Compania Logistica de Hidrocarbrs CLH : The CLH Group’s after-tax profit reached over 92 million euros during the first half of 2016 +info

Titán, 13 28045 Madrid

Telephone [phone] [e-mail] www.clh.es

Results January - June 2016

The CLH Group's after‐tax profit reached over 92 million euros during the first half of 2016

• Investments in the period totalled 40 million euros, which were mainly devoted to improving the company's infrastructure in Spain and developing new international projects

The CLH Group obtained an after‐tax profit of 92.4 million euros during the first half of

2016, which represents an increase of 20.8% compared to the same period of t financial year.

e previous

The

turnover

generated

by the CLH Group

in the first half of

2016, including the

international subsidiaries, amounted to 305.2 million euros, 12.8% more than in the same period of the year before.

EBITDA for the first six months of 2016 reached 174.0 million euros, 11.5% higher than that

obtained in the same period of the previous

year. This

increase

is mainly

due to the

increased activities in Spain and the incorporation of the international subsidiaries CLH‐PS

and

CLH Aviation Ireland, which started their

operations in May

2015 and

June 2016,

respectively.

During the first six months of 2016, the recurring operating profit of the amounted to 129.9 million euros, 13.7% more than the same period last year.

CLH Group

Operating income increased by 12.5%, totalling 330.9 million euros, whereas expenses amounted to 201 million euros, representing an increase of 11.7%. operating

The

net result on financial operations stood

at ‐7.6 million euros,

a reduction of 8.6%

compared to the first half of 2015, when it stood at ‐7.0 million euros.

Investments

Investments made by the CLH Group in the first half of 2016 totalled 40 million euros, which

were

mainly devoted to

maintenance and improvement projects for the

company's

infrastructures in Spain and the development of new international projects which are being carried out in Oman, the United Kingdom and Ireland.

Activity in Spain

Deliveries of oil products from CLH facilities in Spain in the January‐June period of 2016 amounted to 21.3 million cubic metres, 3.6% more than those recorded in the same period

the previous year, as a result of the

increase in demand owing to

the economic growth

recorded in that period a

d the commercial efforts made by the company, which reduced

the prices for its logistics and storage services by 0.6% last January.

• LEGAL NOTICE

  This

  information

  regarding business results, which has been prepared by COMPAÑÍA LOGISTICA DE

  HIDROCARBUROS CLH, S.A., has not been audited and is only intended f r information purposes.

  The forward‐looking statements contained therein correspond to CLH intentions, expectations and forecasts, and do not constitute guarantees for future performance. Insofar as the contents of such statements are subject to change or alteration, CLH shall not be liable for their accuracy or cor ection and does not guarantee that the information provided is complete and fully up‐to‐date.

  Furthermore, CLH shall not be responsible in any way whatsoever for any damages arising from the use of this document or any information contained herein when used for reasons other than the intended purpose of providing information.

  Except to the extent required by law, CLH does not assume the obligation to publicly disclose any updates, reviews or changes in the information or statements contained herein even if new data are published or new developments occur.

  *Results January‐June 2016

  M

  INCO

  E STATEMENT

  (Million euros)

  January ‐ June
  20	15	201	6	% Vari	at.

  Operating income	29 .1	330.9	12.5
  Operating expenses	17 .9	201.0	11.7
  Recurring operating profit

  a

  Other net gains and losses

  3

  11 .2

  129.9

  13.7

  (0.9)

  (0.3)

  66.7

  106.3

  122.0

  14.8

  76.5

  92.4

  20.8

  (0.9) (0.3)

  66.7

  Non‐recurring operating profit
  Net on financial oper tions	(7.0)	(7.6)	(8.6)
  Pre‐tax profit
  Corporation tax	29.8	29.6	(0.7)
  After‐tax profit

  EBITDA

  (Million euros)

  January ‐ June

  2015 2016 % Variat.

  r

  B

  Profit from o dinary activities

  ( 1 ) 107.2 122.3

  8

  14.1

  Depreciation, amortisation and impairment 40.5 42.9

  5.9

  Costs of debt with third parties and

  similar expenses

  8.4 8.8 4.

  E ITDA

  156.1 174.0 11.5

• Includes recurring operating profit and the net on financial operations

D

ELIVERIES FROM CLH FACILITIES IN SPAIN

(*) I

2015		2016	% Variat.
Auto gasolines and diesel oils	13,630.5	14,010.7	2.8
Other diesel oils	3,165.8	3,107.4	(1.8)
Fuel oils and others	272.5	276.4	1.4

(Thousand m3) Ja

n

D

TOTAL LAND SECTOR PRODUCTS	17,068.8	17,394.4	1.9
TOTAL MARINE AND AVIATION PRODUCTS (*)	3,480.2	3,898.5	12.0
TOTAL PRO UCTS	20,549.0	21,292.9	3.6

cludes deliveries of IFOs from the customs depot for re‐export

n

e

uary ‐ June

Madrid, 13 September 2016