Core Insights - Rubis demonstrated solid Q3 2025 performance with a 6% increase in distributed volume compared to Q3 2024, despite a 3% decline in revenue for Energy Distribution [3][6] - The company reaffirmed its 2025 EBITDA guidance of €710 million to €760 million, indicating strong operational execution amidst currency headwinds [16] Energy Distribution Performance - Volume distributed in Q3 2025 reached 1,581,000 m, up 6% from Q3 2024, while revenue for Energy Distribution was €1,560 million, down 3% [3][6] - Retail & Marketing segment saw a volume increase of 6%, with LPG unit margin rising by 4% in Europe [5][8] - Bitumen volumes surged by 17% year-on-year, with gross margin increasing by 33% [10] Regional Performance - In the Caribbean, volume increased by 10% and gross margin by 7% in Q3 2025 [7] - Africa experienced a 5% volume growth, with gross margin up by 11% [7][13] - Europe saw a slight decline in volume by 3%, but gross margin improved by 9% [7] Renewable Electricity Production - Photosol's operational capacity grew by 23% year-on-year to 633 MWp, with electricity production increasing by 19% [15] - Revenue from Renewable Electricity Production reached €21 million, up 24% compared to Q3 2024 [15] Support & Services - Revenue from Support & Services fell by 17% year-on-year to €215 million, primarily due to volatility related to the SARA refinery [11] - Trading volumes in the Caribbean were stable, with a 7% increase in volume and a 31% rise in gross margin [11] 9M Performance Overview - For the first nine months of 2025, total revenue was €4,855 million, down 2% from €4,972 million in 2024 [19] - Renewable Electricity Production revenue increased by 26% year-on-year, reflecting strong growth in this segment [19]