1H2025 Trading Update and Unaudited Group Result
| Stock | Viva Energy Group Ltd (VEA.ASX) |
|---|---|
| Release Time | 29 Jul 2025, 8:30 a.m. |
| Price Sensitive | Yes |
Viva Energy Group Provides 1H2025 Trading Update
- Unaudited EBITDA (RC) expected to be ~$310 million, above guidance
- Unaudited Group EBITDA (RC) expected to be ~$300 million
- Convenience sales down 10% due to tobacco decline, offset by higher margins
Viva Energy Group Limited (the Company) today provides a trading update for the six months ended 30 June 2025 (1H2025). Unaudited EBITDA (RC) across Convenience & Mobility (C&M) and Commercial & Industrial (C&I) is expected to be approximately $310 million, above the midpoint of the previously announced guidance range. C&I EBITDA (RC) is expected to be largely in line with 1H2024. Unaudited Group EBITDA (RC) is expected to be approximately $300 million, with a positive contribution from Energy & Infrastructure (E&I) offset by Corporate costs. Total C&M fuel sales declined 0.5% compared with the same period last year, with retail fuel margins strengthening in 2Q2025. Convenience sales were down 10% compared with the same period last year, driven by a 27% decline in tobacco sales due to the impact of new tobacco packaging laws and the continued growth in illicit tobacco trade. Lower sales were partly offset by higher gross margin, lifting to 39.2% in 2Q2025 due to changes in product mix, product ranging and supplier initiatives. Convenience sales (ex-tobacco) were down 2% compared with 1H2024, with 2Q2025 in line with 2Q2024. The synergies and cost reduction program announced in February 2025 is progressing, with the Transitional Services Agreement (with Coles Group) concluded during 2Q2025 following the successful transition to stand-alone OTR enterprise systems. Nine new OTR stores were opened during 2Q2025, with a further 11 stores under construction/conversion as at the end June 2025. C&I sales declined 2% versus 1H2024, but 2Q2025 sales grew 2% on the prior corresponding period and rose 6% compared to 1Q2025. The Geelong Refinery realised a 1H2025 GRM of US$8.2/BBL on intake of 18.8MBBLs, with earnings impacted by the previously disclosed unplanned outage in January, minor turnaround activity and higher energy costs.