Ruby multiplied redemptions in the oil sector - November 20, 2010
The reconstitution of the downstream oil sector whetting the appetite of Ruby. Unknown to the general public, the independent French company, specializing in liquid storage and distribution of petroleum products, has just completed four acquisitions in quick succession for nearly 400 million euros. A significant amount, given the size of Ruby, who directed last year just under a billion in turnover, net profit of 47 million.
The last transaction, formalized on Friday, concerns the distribution activities of American oil to Chevron Caribbean and Central America. It allows Ruby to take a portfolio of 174 stations in Texaco, plus a stake in a refinery.Earlier, the company took over distribution activities of liquefied petroleum gas (LPG) Shell Southern Africa, Linde German in Switzerland and BP in Spain.
"The will of the majors refocusing upstream opportunities we offer. Our strength and our decentralized approach allows us to be particularly successful in regional markets free credit score. It is also our philosophy: to be hard on smaller markets rather than on large marginal, "says Bruno Krief, the chief financial Ruby.
Reassure shareholders
To finance this expansion, the company announced it would undertake a capital increase by the end of the year.If the amount was not disclosed, but Ruby says that this operation should cover "approximately one third of the investments made, while providing shareholders with strong growth in earnings per share and dividends."
Ruby, whose market capitalization has crossed this week the billion euros, intends to continue to focus its development on growth areas. "France is not our priority, both because most of the movements in the area have already been made and because the constraints to this type of operation are many," said Bruno Krief.