Half Year 2024 Rubis SCA Earnings Call Transcript
Key Points
- Solid operating performance with stable EBITDA on a comparable basis.
- Cash flow generation remains high, illustrating strong operational health.
- Volume increase of 4% across Africa, Caribbean, and Europe.
- Renewable electricity development continues as planned, with a 55% increase in secured solar projects year-over-year.
- Healthy balance sheet with a leverage ratio of 1.6 times.
- EBITDA growth slower than anticipated due to bad weather in France and decreased spot prices.
- Political and economic challenges in Africa, particularly in Kenya, affecting performance.
- Net income down by 4% on a comparable basis and 24% versus reported numbers.
- Increased net financial charges due to higher interest rates and renewed financing lines.
- Foreign exchange losses amounted to EUR 32 million, a 60% increase from the previous year.
Hello, and welcome to Rubis 2024 half year results presentation. My name is Melissa, and I will be your coordinator for today's event. Please note this conference is being recorded. (Operator Instructions)
I'll now hand the call over to Clémence Mignot, Head of Investor Relations. Please go ahead.
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Thank you, Melissa Good evening, everyone. Thanks for being here with us tonight. I am here with Clarisse Gobin-Swiecznik, Managing Partner Rubis; and Marc Jacquot our CFO, who will be handling the presentation. And I will moderate the questions at the end. Clarisse the floor is yours.
Good evening. So on slide 3, I don't know if you can see it from here, okay. So for those of you joining us today, for the first time, I'm going to give a quick overview of the group
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