Commenting on these results, Pierre Eladari, CEO, said that he was pleased to announce “another significant year for Puma”, in which the company had realised an overall growth of 12%. “I was also pleased to see the business model responding to a sustained period of organic growth across the business segments and regions with the completion of the integration of UK activities acquired in 2015, growth in the Americas driven by the retail segment and good operating performance in retail and aviation across all regions.”
| In US$ millions | 2016 | 2015 |
| Sales volumes (‘000 m3) | 21,968 | 18,944 |
| Throughput volumes (‘000 m3) | 19,693 | 18,372 |
| Gross profit | 1,601 | 1,496 |
| EBITDA | 755 | 676 |
| Capex | 61 | 813 |
| Cash flow from operating activities | 838 | 735 |
Operational Highlights
- Record sales volumes, increasing 16% to 22 million m3
- Increase in gross profit (+7%) and EBITDA (+12%) across all segments and regions
- Double digit cash flow from operations growth: +14% to US$838 million
- Reduced capex to US$561 million, entirely financed through operating cash flow
- Increasing diversification and using global scale and market position to drive sustainable cash flow growth
- Finalised major construction projects and increased storage capacity to 7.9 million m3
- Acquired 100th terminal in Belfast from BP
- Expanded retail network to 2,519 (2015: 2,362) and opened 14 new airport facilities
