REG-RUBIS: Q3 & 9M Trading update - Another quarter of strong operational performance - 2026 Guidance reaffirmed
Key Highlights
- ➤2026 EBITDA guidance reaffirmed at €775m to €825m at constant EUR/USD 1.13
- ➤Q3 Energy Distribution volume distributed rose 7% to 1,737 thousand m3
- ➤Q3 bitumen volumes surged 82% year over year to 203 thousand m3
- ➤Photosol secured portfolio expanded 20% year over year to 1.5 GWp
- ➤Banque des Territoires acquired a 49% interest in Photosol’s Creil solar park
Expert Statements
Clarisse Gobin-Swiecznik, Managing Partner of Rubis
“Rubis delivered another solid quarter, reflecting the strength of its diversified energy platform and the disciplined execution across geographies and business lines. In Energy Distribution, commercial momentum remained robust, supported by the quality of our asset base and our ability to capture growth opportunities in our markets. At Photosol, the opening of the capital of the Creil solar park to Banque des Territoires marks an important milestone, validating both the quality of our assets and the attractiveness of our development model. We have also taken a significant step forward with the proposed conversion of Rubis into a Société Anonyme, a project designed to strengthen our governance framework, enhance our market profile and support the Group’s long-term development ambitions. Given our year-to-date performance and outlook for the rest of the year, we reaffirm our EBITDA guidance for 2026.”
Jean-Christian Bergeron, Managing Partner of Rubis
“Rubis delivered another solid quarter, reflecting the strength of its diversified energy platform and the disciplined execution across geographies and business lines. In Energy Distribution, commercial momentum remained robust, supported by the quality of our asset base and our ability to capture growth opportunities in our markets. At Photosol, the opening of the capital of the Creil solar park to Banque des Territoires marks an important milestone, validating both the quality of our assets and the attractiveness of our development model. We have also taken a significant step forward with the proposed conversion of Rubis into a Société Anonyme, a project designed to strengthen our governance framework, enhance our market profile and support the Group’s long-term development ambitions. Given our year-to-date performance and outlook for the rest of the year, we reaffirm our EBITDA guidance for 2026.”
Marc Jacquot, Managing Partner of Rubis
“Rubis delivered another solid quarter, reflecting the strength of its diversified energy platform and the disciplined execution across geographies and business lines. In Energy Distribution, commercial momentum remained robust, supported by the quality of our asset base and our ability to capture growth opportunities in our markets. At Photosol, the opening of the capital of the Creil solar park to Banque des Territoires marks an important milestone, validating both the quality of our assets and the attractiveness of our development model. We have also taken a significant step forward with the proposed conversion of Rubis into a Société Anonyme, a project designed to strengthen our governance framework, enhance our market profile and support the Group’s long-term development ambitions. Given our year-to-date performance and outlook for the rest of the year, we reaffirm our EBITDA guidance for 2026.”
* Strong Q3 2026, with sustained volume growth and margin expansion across Energy Distribution activities * Energy Distribution: sustained volume growth in Retail & Marketing (+7%), underpinned by strong growth in bitumen (+82% yoy, +15% excl. Europe). Improved fuel unit margin in East Africa * Renewable Electricity Production: Accelerating expansion with secured portfolio up +20% vs Sept-25 at 1.5 GWp. Successful farm-down of Photosol's flagship Creil solar farm SALES BREAKDOWN BY SEGMENT AND BY REGION
As a reminder, in the Energy Distribution business, Rubis passes on changes in oil price to customers. Thus, key indicators to analyse performance are volume and unit margin (see tables below) rather than revenue.
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