France-based Rubis Terminals experienced a 6% growth in its primary activity, petroleum product storage, in Q4 2009.
In France, all segments showed increases, primarily petroleum, which rose by 6%. Only edible oils decreased, due to destocking towards the end of the year.
The Rotterdam terminal's contribution rose by 21% with the start up of new contracts.
Over the same period, trading revenues stood at 35 million, under the effects of decreased volumes and lower nominal prices, with no effect on results.
Storage, which is measured by rental revenues, recorded 4% growth. Revenues in France rose by 15%, while the rise registered in Rotterdam contributed to a total revenue increase of 29%.
Storage revenues for the full 2009 reached 86 million, up 11% while trading revenues were down 54% to 102 million.
Overall Rubis recorded sales revenues of 272 million (down 17%) in Q4.
Overall business volumes rose by 2% over the period despite unfavourable weather conditions (climate index down 14%), which explains LPG Europe's slight drop in volumes (down 1.5%).
While sales revenues stood at 215 million in Q4, overall volumes distributed by Rubis Energie came in at 204,000 tonnes-m3, down 2%.
In LPG, with the exception of Europe, which posted a 1.5% fall due to unfavourable weather conditions which affected traditional and agricultural segments (drying), volumes increased by 4.4% in the Caribbean and 8% in Africa.
In petroleum products (the Caribbean and the Channel Islands), service station revenues rose by 5% while commercial and aviation fuel dropped by 20% due to contracts coming to an end and a slow aviation business in Jersey and Guernsey.