% +4% RP +5% RP +5% RP PF PF PF 15 P
Slide 16: Results
RESULTS
Slide 17: Income statement highlights
2021 Half-year results INCOME STATEMENT HIGHLIGHTS H1 H1 H1 €m 2019 2020 2021 Sales 2,583 2,051 2,051 ● Sales are impacted by oil price volatility and not indicative of earnings development ● Improving performance vs 2020 despite longer Covid impact EBIT 215 170 188 ● Long-term incentive plans Share
Slide 18: Cash flow highlights
2021 Half-year results CASH FLOW HIGHLIGHTS H1 H1 H1 €m 2019 2020 2021 Cash flow from operations ● Improving cash flow generation, above pre-Covid level before change in working 220 196 238 capital ● 2019 & 2020 : excluding Rubis Terminal Change in working capital -148 129 -178 ● +40% increase in oi
Slide 19: Environment Social Governance
ENVIRONMENT SOCIAL GOVERNANCE
Slide 20: CSR Roadmap 2022-2025
2021 Half-year results CSR ROADMAP 2022-2025 Reducing our environmental Providing a safe Contributing to a more footprint and stimulating environment virtuous society 3 for our teams PILLARS Reducing the discharges Ensuring the safety Operating 9 from our operations of our employees with integrity K
Slide 21: CSR Roadmap 2022-2025 examples and key objectives
2021 Half-year results CSR ROADMAP 2022-2025 EXAMPLES AND KEY OBJECTIVES Reducing our environmental Providing a safe Contributing to a more footprint and stimulating environment virtuous society for our teams Reduce CO2 emissions Promote diversity Operate from our activities within our teams with in
Slide 22: A commitment aligned with the UN Sustainable Development Goals
2021 Half-year results A COMMITMENT ALIGNED WITH THE UN SUSTAINABLE DEVELOPMENT GOALS For a sustainable and responsible growth 8 sustainable development goals for Rubis Through our mission to provide as many Our commitment to fight people as possible with access to energy, climate change caters part
Slide 23: Climate focus: the Climate Committee
2021 Half-year results CLIMATE FOCUS THE CLIMATE COMMITTEE Clarisse GOBIN-SWIECZNIK Sophie PIERSON Managing Director CRS and Compliance Director Rubis, Chair Rubis ITS MISSIONS consist in: MONTHLY Jean-Pierre HARDY REPORTS Alexandre BOCQUILLON ▪ Monitor the Climate Action Plan, Deputy Managing Direc
Slide 24: Climate focus: examples of less carbon-intensive solutions
2021 Half-year results CLIMATE FOCUS EXAMPLES OF LESS CARBON-INTENSIVE SOLUTIONS DIVERSIFICATION OF BUSINESS BUSINESS PRODUCT OFFERING TO CONSUMER TO BUSINESS Increase of biofuels and biogas LPG replacing charcoal LPG ou hybrid solar systems replacing fuel oil ● Up to 90 % reduction in CO2 emissions
Slide 25: New forms of energy: investment in HDF Energy
2021 Half-year results NEW FORMS OF ENERGY INVESTMENT IN HDF ENERGY HDF ENERGY RUBIS Pioneer of hydrogen-electricity power, the company: ● Rubis has become the 2nd shareholder ● Develops high-capacity large scale Hydrogen of the company after its founder with 18.5% -Power infrastructures to produce
Slide 26: Conclusion & Outlook
CONCLUSION & OUTLOOK
Slide 27: Key take-aways and outlook
2021 Half-year results KEY TAKE-AWAYS AND OUTLOOK H1 2021 RESULTS MID-/LONG-TERM GROWTH DRIVERS ● Solid volume development despite longer Covid ● Bitumen development in Africa with impact increasing regional coverage ● Resilient unit margin even with 40% increase in ● LPG growth driver as transition
Slide 28: Focus on Eastern Africa
2021 Half-year results FOCUS ON EASTERN AFRICA 2019 – entry in the growing Eastern African market with acquisition of #3 player in Kenya ● Adding countries with >200m population, ±20% of African Kenya - main players, population market share(2) 28% ● Access to sub-region with the 21% highest growth p
Slide 29: Focus on Eastern Africa: reinforcing management team
2021 Half-year results FOCUS ON EASTERN AFRICA REINFORCING MANAGEMENT TEAM Jean-Christian BERGERON General Manager RUBIS ENERGY East Africa ● Academic background: Age: 55 ▪ MBA Audencia - Nantes, France ● Professional experience: TotalEnergies (1991-2019) ▪ Executive Vice President for East & Centra
Slide 30: Focus on Eastern Africa: gas stations – initial state
2021 Half-year results FOCUS ON EASTERN AFRICA GAS STATIONS – INITIAL STATE Solid base in need of upgrading ● Low level of investments prior to 2019, explained the steady decline in sales, mainly in retail (-5 to 10% per year) ● Lack of customer focus, compliance and safety policies offered addition
Slide 31: Focus on Eastern Africa: gas stations rebranding program
2021 Half-year results FOCUS ON EASTERN AFRICA GAS STATIONS - REBRANDING PROGRAM Retail average throughput ● 125 services stations already fully RUBiS rebranded (m3 per month) (out of ca. 400) 250 261 ● Average investment per site: 85 • light works: €83,000 Non RUBiS rebranded sites RUBiS rebranded
Slide 32: Gas stations – convenience, innovation and customer care
2021 Half-year results FOCUS ON EASTERN AFRICA GAS STATIONS – CONVENIENCE, INNOVATION AND CUSTOMER CARE ● Convenience stores ● In house CRM Mystery Shopping Program ● Brioche bakery ● Site automation 83% March 82% 80% 79% 77% 75% 73% 74% 2020 61% ● Partnerships ● Mystery shopper March 2021 Rubis Ken
Slide 33: Focus on Eastern Africa: workforce
2021 Half-year results FOCUS ON EASTERN AFRICA WORKFORCE Culture transformation blueprint launched to foster efficiency and improve performance 1 To be the Preferred Brand • Key KPI: 2 To be a Great Place to work • Proactively foster employee mobility within the ➢ #1 in Top-of-mind awareness by 2024
Slide 34: Focus on Eastern Africa: outlook
2021 Half-year results FOCUS ON EASTERN AFRICA OUTLOOK We are mid-way through our journey to become a leading retail & marketing company in East Africa ● Objective: to triple profits by 2023/24 (vs EBIT €20m in FY 2020) ● Anchor petrol distributor in Eastern Africa ▪ Improve volume throughput perfor
Slide 35: Appendix
Not shown during live presentation APPENDIX
Slide 36: Snapshot: distributing energy for everyday life
2021 Half-year results SNAPSHOT DISTRIBUTING ENERGY FOR EVERYDAY LIFE We are specialized in the distribution of fuel, liquefied gas and bitumen from supply to end consumer WELL-ESTABLISHED COMPANY RESILIENT BUSINESS MODEL OUR VALUE CREATION A balanced geographical footprint ● SOCIETAL EUR 3.5bn Mark
Slide 37: Retail & Marketing supply prices
2021 Half-year results RETAIL & MARKETING SUPPLY PRICES ULSD prices Rotterdam (in USD/t) 800 700 600 500 400 300 2019 2020 2021 200 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J Quotation in USD: 40% (average H1 2021 versus H1 2020) Unit profit all products at constant scope: +2% 37
Slide 38: Retail & Marketing low exposure to oil price volatility
2021 Half-year results RETAIL & MARKETING LOW EXPOSURE TO OIL PRICE VOLATILITY 40% 33% 22% 24% 20% 15% 11% 9% 7% 2% 1% -2% -2% 0% 5% 2% -1% -2% -7% -9% -20% -21% -40% -30% -39% -60% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Quotation ULSD (€) Unit profit (€) (in annual change) 38 Highlights
Slide 39: Contacts
2021 Half-year results CONTACTS Anna PATRICE Sophie PIERSON Eva CHAUVET Head of Investor Relations CSR & Compliance Director Governance Director investors@rubis.fr csr@rubis.fr governance@rubis.fr 📱 +33 1 45 01 72 32 📱 +33 1 44 17 95 95 Maura TARTAGLIA Rubis Corporate Secretary 39 Highlights…
Slide 40: Next event
NEXT EVENT November 9, 2021 Q3 2021 revenue Photo Credits: © Gilles Dacquin / © Rubis photo library DISCLAIMER Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular proje