Rubis (RUI) Investor presentation summary

Business overview and strategic positioning

• Operates in energy distribution, storage, and production across 45 countries in Africa, the Caribbean, and Europe, with a market capitalization of €3.3 billion and 4,614 employees as of end-2025.

• Maintains leading market positions, especially in Africa and the Caribbean, and is expanding in Europe, notably in bitumen and renewables.

• Demonstrates a 6% CAGR in dividends from 2015–2025, with 30 consecutive years of dividend growth.

• Strategic focus on multi-country, multi-segment operations and integrated business model.

• Solid balance sheet with net financial debt/EBITDA at 0.9x and strong cash flow generation.

Financial performance and key figures

• FY 2025 EBITDA reached €772m (+7% yoy), with net income group share at €309m (+19% yoy, excluding 2024 equity gain from RT sale).

• Energy distribution volumes grew 6% to 6,350k m³, with gross margin up 6% to €861m.

• Retail & Marketing EBITDA was €531m, Support & Services €224m, and Renewable Electricity Production €23m.

• Cost of corporate debt decreased to ~4% in 2025 from ~5% in 2024.

• Capex for 2025 totaled €376m, with €185m excluding non-recourse debt financing.

Growth model and 2026 outlook

• Pursues strong organic growth, external growth opportunities, and financial discipline.

• Growth driven by market share gains, operational excellence, and value-accretive investments.

• 2026 EBITDA guidance set at €740–790m, assuming stable FX and hyperinflation effects.

• Caribbean: recovery in Haiti, growth in Jamaica, Guyana, and Barbados; Africa: improved retail margins and bitumen volume; Europe: bitumen launch and renewables acceleration.

• Maintains strict investment policy with bolt-on acquisitions and high leverage for renewables.