Rubis Sca · EURONEXT:RUI
Rubis Sca — Rubis — ODDO BHF Forum January 2025
29 slides from Rubis Sca's conference presentation, January 2025
Slide 1: ODDO BHF Forum January 2025
= ODDO BHF i Forum JANUARY 2025
Slide 2: Contents
Contents 01 • Overview 04 • Sustainability 02 • Operating and Financial 05 • Governance Performance 03 • Ambitions 06 • Appendix ODDO BHF Forum January 2025
Slide 3: Overview
01 Overview
Slide 4: Introduction to Rubis
01 Introduction to Rubis Extending end-to-end energy services for all GENERATE COMPANIES Public and private SOURCE & SHIP PROFESSIONALS Manufacturing, agriculture, hotels, road contractors, airlines STORE INDIVIDUALS Customers of service stations and users of DISTRIBUTE liquefied gas ODDO BHF Forum
Slide 5: Introduction to Rubis
01 Introduction to Rubis Addressing fit-for-purpose demand with tailored energy solutions AFRICA CARIBBEAN EUROPE Developing market Fragmented market Mature market GENERATE 23 594 19 397 10 93 countries service stations territories service stations countries service stations Top 3 in most countries
Slide 6: Introduction to Rubis
01 Introduction to Rubis A diversified Group offering a continuously growing performance 4 4 > 40 ~4,100 €354m 1.6x €1.98 countries across employees of FY 2023 Net Corporate Net 2023 Dividend 3 continents Income Financial Debt / EBITDA +7% +17% at Jun-24(2) 2012-2023 Vs FY 2022(1) CAGR CAGR means Co
Slide 7: Investment policy
01 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 our existing network ▪ Project IRR [7-9]% unlevered ▪ Opportunistic acquisitions with a short
Slide 8: Operating and Financial Performance
02 Operating and Financial Performance
Slide 9: Q3 2024 Operational Highlights
02 Q3 2024 Operational Highlights Increasing volume in ENERGY DISTRIBUTION RENEWABLE ELECTRICITY PRODUCTION Gross margin under pressure develops in line with plan Retail & Marketing Unit Volume (in '000 m3) Gross margin (in €m) margin +22% +6% Q3 24 Q3 24 Q3 24 Q3 2024 Q3 2023 Q3 2024 Q3 2023 vs Q3
Slide 10: Photosol portfolio as of September 2024
02 Photosol portfolio as of September 2024 Creil plant now under construction – Strong increase in early stage projects Project pipeline 5.2 GW 3.63 GW 614 3 582 3.6 GW 3 196 3.2 GW Pipeline: 5x 2 662 2.7 GW secured portfolio 1 962 2.0 GW 1 588 1.5 GW Secured porfolio 1.0 GW 460 513 467 230 265 66 I
Slide 11: Ambitions
03 Ambitions
Slide 12: Revised 2024 Guidance
03 Revised 2024 Guidance Renewed confidence in Group’s ability to finance renewable growth and dividend TAKE AWAYS AND MARKET OUTLOOK REVISED GUIDANCE • High volatility, characterised by sudden and sharp • EBITDA: €[675-725]m fluctuations in oil prices, results in a short-term squeeze on • Net incom
Slide 13: Photosol 2027 ambitions
03 Photosol 2027 ambitions 2022 2023 2024 … 2027 Secured portfolio(1) 503 MW 893 MW 1 GW … >2.5 GW Consolidated EBITDA(2) €18M €29M €18-20M … €50-55M of which c.10% EBITDA contribution from farm-down Power EBITDA(3) €22M €34M €35-37M … €80-85M of which one-off impact of €4m due to emergency measure
Slide 14: Building upon a favorable funding environment
03 Building upon a favorable funding environment Cumulative construction capex by technology (2024-2027) Min 80-90% Non- c.€1.1bn recourse project debt Ground c.€1.1bn mounted Rooftop c.93% c.7% Cumulative construction capex by country (2024-2027) c.€1.1bn c.98% Max 10-20% Equity c.2% 2-3% Cumulativ
Slide 15: Photosol: Where we stand…
03 Photosol: Where we stand… An international pipeline powered by strategic agreements with local partners SECURED PORTFOLIO BY TECHNOLOGY POLAND Apr-24 Rooftop <1% Entry date FRANCE 1.0 GW 964 MW Ground-mounted >99% ITALY SECURED PORTFOLIO BY GEOGRAPHY Jul-23 44 MW Entry date 96% SPAIN 1.0 GW Jan-2
Slide 16: …where we are heading for (by 2027)
03 …where we are heading for (by 2027) A diversified and established portfolio with a strong local presence in Europe SECURED PORTFOLIO BY TECHNOLOGY Rooftop c.2% FRANCE EASTERN EUROPE >2.5 GW c.2.2 GW H2-2024 c.150 MW Entry date Ground-mounted ITALY c.98% SECURED PORTFOLIO BY GEOGRAPHY c.100 MW Eas
Slide 17: Sustainability
04 Sustainability
Slide 18: A proactive CSR approach
04 A proactive CSR approach Our progress for a positive impact Highlights on 3 key objectives of our CSR Roadmap (updated June 2024) Environment People Society Reducing our Providing a safe Contributing to a more OBJECTIVES environmental footprint and stimulating working virtuous society environment
Slide 19: Extra-financial ratings
04 Extra-financial ratings ODDO BHF Forum 19 January 2025
Slide 20: Governance
Governance EB PT 6 Ra fh &= |
Slide 21: Rubis Limited Partnership
05 Rubis Limited Partnership Rubis is a partnership limited by shares, governed by Articles L. 226-1 et seq. of the French Commercial Code Rubis shares are listed on the regulated market of Euronext (Compartment A) Audit and CSR Committee Limited Partners / Supervisory Board Shareholders Compensatio
Slide 22: Allocation of responsibilities in Limited Partnerships
05 Allocation of responsibilities in Limited Partnerships Check and balances ensuring a robust and value creative governance framework to the benefit of shareholders Supervisory Board 1 Permanent supervision of the company's management Independent body supervising the management Represents and repor
Slide 23: General Partners’ statutory dividend
05 General Partners’ statutory dividend Strong alignment with shareholders' interest ● The General Partners receive a dividend for a financial year equal to 3% of the Total Shareholder Return, if positive, of Rubis’ shares (formula below) ● This dividend may in no case exceed 10% of the Group net in
Slide 24: Constant strengthening of the SB functioning and scope (1/2)
05 Constant strengthening of the SB functioning and scope (1/2) Crystallized in the revised internal rules of the Supervisory Board and its Committees (October 2024) Amendments to the Supervisory Board internal rules Governance Supervision of the management • The Supervisory Board examines • Informa
Slide 25: Constant strengthening of the SB functioning and scope (2/2)
05 Constant strengthening of the SB functioning and scope (2/2) Crystallized in the revised internal rules of the Supervisory Board and its Committees (October 2024) Functioning of the Supervisory Board Remuneration, Appointments and Governance Committee • New missions/scope: • Improvement of the Su
Slide 26: Appendix
Appendix
Slide 27: 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 CASH FLOW Cash available for
Slide 28: H1 2024 Key figures
H1 2024 Key figures Robust operating performance despite headwinds – Cash-flow generation maintained at a high level NET INCOME CAPEX Retail & Marketing 24 EBITDA(1) -1% at €362m in H1 24 €130m 35 108 68 -4% vs H1 2023 (1) H1 2023 H1 2024 Support & Services Energy Distribution Capital expenditure EB
Slide 29: Thank you for your attention
Thank you for your attention Photos credits: DISCLAIMER This presentation does not constitute or form part of any offer or solicitation to purchase or to sell Rubis’ securities. Should you need more detailed information on Rubis, please consult the documents filed in France with the Autorité des mar